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IPalm oil is obtained from the fruit of oil palms that belong to the species Elaeis guineensis and Elaeis oleifera. Owing to its versatility, it is used as a raw material in the food and non-food industries.
A large percentage of the everyday food products contain palm oil. Low cost and the characteristic oxidative stability of palm oil are the reasons for its widespread use across the food industry. Palm oil is also used in the Bio-fuel industry to create Palm Bio-diesel. Palm oil is the largest traded vegetable oil in the world. Palm oil and palm kernel oil contribute to 30% of the total vegetable oil output in the world.