The oils and fats industry
Oils and fats are to a great extent interchangeable, subject to the different amounts of processing each may require to make a particular product.
Palm kernel oil and coconut oil, described as lauric oils, have different specific uses to the other main vegetable oils.
With the exception of palm oil, which is derived from a perennial tree crop, all the other main vegetable oils are derived from the seeds of annual crops. These seeds, when crushed, produce both oil and meal.
Animal fats comprise butter, lard, fish oil and tallow.
The supply of soya beans and demand for soya oil and soya meal are a major determinant of vegetable oil prices.
