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In July 2022, the palm oil price stood at $1,303 per ton (CIF, Turkey), standing approximately at the previous month.
In May 2022, the palm oil price per ton stood at $1,516 per ton in May 2022, with an increase of 4.2% against the previous month.
While Indonesia, planning to expand production, fights for the EU's recognition of palm oil as a biofuel, Malaysia is faced with an acute shortage of labor due to the outflow of guest workers after the pandemic.
The palm oil market size in Africa is estimated at $8.2B in 2018, an increase of 3.7%.