In the first quarters of 2023, palm kernel oil prices in the Asia Pacific market experienced fluctuations. Initial high consumption due to increased demand and limited supply persisted throughout Q1. However, Q2 presented challenges, with fewer new orders, steep drops in domestic and international demand, and reduced consumer purchasing. Europe witnessed disruptions with Q1 price increases due to demand and supply chain slowdowns, but Q2 saw declining prices attributed to negative market dynamics, cautious buyers, and high inflation. North America reflected similar trends, with Q1 price hikes from reduced supply depleting inventories, while Q2 experienced declining prices due to lower energy costs, economic pressures, and food market inflation.
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Definition
Palm kernel oil is a vegetable oil extracted from the seeds of palm fruit. It’s commonly used in food, cosmetics, and industrial applications. It has a high saturated fat content, making it solid at room temperature. Palm kernel oil contains lauric acid, which contributes to its stability and shelf life. Its properties include resistance to oxidation, making it suitable for high-temperature cooking. It’s used in baking, frying, and as a component in various food products. Additionally, its presence in cosmetics and personal care products is due to its moisturizing properties and ability to create lather in soaps.
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 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 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 is utilized in a range of industrial applications due to its unique properties. In the food industry, it serves as a cooking oil for frying, baking, and food preparation due to its high smoke point and stability at high temperatures. Its solid consistency makes it a key ingredient in confectionery products, margarine, and spreads. In the personal care and cosmetics industry, it’s employed in skincare products, soaps, and shampoos for its moisturizing and cleansing properties. Moreover, palm kernel oil is used in biodiesel production, as a component in animal feed formulations, and in various industrial processes, illustrating its versatility across multiple sectors.
Key Players:
- Cargill Incorporated
- Wilmar International Ltd
- BASF SE
- Bunge Loders Croklann
- Natures Natural India
- IOI Corporation Berhad
News and Recent Developments:
As refiners took advantage of cheaper pricing to increase purchases, India’s imports of palm oil in July increased by 59% from the previous month to 1.08 million metric tons, the highest level in seven months. Increased imports from India, the largest consumer of vegetable oils worldwide, would benefit top producers.
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