Palm oil today is the leading edible oil traded across the world market, accounting for more than 40% of the total export trade of 17 variety oils and fats. Though India is a key player in the importing and manufacturing palm oil, it is Malaysia which is the world's largest producer and exporter of Palm oil with 50% share of world palm oil production and 61% exports. Indonesia, Nigeria, Argentina & Brazil are also key players in this trade.
There is a growing demand for edible oils in India, which are being met through imports due to limitation in growth of domestic production. With the government's policy of lower duty on crude oil vs refined oil, there is a need for additional refining capacity in the country to meet the increasing demand.
