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ICEX Commodity Profile – Palm Oil
Palm Oil is also known as palm fruit oil. It is an expeller-pressed
food oil, obtained from fresh fruit bunches (FFB) of oil palm cultivated
in plantations. Palm oil is the second largest edible oil and accounts
for approximately 23 per cent of the world's fats and oil supply. Since
80 per cent of palm produced is used in food - its nutritional
properties are of extreme importance. Palm oil is available in about 15
different grades, ranging from crude to semi-refined, refined, crude
fractionated, refined fractionated oil and refinery by-products. Crude
Palm Oil (CPO), Crude Palmolein, RBD (refined, bleached, deodorized)
Palm Oil, RBD Palmolein and Crude Palm Kernel Oil (CPKO) are the various
edible forms of palm oil traded in the market.
Economic importance
- Palm oil has major applications in food manufacturing and in the
chemical, cosmetic and pharmaceutical industries.
- Palm oil olein and stearin are popularly used worldwide in making
margarine, shortenings and confectionery, and in frying snack foods.
- It also gives fried products a longer shelf life.
- It has non-edible applications that include the manufacture of soaps,
biodegradable detergents, and in oleochemical products such as fatty
acids, and other derivatives for the manufacture of cosmetics,
pharmaceuticals and industrial products.
Global Scenario
Palm oil dominates the global vegetable oil export trade. Malaysia and
Indonesia are the two largest producers of palm oil accounting for
35.7Mt of world production, or 87% in 2007/08. Indonesia has nearly
quadrupled output in the past decade from 5Mt in 1997/98 to around
18.3Mt in 2007/08 making it the largest producer of palm oil in the
world. India, China, Pakistan, the Middle-East countries and the
European Union are the major importers of the commodity. India and China
are the largest importers of Asian palm oil.
Domestic Scenario
India, which is one of the largest importer and consumer of edible oils
in the World, imports nearly 3 million tons of palm oil annually (mainly
from Malaysia and Indonesia). This implies that the country is dependent
on palm oil imports for over 25% of its annual edible requirement. The
domestic production is very meager, accounting for approximately 0.2%
share in the world’s total production. Kerala is the largest palm
producing state in India.
India imports crude palm oil mainly from Indonesia while from Malaysia
it imports mostly refined, bleached and deodorised (RBD) palm olein. |
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