Palm Oil Price Inflated by Rain in Indonesia

China, India and the EU are the top importers of palm oil (responsible for 50% of global trade in this product). Palm oil is the major traded vegetable oil (60% of flows) whereas sunflower oil is about 25%.

Palm oil is produced predominantly in South East Asia. Indonesia has about 45% of global palm oil production, closely followed by Malaysia at 40%, then Thailand and other countries.
Prices were driven up to 2,737 ringgit per tonne due to the heavy rains which could also affect thermal coal output (Indonesia is the world's largest exporter of thermal coal, with a major mines operating in Kalimantan). The largest palm oil producer in Latin America is Colombia.

Nutritionally, palm oil has extremely high carotene and is useful in combating vitamin A deficiency.