Palm Oil Market Comprehensive Study Explore Huge Growth in Future| Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast-2025

(The Express Wire via Comtex)

Palm Oil Market Edges Technological Sophistication with Unique Blockchain Integration

Tremendous adoption upsurge across end-use applications such as FandB, paints and lubricants, personal care and cosmetic industries are slated to ensure thriving growth for palm oil market, finds Adroit Market Research.

Need for higher yield and better throughput, palm oil industry players are effectively banking upon novel technological sophistication. Countries such as Malaysia are pioneering new initiatives in this regard.

MPOC Undersigns Collaborative Agreement with BloomBloc for New Pilot Project in Palm Oil Production

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Top Key [email protected] Wilmar International Limited (Singapore), Cargill Inc. (U.S.), IOI Corp. (Malaysia), Sime Darby (Malaysia), Golden Agri Resources Limited (Singapore), Godrej Agrovet Limited (India), Kulim BHD (Malaysia) and London Sumatra (Indonesia).

In a new development, the Malaysian Palm Oil Council (MPOC) has recently undersigned an agreement with technology partner, BloomBloc to incorporate blockchain technology in Malaysian palm oil industry. The dual effort has enabled development of a new blockchain mobile application and web interface to track, account and monitor end-to-end palm oil production throughout the value-chain.

This digital ledger helps in keeping a complete track record of each of the palm trees and other vital information which are available in the system. The initiative is still at a pilot phase and will now available to select palm oil producers and vendors in Malaysia. However, it is estimated that blockchain integration to incorporate accountability and traceability are likely to further fuel optimistic growth strides in palm oil market in upcoming years.

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Palm Oil Certification Emerging as a Bankable Tool to Ensure Sustainable Production Architecture

Palm oil industry is facing significant backlash as palm oil production contributes towards deforestation of tropical rain forests, thereby adversely affecting ecological balance.

Companies in the palm oil market are investing towards sustainable production technologies. In this regard several mergers and corporate mergers are underway to transform technological loopholes and usher in novel production practices to fill the gaps. One of the most reliable ways to transform palm oil production and supply-chain is introduction to certification Companies such as The Unilever is encouraging certification method as one of the potent ways to monitor entire palm oil supply-chain.

Key segments of the global palm oil market include:

  • Type Segmentation
  • Palm kernel oil
  • Crude palm oil
  • Others
  • Application Segmentation
  • Bio-diesel
  • Cooking oil
  • Lubricant
  • Cosmetics
  • others
  • Geographical Segmentation
  • Europe
  • Asia Pacific
  • North America
  • Rest of the world (RoW)

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About Us :

Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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Press Release Distributed by The Express Wire

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