Commodity Origins

Palm oil price history, 1960 to 2026

Malaysia, CIF Northwest Europe averaged $1,180/t in September 2026, +14% over twelve months and +48% over ten years. The nominal all-time high was $1,777/t in March 2022; in 2024 dollars the real peak was $5,167/t in October 1974. Monthly averages, World Bank Pink Sheet.

Converted from USD at the latest available monthly average rate (Federal Reserve via FRED); the chart and tables below stay in USD.

Palm oil monthly prices, $/t, Jan 1960 to Sep 2026Line chart of palm oil monthly prices in $/t from Jan 1960 to Sep 2026: Malaysia, CIF Northwest Europe from 233 to 1,180, peaking at 1,777.05001,0001,5002,00019601965197019751980198519901995200020052010201520202025$/tOPEC oil embargo, Oct 1973 (Embargo announced 17 October 1973, following the Yom Kippur War (6 October 1973))Iranian Revolution, Jan 1979 (Shah of Iran deposed, 16 January 1979)Iraq invades Kuwait, Aug 1990 (2 August 1990)Asian financial crisis begins, Jul 1997 (Thailand floats the baht, 2 July 1997)September 11 attacks, Sep 2001 (11 September 2001)Lehman Brothers collapse, Sep 2008 (NBER Business Cycle Dating Committee, US recession December 2007–June 2009)Fukushima Daiichi nuclear accident, Mar 2011 (11 March 2011)OPEC holds output steady amid oversupply, Nov 2014 (OPEC 166th Meeting, 27 November 2014)COVID-19 declared a pandemic, Mar 2020 (World Health Organization, 11 March 2020)Russia invades Ukraine, Feb 2022 (24 February 2022)Israel-Hamas war begins, Oct 2023 (7 October 2023)
Malaysia, CIF Northwest Europe

Dashed lines: OPEC oil embargo (Oct 1973); Iranian Revolution (Jan 1979); Iraq invades Kuwait (Aug 1990); Asian financial crisis begins (Jul 1997); September 11 attacks (Sep 2001); Lehman Brothers collapse (Sep 2008); Fukushima Daiichi nuclear accident (Mar 2011); OPEC holds output steady amid oversupply (Nov 2014); COVID-19 declared a pandemic (Mar 2020); Russia invades Ukraine (Feb 2022); Israel-Hamas war begins (Oct 2023). Hover a line for the source of its date.

Derived price statistics per series
SeriesLatest1 month12 months5 years10 years20 yearsAll-time high (nominal)All-time high (real, 2024 US$)
Malaysia, CIF Northwest Europe
$/t, since 1960		1,180
September 2026		+4%+14%-0%+48%+131%1,777
March 2022		5,167
October 1974

Percentage changes compare the latest monthly average with the monthly average 1, 12, 60, 120 and 240 months earlier. Real prices deflate by the US consumer price index (BLS via FRED) to 2024 dollars.

Source: World Bank Pink Sheet, 2026-10-02, fetched 6 October 2026 (CC BY 4.0).

Prices are monthly benchmark averages that may lag the market; informational only, not investment, legal or trade advice. For what these benchmarks mean and how they are set, see how palm oil is priced.

Monthly palm oil prices by decade

Choose a decade. Values are monthly averages in the unit shown; blank cells mean no quote was published.

Malaysia, CIF Northwest Europe ($/t)

Malaysia, CIF Northwest Europe monthly prices, 2020s, $/t
YearJanFebMarAprMayJunJulAugSepOctNovDecAverage
20208107296366095776566947607968199181,016751.7
20219901,0201,0301,0781,1361,0041,0631,1421,1811,3101,3411,2701,130
20221,3451,5221,7771,6831,7171,5011,0571,0269098899469401,276
20239429509721,005934817879861830804830814886.5
20248458579439368598748969339831,0771,1691,190963.5
20251,0701,0671,0689949089359761,0261,0371,0389839801,007
20261,0131,0641,1671,1811,1681,1421,1331,1321,1801,131

Method

Nominal prices are the source's monthly averages in US dollars, stored in the source's unit and never mixed on one chart. Real prices divide each month by the US consumer price index for all urban consumers (BLS series CPIAUCSL, via FRED) and multiply by the 2024 average, so they read as "2024 dollars". Changes are ratios of monthly averages. The all-time high is the highest monthly average, not an intraday peak.

Downloads

Cite as: Commodity Origins, "Palm oil price history (1960–2026)", https://commodityorigins.com/prices/palm-oil/, data 2026-10-02. Data updated 22 October 2026.