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Article: Hearty oil.(palm oil industry)(Brief Article)
- Article from:
- Revista Latin Trade
- Article date:
- January 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Freedom Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Crude isn't the only oil in Colombia. Colombia has become the largest producer of palm oil in Latin America and the fifth largest in the world, trailing Malaysia, Indonesia, Nigeria and Thailand. Palm oil can only come from moist, tropical locations. Since Colombia hosts such a climate, palm oil sales have flourished into a US$350 million industry, accounting for 1.5% of gross domestic product, according to Fedepalma, a trade association for the Colombian palm-oil industry.
Palm oil trails only soy as the source of the world's leading cooking oil, and in Colombia, the industry hopes demand grows at home and abroad, especially in the United States, which producers ...