Commodity control schemes for palm oil: is there a need?

Abstract

World production of oils and fats has been mounting a million tons a year for the last decade, reaching an all time high figure of 41 million metric tons in 1971. In terms of the source of origin, edible vegetable oils comprise the largest group of oils and fats. There are numerous sources of vegetable oil, but only eleven figure prominently in international trade. Together they account for over 90% of all commercial oils of vegetable origin, and 70% of all oils and fats. Placed in a general order of importance in the 1960's and each contributing not less than 150,000 metric tons annually to world trade, are soyabean oil, coconut oil, palm oil, linseed oil, palm kernel oil and rapeseed oil. However, if we look at them in terms of total production, soyabean oil, cottonseed oil, groundnut oil, sunflower seed oil, rapeseed oil, sesameseed oil, olive and corn oils, together produce more than 50% of the total The second largest group, accounting world's oils and fats tonnage. for a little over 30% of the worlu's total production, is the animal fats which include butter, lard, tallow and greases. The third group, marine oils, consist mainly of whale and fish oils and constitute only 3% of the world production of oils and fats.