Malaysian palm oil futures extended gains to above MYR 6,500 per tonne in June, trading not far from a record high of MYR 7,268 hit in early March, amid persistent supply concerns. The production outlook in Malaysia continues to deteriorate amid a labor crunch, with worries over lower inventories supporting the market. At the same time, Indonesia has so far re-entered the export market only slowly, with export volumes allowed significantly low. Indonesia and Malaysia account for about 85% of the world’s palm oil supply. On top of that, demand remains robust, with top buyer India’s imports in May at their highest in seven months. The country overcame curbs on Indonesian exports by buying more of the commodity from other producers, particularly Malaysia. Palm oil prices are now more than 35% higher this year as Russia’s invasion of Ukraine disrupted sunflower oil shipments and export restrictions in top producer Indonesia further squeezed global supplies. Historically, Palm Oil reached an all time high of 7268 in March of 2022. Crude Palm oil is vegetable oil and it’s used primarily in processed food. Indonesia and Malaysia constitute 85% of the world’s palm oil supply followed by Nigeria, Thailand and Colombia. The contract size is 25 metric tons and it’s traded at Bursa Malaysia. The Palm oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.Please Add a comment before the calling of Palm Oil, we will inform your mail address to the owner of the fish. They will reach to you from email or your phone.