Palm oil is an edible vegetable oil with a neutral flavor. It comes from the fruit of the oil of palm trees (Elaeis guineensis). Palm oil trees originated in Africa, but over 100 years ago, the crop was brought to Southeast Asia.
The world's biggest palm oil exporter plans to halt shipments of refined, bleached and deodorized (RBD) palm olein but will allow exports of crude palm oil or other derivatives from Thursday.
The move by the world's biggest palm oil producer to ban exports from Thursday will lift prices of all major edible oils including palm oil, soyoil, sunflower oil and rapeseed oil, industry watchers predict.