Palm oil consumption grows all over the world rapidly

Today, 35 percent of the vegetable oil production and consumption in foods, cosmetics, medicines, lubricants and in biodiesel is palm oil – the Conclude Investment Ltd. informed MTI.

Nearly 35 percent of the 166 million tons of annual vegetable oil production is palm oil completed September of 2013.

In recent years, the use of biodiesel has increased. According to the datas of the Hungarian Petroleum Association the domestic fuel sales last year was 2.8 billion liters, of which 1.2 billion liters was petrol and 1.6 billion liters was gasoline. Bio materials’ ratio in case of both fuels was 4.9 percent. The Hungarian biodiesel production is estimated 150 thousand tons per year. (MTI)