Palm Oil Market
Regions Covered
Asia
EU
Regions Covered
Asia
EU
Global palm oil production stands approximately at 70 MMT with major producers being Malaysia and Indonesia. Prices of palm oil is controlled largely by demand from bio-fuel and food industry. The fatty acid derivatives of palm oil are used in the production of bactericides, cosmetics, pharmaceuticals and water-treatment products. Increasing consumption of palm oil in the manufacturing process of soaps and detergents and in the production of greases, lubricants, and candles is further boosting the growth of the market. Moreover, increasing usage of palm oil as a substitute for trans-fat in processed foods is adding fuel to the growth of palm oil market. Sustainability challenges have always been a major concern in the palm oil supply chain. Companies have significantly shifted to RSPO certified palm oil sourcing.
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