During the first half of 2023, Palm Kernel Oil prices in Asia experienced fluctuating trends, mainly lingering at the lower end. Some reversals occurred during the quarter shift due to increased consumption during Ramadan. The decline in prices was largely attributed to heightened outputs from key producers Indonesia and Malaysia. Europe mirrored similar market trends, with prices falling in the first quarter due to easier imports. However, they showed some upward fluctuations in the second quarter due to increased consumption. North America also followed global price trends, with prices remaining low but supported by favorable supply-demand dynamics.
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Definition
Palm Kernel Oil is a type of vegetable oil extracted from the kernel (seed) of oil palm fruits. It is commonly used in various industries, including food production, cosmetics, and personal care products. The oil’s high content of saturated fats makes it suitable for cooking and as an ingredient in many consumer goods.
Key Details About the Palm Kernel Oil Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Palm Kernel Oil in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Palm Kernel Oil Price chart, including India Palm Kernel Oil price, USA Palm Kernel Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Palm Kernel Oil Price Trend:
Palm Kernel Oil finds key industrial uses in various sectors. In the food industry, it serves as a cooking oil due to its high smoke point and neutral taste. It is a vital ingredient in the production of bakery goods, confectionery, and snacks. The oil’s stability and creamy texture make it suitable for making margarine and other fat-based spreads. Additionally, Palm Kernel Oil is used in the manufacturing of soaps, detergents, cosmetics, and personal care products, owing to its emollient and moisturizing properties.
Key Players:
- Cargill Incorporated,
- Wilmar International Ltd
- Bunge Loders Croklaan (Bunge Limited)
- Natures Natural India
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