For the Quarter Ending June 2023

North America

The Palm Kernal Oil (PKO) market in North America experienced a mixed trajectory during the second quarter. Prices initially rose as imports were moderate and supplies from exporting nations, notably Malaysia, were weak. This disrupted the market trend until April 2023. However, prices later fell globally due to weak regional trade activity and higher stocks in warehouses. Despite falling energy prices, the US still faced underlying inflation that exceeded the Federal Reserve's target rate. Domestic producers managed to meet local demand despite challenges posed by high inventory levels. However, food inflation in the US increased to 10.1% in May 2023. As the second quarter concluded, Palm Kernal Oil prices stabilized in the United States, with moderate demand from the domestic market balanced out by overall supplies from merchants.

Asia Pacific

In the Asia Pacific region, the price trajectory of Palm Kernal Oil (PKO) showed fluctuations in Malaysia, a major exporter of PKO. During the first half of Q2 2023, prices were erratic, mostly trending upward. Fluctuations during the quarter shift were primarily due to increased demand during Ramadan and constrained supply. However, prices steadily dropped in the region around the middle of Q2 due to higher outputs from Malaysia and other major palm oil producers, as well as weak demand from suppliers. In May 2023, the Malaysia Manufacturing PMI fell to 47.8, marking the 9th consecutive month of decline. New orders decreased, and supplier delivery times were shortened. As Q2 ended, palm kernel oil inventories increased at a slower rate, and the region's overall demand was adequately met by domestic retailers.



Get Real Time Prices of Palm Kernal Oil (PKO): https://www.chemanalyst.com/Pricing-data/palm-kernal-oil-1527

Europe

Palm Kernal Oil (PKO) prices in the European market mirrored those in the Asia Pacific region during Q2 2023. Prices initially increased at the beginning of the quarter due to supply disruptions from exporting countries, particularly Malaysia. However, prices declined significantly after April, influenced by weaker market fundamentals and consumers' cautious attitude amidst high-cost inflation caused by the Russia-Ukraine conflict. As June approached, prices remained steady, maintaining a balance between overall supply and demand dynamics in the region. Merchants successfully managed higher stockpiles, resulting in fewer quotations from traders throughout June.



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