Indonesia is the biggest palm oil producer in the world, with the U.S. Department of Agriculture crediting it with a nearly 60 percent share of global production. The versatility of palm oil—it is used in cosmetics, food products, detergents—is a key reason for its popularity, which translates to a global market worth some US$60 billion that is predicted to reach US$100 billion by 2030.
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Source: Phys.org