Abstract
The vegetable oil industry has witnessed significant growth over the past few
years on account of a growing population as well as the rising demand for
alternative energy sources. Among the various types of vegetable oil, palm oil
(including palm kernel) accounted for the largest share of the global
production in 2007, followed by soybean and rapeseed oil. Of the available
vegetable oils, palm oil is the most productive and has the lowest cost of
production, thus accounting for the major share of the global vegetable oil
output. In recent years, the rising health concerns have also accelerated the
demand for palm oil, particularly in the developed markets.
Palm oil use is broadly separated into food and non-food categories. The
product is mainly used as cooking oil but is also increasingly being used in
the preparation of other food articles. As a non-food ingredient, the product
finds application in the production of cosmetics, toiletries, soaps and
detergents. Although, FMCG is the largest market, the utilization of palm oil
for the production of biodiesel has been growing steadily. Apart form this,
the switch of consumers from loose oil to packed oil, particularly in emerging
markets, is also expected to boost the palm oil industry' s growth in the
future.
Geographically, Indonesia and Malaysia are the largest producers of palm oil,
while China and the EU are the largest consumers. In Europe, Germany is the
largest producer of palm oil, followed by France and Italy. The emerging
markets, like China, India and Indonesia consume more than 80% of palm oil.
Due to rising population and increasing income, the emerging markets including
China and India are anticipated to record an increase in demand for palm oil.
On the whole, the report analyzes the growth drivers and challenges of the
palm oil industry and assesses opportunities available for the players. The
report focuses on the production capacity, government initiatives, challenges
and future potential of the three large producers of palm oil - Indonesia,
Malaysia and Colombia. Further, the report analyzes the top palm oil companies
- PT Astra Agro Lestari, IOI Corporation and Wilmar International.
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