The European Union (EU) which covers a land area of 4.32 million square kilometres comprises 27 member states with a total population of 501 million. With an annual per capita usage of over 41 kg, the EU is a leading user of oils and fats, with an annual consumption exceeding 30 million tonnes. The EU is a net importer of oils and fats, as its domestic production of about 22 million tonnes is insufficient to meet its annual consumption. Palm oil is among the major oils imported by the EU, making the region as a whole, the world’s second largest market for palm oil.
Keywords: FUTURE TRADING, MPOB PUBLICATIONS, PALM OIL, OILS & FATS, DEMAND, SUPPLY