Palm oil use increasing

Hemanthi GURUGE

Use of palm oil in the country has rapidly increased due to the increase of coconut oil prices with the coconut shortage in the country, said Coconut Research Institute Acting Director Dr Jayantha Gunathilake. He said that there is a huge price difference between coconut oil and palm oil now. The price of coconut oil has increased also because of the high demand for it in the international market, he added.

Palm oil has higher consumption internationally than coconut oil. Palm oil consumption in the world is nearly 35 percent and coconut oil consumption is about two percent.

"Similar prices for both palm and coconut oils in the local market was maintained during the past years," Gunathilake added.