Vegetable oils constitute an essential product group with vast applications for different food
purposes as well as oleo-chemical and energy purposes. The vegetable oil market, previously
dominated by rapeseed or canola oil, witnessed major change involving a shift to palm oil usage. Since the 90s, the most competitive oil has been palm oil followed by soy oil. Both
soybean oil and palm oil account for over 50 percent of global production of vegetable oils.
With an output of 5–10 times greater per hectare than other leading vegetable oils, palm oil
is the world’s highest yielding oil crop. Given its relative shelf stability, reasonable pricing and reported nutritional benefits, palm oil becomes the long-term staple of the global diet.