Palm Oil Prices in Malaysia
| Variety | Market level | Price (US$/kg) | Local (MYR) | MoM | YoY | Source |
|---|---|---|---|---|---|---|
| - | Farmgate | 0.91 | 4.14 | ▲ 9.3% | ▲ 9.3% | FAOSTAT Producer Prices |
| - | Global benchmark | 1.14 | 5.17 | ▼ 0.6% | ▲ 25.6% | World Bank Pink Sheet |
| - | Export (unit value) | 1.03 | 4.66 | ▲ 15.1% | ▲ 15.1% | UN Comtrade (unit value) |
As of June 2026, the palm oil price in Malaysia available is US$ 0.91 per kg (4.14 MYR), up 9.3% year-on-year.
Malaysia is the world's leading exporter of palm oil, shipping 3,692,702 tonnes valued at US$3.3 billion in 2024, which accounts for 38.2% of global exports and reflects a 9.1% year-on-year increase. In 2023, Malaysia produced 18,551,950 tonnes of palm oil, ranking second globally with 23.4% of world output and a 0.5% annual growth. The latest farmgate generic price is US$0.9133 per kg. Malaysia maintains a strong net exporter position in the palm oil market.
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Palm Oil Price History & Trend
Global benchmark (world reference) price for palm oil, US$ per kg.
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Production, Exports, Imports & HS Codes - palm oil in Malaysia
Malaysia is the world's leading exporter of palm oil, shipping 3,692,702 tonnes valued at US$3.3 billion in 2024, which accounts for 38.2% of global exports and reflects a 9.1% year-on-year increase. In 2023, Malaysia produced 18,551,950 tonnes of palm oil, ranking second globally with 23.4% of world output and a 0.5% annual growth. The latest farmgate generic price is US$0.9133 per kg. Malaysia maintains a strong net exporter position in the palm oil market.
Exports UN Comtrade · 2024
In 2024, Malaysia exported $3.3B (3.69 Mt) of palm oil▲ 9.1% YoY. That ranks #1 worldwide (38.2% of global exports).
Export value by year (US$)
Export volume by year
Top palm oil exporters worldwide UN Comtrade · 2024
- #1 Malaysia $3.3B · 38.2%
- #2 Indonesia $2.72B · 31.4%
- #3 Thailand $737.8M · 8.5%
- #4 Guatemala $444.6M · 5.1%
- #5 Colombia $339.5M · 3.9%
Annual export data Malaysia · UN Comtrade
| Year | Export value (US$) | Volume | Avg price/kg |
|---|---|---|---|
| 2024 | $3.3B | 3.69 Mt | $0.89 |
| 2023 | $3.02B | 3.54 Mt | $0.85 |
| 2022 | $4.49B | 3.78 Mt | $1.19 |
| 2021 | $4.95B | 4.71 Mt | $1.05 |
| 2020 | $2.93B | 4.5 Mt | $0.65 |
Production FAOSTAT · 2023
Malaysia produced 18.55 Mt of palm oil in 2023▲ 0.5% YoY. It ranks #2 among producing countries (23.4% of world output).
Production by year (tonnes)
HS Code
palm oil is traded under Harmonized System code 1511.10. Trade figures above are compiled for this HS heading.
Sources: trade & HS - UN Comtrade; production - FAOSTAT (FAO). Values are official reported figures.