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According to the Hamburg-based Oil World trade journal, [115] in 2008 global production of oils and fats stood at 160 million tonnes. Palm oil and palm kernel oil were jointly the largest contributor, accounting for 48 million tonnes, or 30% of the total output. Soybean oil came in second with 37 million tonnes (23%). About 38% of the oils and ...
Oil palms (Elaeis guineensis) Oil palm fruit is one of the most widely produced primary crops in the world.. An estimated 1.5 million small farmers grow the crop in Indonesia, along with about 500,000 people directly employed in the sector in Malaysia, plus those connected with related industries.
Oil from Elaeis guineensis is also used as biofuel. Human use of oil palms may date back to about 5,000 years in coastal west Africa. Palm oil was also discovered in the late 19th century by archaeologists in a tomb at Abydos dating back to 3000 BCE. [6] It is thought that Arab traders brought the oil palm to Egypt. [citation needed]
The newly recognized African oil palm weevil, E. kamerunicus, was approved for importation and brought to the plantations of Malaysia in 1981. Its release was a great success, dramatically improving palm oil production, ending the costly and time-consuming practice of hand-pollination, and speeding plantation expansion, all with little to no ...
The biggest source of wealth that has contributed to his private fortune is a stake in the Singaporean company Wilmar International, the world's largest listed palm oil trader company. [10] For three months in 2018, Kuok was appointed to the Council of Eminent Persons as an advisor during Mahathir Mohamad's second stint as prime minister. [11]
In 1995, Malaysia was the world's largest producer, with a 51% of world share, but since 2007, Indonesia has been the world's largest producer, supplying approximately 50% of world palm oil volume. Worldwide palm oil production for season 2011/2012 was 50.3 million metric tons (55.4 million short tons), increasing to 52.3 million metric tons ...
The Council of Palm Oil Producing Countries (CPOPC) is an intergovernmental organization founded by Indonesia and Malaysia to collectively promote the global use of palm oil. Together, the two countries produce the majority of the world's palm oil, a product that has come under pressure due to environmental concerns.
Palm oil production is important to the economy of Indonesia as the country is the world's biggest producer and consumer of the commodity, providing about half of the world's supply. [1] In 2016, Indonesia produced over 34.6 million metric tons (34,100,000 long tons; 38,100,000 short tons) of palm oil, and exported 25.1 million metric tons ...