Palm oil is one of the world's most produced and consumed oils. This affordable, production-efficient and highly stable oil is used in a wide variety of food, cosmetic and hygiene products, and can be used as source for bio-fuel or biodiesel. palm oil-producing nations. Together with Malaysia, they made up almost all the world s production and exports of palm oil. however, which exported the majority of the palm oil it produced, Indonesia was also one of the world s biggest consumers of palm oil, using it as both an edible oil and in biofuels.