how lucrative is palm oil production in gambia

                                               
                                               
                                               
                                               
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  • Is palm oil a commodity?
  • The story of palm oil is less about it as an isolated commodity and more about the rising demand for vegetable oils. Palm oil is a very productive crop; as we will see later, it produces over a third of the world’s oil but uses less than a tenth of croplands devoted to oil production. It has, therefore, been a natural choice to meet this demand.
  • How has palm oil changed over the years?
  • Between 1970 and 2020, the world’s production of palm oil increased by about 40 times. Global production went from only 2 million tonnes to around 80 million tonnes. The change in global production is shown in the chart.3 The story of palm oil is less about it as an isolated commodity and more about the rising demand for vegetable oils.
  • How much land is used to grow palm oil?
  • Between 1970 and 2020, the land the world uses to grow palm has increased by almost ten times, from 3 million to almost 30 million hectares. Indonesia and Malaysia account for around 70% of global land use for palm oil. This is relatively little, considering that these countries account for more than 80% of production.
  • Where is oil palm grown?
  • Oil palm is a tropical plant species. It thrives on high rainfall, adequate sunlight, and humid conditions ? this means the best growing areas are around the equator.4 Palm oil is therefore grown in many countries across Africa, South America, and Southeast Asia. In the map, we see the distribution of production across the world.