Palm oil is a fatty edible vegetable oil, yellowish in color, derived from the flesh and the kernel of the fruit of the oil palm tree. The oil palm tree is a tropical, single stemmed tree having feather like leaves that gains a height of around 20 meters. Palm oil is used in the manufacturing of soaps, ointments, cosmetics, detergents, and lubricants and also as cooking oil. Commercially palm oil is used in various forms such as crude palm oil, crude palmolien, refined bleached deodorized (RBD) palm oil, RBD palmolien and palm kernel oil. The palm oil is produced by extraction from the reddish to orange pulps of the oval shaped fruits which grow on stalks in fresh fruit bunches (FFB) on the oil palms.
India imported 487,147 tonnes of palm oil. The industry in India presents massive potential for growth since the government has allowed 100% FDI in plantation and has also pledged huge financial aid to farmers in upcoming years. Palm oil is also anticipated to grow at the modest pace with over 6.3% CAGR. As a whole any entrepreneur can venture in this project without risk and earn profit.
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