Palm oil, one of the least expensive and high yielding crop, is a derivative of the oil palm (Elaesis guineensis) and is an essential component of diet. The oil palm is known for production of two types of oils from its fruit; first; the oil derived from the flesh of the fruit that is mainly serves the purpose of cooking oil, shortening, margarines, as a milk fat replacement, and in cocoa butter substitutes. The other oil is primarily used in manufacturing of soaps, cosmetics, detergents, and toiletries and is derived from the kernel. Oil Palm, the world’s highest yielding crop, is capable of producing an output that is 5 to 10 times greater than the output of other vegetable oils per hectare thereby, making it one of the most widely consumed oil across the globe.
MRRBIZ: Global Palm Oil Market Research Report: 2014