Palm oil is a form of edible vegetable oil obtained from the fruit of the Oil palm tree. The oil palm is a tropical palm tree originally from West Africa. Palm kernel oil made from the seeds is used as cooking oil, to make margarine and is a component of some processed foods. Palm oil is high in olefins, a potentially valuable chemical group that can be processed into many non-food products as well.
Palm oil has the largest slice of the world vegetable oil market - 28%, followed by soybean oil. 50% of world palm-oil production comes from Malaysia. World palm oil trade totals $13 Billion yearly.