Global Pamloil market
Palm
oil is the vegetable oil produced in largest amount having pushed soybean oil
into second place in 2004/05. Palm is generally the cheapest commodity
vegetable oil and also the cheapest oil to produce and to refine. By reason of
its availability and (relatively) low cost, it is an important component of the
increasing intake of oils and fats in the developing world. Without the large
volume of exported palm oil from Malaysia and Indonesia, there would be a major
problem in meeting world demand for vegetable oil.
The oil palm originated in West Africa and was taken to
Malaysia (then Malaya) by the colonial rulers in the 1870s as an ornamental. It
was 1917 before the oil palm was first planted as an oil crop. The variety
Tenera (a hybrid of Dura and Pisifera) is now generally cultivated. The plant
is grown in a nursery for 12-18 months before it is planted in the field where
it bears fruit 30 months later and has an economic life of 20-30 years. A
mature tree produces 10-15 bunches a year. These are 10-20 kg in weight and
have 1000-2000 fruitlets. Each 10g fruitlet has a kernel (3-8% ), which is the
source of palmkernel oil. When pressed, the fruitlets give palm oil with an oil
extraction rate of ~20%. A normal plantation will yield ~ 4t of palm
oil/ha/year. The best plantations have yields of 7-8 tonnes/hectare and there
is evidence that some are even higher. Although there are peaks and troughs,
harvesting occurs all the year round producing a continuous supply of oil. The
fruit bunches and fruitlets cannot be stored and extraction must be carried out
as soon as possible. Many plantations have their own mill. For example, in
2005, Malaysia had 395 mills with a further 25 in the planning or construction
stages.
The oil is generally refined, bleached, and deodorised (RBD
oil) and much of it is fractionated to give palm olein and palm stearin thereby
extending the usefulness of this oil. During refining some valuable minor
products are removed though these may be trapped in a side stream for separate
use. Alternative refining procedures produce a red palm oil by retaining a
larger proportion of the carotenes in the crude oil. Since the carotenes are
biological precursors of vitamin A, the red oil can be used to reduce
blindness, particularly in children on diets otherwise deficient in carotenes.
Production of palm oil in 2010/11 was almost 48 million
tonnes coming mainly from Indonesia and Malaysia with smaller amounts from
Thailand, Nigeria and Columbia and the balance from over 20 other countries.
The Table contains information for the ten major consuming countries. It is
clear how important imported palm oil is to the highly-populated Indian sub-continent
(India, Pakistan and Bangladesh) with a combined annual consumption of at least
10.2 million tonnes.
Production in Malaysia has been an important element in
the development of that country and in the world supply of dietary oils and
fats in the last 30 years. Production in Malaysia has increased from only 1.3
million tonnes in 1975, through 4.1 million tonnes in 1985 and 7.8 million
tonnes in 1995 to 18.2 million tonnes in 2010/11. Production in Indonesia rose
from an even lower base to exceed Malaysian output in 2005/06. Malaysian and
Indonesian experience in producing, trading, and financing palm oil is now
being exported to other counties with favourable conditions for growing the oil
palm. Present production levels are
·
Indonesia (23.6 million tons)
·
Malaysia (18.2 million tons)
·
Thailand (1.3 million tons)
·
Columbia (0.8 million tons)
·
Nigeria (0.8 million tons)
·
Other (3.2 million tons)
Malaysia and Indonesia are the dominant exporters of palm
oil, exporting 90 and 70%, respectively, of the palm oil they produce. The
lower proportion in Indonesia is a reflection of the population in these two
countries of 230 million in Indonesia and only 27 million in Malaysia. On the
basis of trade in oils and fats in 2010/11, Malaysia supplied 27.1% of world
total as palm oil with Indonesia providing 27.2% as palm oil, so these two
countries together supply over one half of total trade in vegetable oils. Beyond
these figures there are also exports at lower levels of palmkernel oil and of
coconut oil from these countries. Global trade in oilseeds is dominated by soybeans(detailed in appropriate sections).
