The price of palm oil, which has gained favour over the last few years as a cheap biodiesel feedstock, is soaring. Another relatively new use of palm oil is as a trans-fat substitute for use in processed food. But the oil palm, grown mainly in Malaysia and Indonesia, is not well liked - it has been blamed for rainforest destruction, the death of orang-utans, air pollution and exploitation of workers.
- Bruno Vanzieleghem
- Aug 28, 2006
While we are all aware of steep increase in oil prices over the last three years, how many of us knew that the price of palm oil reached a two year high, and is topping the price increases of crude oil? While palm oil is normally used to make mayonnaise and chocolate bars, the price increase is not due to an increasing demand in junk food. The surge is fueled by a demand from biodiesel production facilities, emerging everywhere around the world. The palm oil prices rose 17 percent in the past ye
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