Crude Palm Oil
What is palm oil used for?
Palm oil is the most consumed vegetable oil in the world and is widely viewed as a healthy alternative to hydrogenated oils such as soya and sunflower oil. It is used in a growing number of industrial processes and a wide variety of food and other household products including:
- Cooking oil
- Processed foods such as bread, margarine, biscuits, chocolate, pies and pasties, chewing gum, ice cream and other frozen food products. Its widespread use is illustrated by the fact that around forty percent of the top one hundred food brands in the UK contain palm oil
- Consumer goods such as soap, detergents, cosmetics and pharmaceuticals
Worldwide demand for palm oil
The demand for palm oil has risen steadily over the last thirty years. Since the turn of the century the market has more than doubled in financial terms. It is now an important global commodity with an annual traded value of nearly $50bn in 2011 (around $24bn in 2000). This is projected to rise, with an estimated annual growth rate of between five and six percent, to approximately $63bn by 2015.
Palm oil produced by Equatorial Palm Oil (EPO)
EPO is working towards becoming a sustainable low cost producer through its ownership of oil palm estates in Liberia and the operation of its oil mill which is located at the Palm Bay Estate.