History and business prospects of the palm oil industry, case of Malaysia

With a global production of almost 60 million tonnes and a global vegetable oil market share of more than 35% by weight in 2012 (MPOB, 2015), palm oil is the most produced vegetable oil in the world. The diverse range of uses in food, cosmetics, and other commodities, as well as biofuel, combined with a market price below that of its competitors (MPOB, 2015), makes palm oil and its coproduct, palm kernel oil, attractive products. Oil palms grow in humid tropical environments and compete for space with carbon and biodiversity rich tropical rainforest, referred to as high carbon stock forest and forests of high conservation value. Southeast Asia is the leading region for palm oil production but commercial plantations are on the rise in Latin America and West Africa.