1、GLOBAL MARKET REPORTPalm oil prices and sustainability SUSTAINABLE COMMODITIES MARKETPLACE SERIESVivek Voora,Steffany Bermdez,Johanna Joy Farrell,Cristina Larrea,and Erika LunaJune 2023Market OverviewPalm oil production continues to grow to match increasing demand.Palm oil is found in half of all su

2、permarket products,including shampoo,lipstick,body lotion,and packaged foods,in addition to animal feed,and biofuels(Rainforest Action Network,n.d.).Palm oil is a widely attractive ingredient due to its texture,taste,odour,consistency,and shelf life.It is relatively inexpensive,versatile,and the mos

3、t widely produced edible oil,meeting 40%of global demand for vegetable oil on less than 6%of all land dedicated to producing vegetable oils(Ritchie&Roser,2020;World Wildlife Fund WWF,2022).Consequently,its production has increased tenfold since the 1960s in response to the soaring demand for vegetab

4、le oils for food,feed,and fuel(European Palm Oil Alliance,2022).Originally found in West Africa,this tropical equatorial plant is cultivated on large plantations and smallholder plots,with global land coverage equivalent to the size of Brazil(Roundtable on Sustainable Palm Oil RSPO,2013).Oil palm yi

5、elds are 11 times higher than those of soybeans,10 times higher than sunflower,and seven times higher than canola per hectare(Thomas et al.,2015).Although 85%of global palm oil comes from Indonesia and Malaysia,palm oil is also grown in parts of Africa,South America,and Southeast Asia.Oil palm is a

6、highly productive perennial with a 25-year life cycle(Murphy et al.,2021).Its three main end products have different fatty acids and downstream uses:crude palm oil(CPO)extracted from the oil palm fruit is used primarily as edible oil,palm kernel oil(PKO)derived from the oil palm fruit seed is used f