Palm oil price is influenced by a complex set of interrelated factors. Among the most significant are currency exchange rates against the U.S. dollar, particularly the Malaysian ringgit and Philippine peso, as well as movements in palm kernel oil and crude oil prices, fluctuations in palm oil stock levels, and shifts in palm oil prices themselves.
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This variable refers to the benchmark physical market price for crude palm oil delivered within Malaysia under the nearest (front-month) contract position. It reflects spot-market supply and demand dynamics, serving as a key reference point for domestic pricing, trade settlements, and as an indicator of short-term market sentiment.
This variable represents the real-time market exchange rate at which the Malaysian ringgit (MYR) can be exchanged for one U.S. dollar (USD). It reflects immediate currency market conditions and is a critical indicator for trade competitiveness, capital flows, and commodity pricing, particularly in palm oil markets where USD-denominated contracts dominate.
This variable indicates how many Philippine pesos are required to purchase one U.S. dollar. It is a key measure of the peso’s relative strength in global currency markets and directly influences the Philippines’ trade balance, import costs, and commodity pricing, especially for USD-denominated goods such as palm oil.
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