櫚 combines 木 (tree) with 閭, which likely contributes the sound. The character was created to name a specific tree, but the detailed historical development is uncertain.
Meaning mnemonic
A tree 木 with a gate-like shape 閭 on the right: imagine a quince tree growing beside a village gate, its fruit hanging over the entrance.
Reading mnemonic
For ロ, picture a row of quince trees lining a path: row -> ロ, and each tree is a 櫚.
