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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.
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.
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 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]
The IOI refinery in Rotterdam, Netherlands is the largest palm oil refinery in Europe. IOI's oil palm plantations in Malaysia and Indonesia produce palm oil and palm kernel oil. These oils are made into specialty oils, metallic stearates and fats that are used in soaps, detergents, cosmetics and food additives.
PPB is also the single largest shareholder of Wilmar International, one of the leading palm oil producers and agribusiness companies in the world. The company was founded in 1968 as Perlis Plantations Berhad (from which it derives its current name) by Robert Kuok to cultivate and mill sugar cane in the northern Malaysian state of Perlis.
Martua Sitorus (born as Thio Seng Hap, 1960) is an Indonesian businessman and palm oil magnate.He was once known as the fourth richest person in Indonesia (and #377 in the world), but had decreased to fifteenth by December 2018, [2] according to Forbes. [3]