Palm Oil Industry Looks to H1 to Boost Sales in the West
Southeast Asia’s palm oil mills and refineries are turning to food-grade lubricants in a bid to make their products more attractive to Western markets.
Global demand for food processing equipment has been rising fairly steadily over the past two decades. According to the Freedonia Group, demand for such equipment will continue to climb from $52.2 billion in 2018 to $57 billion in 2023, despite the setback of the covid-19 pandemic. Industry in Southeast Asia is poised to take advantage of the growing appetite evidenced by this trend, including providing the palm oil that goes into a large number of processed foods.