Palm Kernel Oil Prices: Trend, Pricing and Forecast
Palm Kernel Oil is a widely traded commodity in the global market, and its pricing dynamics are influenced by several interrelated factors. Derived from the kernel of the oil palm fruit, palm kernel oil is a key ingredient in various industries, including food processing, cosmetics, pharmaceuticals, and biodiesel production. Over the years, the market for palm kernel oil has experienced significant fluctuations due to changes in supply and demand, environmental concerns, geopolitical developments, and evolving consumer preferences. One of the primary drivers of palm kernel oil prices is the availability of raw materials. Palm kernel oil is produced alongside crude palm oil, with both being extracted from the same oil palm fruit. The supply of oil palm fruits is directly linked to the agricultural conditions in major producing regions such as Indonesia, Malaysia, Thailand, and Nigeria. Weather patterns, particularly the El Niño and La Niña phenomena, play a crucial role in ...