Answer:
Step-by-step explanation:
Palm oil is in high demand for several reasons:
Versatility: Palm oil is highly versatile and used in a wide range of products, from food and cosmetics to household and industrial products. Its ability to remain stable at high temperatures makes it suitable for frying and baking. It is also a common ingredient in processed foods, including snacks, baked goods, and margarine.
Cost-effectiveness: Palm oil is a relatively low-cost vegetable oil, which makes it an attractive option for manufacturers. Its high yield per hectare and efficient extraction process contribute to its cost-effectiveness.
Shelf-life extension: The high saturated fat content of palm oil contributes to the longer shelf life of many products. This property is particularly valuable in processed foods, as it helps prevent spoilage and reduces the need for additives.
Texture and mouthfeel: Palm oil contributes to the texture and mouthfeel of various products, such as margarine and baked goods. It helps create the desired creaminess and consistency in many food items.
Biodiesel production: Palm oil is used in the production of biodiesel as an alternative to fossil fuels. This demand has increased as countries seek to reduce their reliance on traditional fuels and lower carbon emissions.
Economic factors: The palm oil industry is a significant contributor to the economies of countries where it is produced, particularly in Southeast Asia, where it is a major export. This economic importance drives continued demand for palm oil.
Population growth and urbanization: As the global population continues to grow and more people move to urban areas, there is an increased demand for processed and convenience foods, which often contain palm oil.
Biofuels and renewable energy: In some regions, palm oil is used in the production of renewable energy sources, such as biogas and biomass. This contributes to its demand as a renewable resource.