A mould release lubricant comprises of palm-derived base fluid and a specialty additive of satisfactory mould release and lubrication properties such as a tackifier, and if deemed necessary, other additives to improve the lubrication of the mould, is disclosed. The lubricant comprises at least one vegetable base fluid and/or its derivatives having good low temperature fluidity property, and at least one tackifier. The mould release lubricant disclosed in the present invention is used in construction industry (especially concrete construction) for lubrication during the process of detaching the moulded concrete from the mould (formwork) and prevents adhesion of freshly placed concrete to the forming surface.