The major importing countries/regions are India, China and
EU-27. The USA has never been a significant consumer of palm oil and in the
past denigrated the oil as a “saturated tropical oil”. Consumption has risen
slightly in recent years as American food manufacturers revised their recipes
to lower the level of trans unsaturated acids produced through
partial hydrogenation of soybean oil. The large figure for “others” in the
imports and consumption columns is an indication of the very large number of
countries importing and consuming palm oil.
Palm oil is widely used in the food industry with, for
example, palm olein used as a frying oil and palm stearin as hardstock in the
production of spreads and cooking fats. A mid-fraction also produced during
fractionation is used as a cocoa butter equivalent (CBE). Palm oil is being
used increasingly for non-food purposes. In 2000/01 when production was 24.3
million tonnes, 3.5 million tonnes (15%) was used for industrial purposes. Ten
years later in 2010/11 those figures rose to 47.9 and 12.1 million tonnes
(25%). If or when palm biodiesel becomes a widely traded commodity, the
proportion used for industrial purposes will rise still further.
Palm oil is a source of valuable minor components,
particularly carotenes (especially α- and β-carotene) and tocols (especially
the tocotrienols).
Palm oil is
basically an edible oil and almost 90% of the world production is used in for
this purpose. The rest 10% of production accounts to the industrial uses. It is
used as a substitute for cocoa butter and butter flat. This oil has a unique
feature of remaining stable in a good range of temperatures and is often use to
fry foods. Also, palm wine is made from tapping and fermenting the palm oil and
it is very popular in the western African region.
The combined world
production effort of palm oil sums up to around 47.9 million tons with Indonesia
topping the production charts with around half of the production being done
there. Malaysia and Nigeria follow Indonesia at the second and third rank. The
production figure of palm oil makes it the second largest vegetable edible oil
produced around the globe after soy oil. The production trend of palm oil has
been up in the past few years accompanied by the consumption trend as well. An
estimate of the per capita consumption of palm oil in the world is 9 pounds per
year with the total consumption figure of around 47.1 million tons. China is
the maximum palm oil consuming country of the world. The major consuming
countries of palm oil in the world with their respective consumption figures
pertaining to the year 2010-11 are
- China (5.8 million tons)
- Indonesia (6.7 million tons)
- European Union (5.0 million tons)
- India (7.1 million tons)
- Malaysia (2.6 million tons)
- Pakistan (2.0 million tons)
- Nigeria (1.2 million tons)
- Bangladesh (1.0 million tons)
- Thailand (1.0 million tons)
- Egypt (0.6 million tons)
- USA (1.0 million tons)
The trade figures of palm
oil make it incomparable to other vegetable oil traded round the globe. Total world
exportabout 37.6 million tons, Approximately 80% of the world palm oil
production (24 million tons) gets exported to the importing countries and this
fact makes it the leading exported vegetable oil. The largest exporter of this
oil is its largest producer, Indonesia , followed by Malaysia with the exports
of around 16.4 million tons and 16.3 million tons respectively. These countries
contribute to over 90% of the palm oil exported in a year. The export trend has
also risen during the past few years. The other exporters of this oil are Papua
New Guinea, Colombia, Sri Lanka, Singapore, Jordan, Thailand, European Union
and United Arab Emirates.
The import figures of palm
oil hover around 35.6 million tons like the export figure. China leads the
importing list given below that also states the import figures individually
- China (5.7 million tons)
- European Union (4.9 million tons)
- India (6.7 million tons)
- Pakistan (2.1 million tons)
- Bangladesh (1.0 million tons)
- USA (1.0 million tons)
- Egypt (0.6 million tons)
- Russia (0.5 million tons)
- Turkey (0.4 million tons)
- Malaysia (0.3 million tons)
No comments:
Post a Comment