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Crude Palm oil
Crude palm oil (CPO) is an edible oil produced from the fruit of the oil palm. It is naturally reddish as it contains high amounts of beta-carotene. Its scientific name is Elaeis guineensis.
Palm oil and Palm kernel oil is the two main oils acquired from the flesh and kernel of the Oil Palm fruit respectively.
Palm Oil is mainly used for cooking. Palm Oil and derivatives known as fractions of the oil are used in the manufacture of pre-packaged food, cosmetics, cleaning products, hair care, soaps and personal care items. Palm Wax is used in the manufacture of candles.
Palm oil is also used to manufacture bio fuel for motor vehicles, shipping and aircraft fuel and one of its by-products is glycerin.
Global palm kernel yield is about 4 million tons a year. Palm kernel oil is a raw material in the production of non-food products like soaps, detergents, toiletries, cosmetics and candles.
Life span of Oil Palm tree is about 25 to 30 years. The tree can grow up to 30 feet high. After planting, the Oil Palm begins to produce the fruit after 30 months, and the fruit will be ready for harvesting in six months. At this stage, the yield is generally low. The yield increases to its best in 18 years growth.
After 18 years, the yield starts to decrease. The commercial life span of Oil Palm is about 25 years. Eighteen to thirty tons of fresh fruit bunches are produced by a fully matured Oil Palm.
On average 3.9 tonnes of crude palm oil and 0.5 tonnes of palm kernel oil are extracted from a hectare. Palm oil requires 10 times less land than other oil-producing crops.
Leading palm oil producing states in India are Andhra Pradesh, Kerala, Karnataka, Orissa, Tamil Nadu, Goa and Gujarat.
85% of the world’s crude palm oil comes from Indonesia and Malaysia, followed by Thailand, Colombia, Nigeria, Papua New Guinea, Ecuador, Honduras, Ivory Coast and Brazil. World palm oil production totaled 59.4 million tons in 2015-16.
Major palm oil exporting countries are Indonesia , Malaysia, Benin, Papua New Guinea, Guatemala, Colombia, Honduras, Ivory Coast, Ecuador and United Arab Emirates.
India is the largest importer of palm oil, followed by European Union, China, Pakistan, Egypt, Bangladesh, United States of America, Myanmar, Russia and Vietnam.
Global consumption of palm oil was 60.95 million tons in 2015-16, according to USDA.
Local trading hubs for Palm oil in India are:
Tamil Nadu (Chennai)
West Bengal (Haldia)
Andhra Pradesh (Hyderabad, Kakinada, Krishnapatnam)
Gujarat (Kandla) and Delhi
Crude palm oil traded in the commodity futures market on MCX and NCDEX in India.
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