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China Is Largest Edible Oils Market
China has emerged as the largest edible oils market, accounting for 30% of the world trade in vegetable oils.
Among trends in the industry observed by experts: the controversy over trans-fatty acids and genetically modified oils (GMO) is likely to impact soy oil consumption across North America and Europe, with GMO free and organic oils expected to increase in demand in these markets.
In developing countries, trans-fat free crude palm oil is expected to see consumption growth due to lower prices of palm oil in comparison to soy oil. Several large food companies have already begun transitioning to trans-fat free food processing.
Non-edible applications of vegetable oils are expected to continue to gain momentum, particularly in market for biodiesel, where environmental concerns, stringent emission regulations, high energy prices and government incentives are stimulating interest in biodiesel.
Technology advances in B100 automotive systems may also stimulate higher demand in North America and Europe.
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