How much has palm oil price dropped from its 2008 peak?

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Palm Oil Prices Decline Significantly from 2008 Peak

Palm oil prices have seen a substantial decrease, currently standing at RM2,200 per tonne, which is approximately half of its peak price in 2008. This decline is a significant concern for Malaysia, as the nation is the world's largest exporter of palm oil.
Current Market Value

This week, palm oil closed at RM2,200 per tonne. This figure represents a considerable reduction when compared to historical highs.
Historical Peak Price

In 2008, palm oil reached a peak price of RM4,298 per tonne. The current price is roughly 51% of this peak value.
Impact on Exporters

The downward trend in palm oil prices has a direct and substantial impact on major exporting nations like Malaysia. Efforts by the Primary Industries Ministry to counter negative perceptions in the West, which are cited as a reason for lower demand and prices, have not fully reversed this trend.

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How much has palm oil price dropped from its 2008 peak?

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