What it is
The oil pressed from the fruit of the oil palm. It is the most widely used vegetable oil in the world, found in cooking oil, processed food, soap and cosmetics, and it is also made into biodiesel.
How it is usually quoted
Malaysian ringgit per tonne.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
Bursa Malaysia Derivatives.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Rainfall and the seasonal cycle of yields on the plantations
- Indonesia’s export levies and its biodiesel blending rules
- The price of soybean oil and other competing oils
- Buying by India and China
- The supply of plantation labour
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Indonesia and Malaysia produce the great majority. Thailand, Colombia and Nigeria follow.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Crude palm oil is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.