Harmonizing A Thriving World Palm Oil İndustry And Economy Through Genuine Collaboration Between Producers-- Malaysia, Indonesia, and West Africa, And Consumers—India and China
Journal Title: GATR Global Journal of Business & Social Science Review - Year 2013, Vol 1, Issue 1
Abstract
Objective This article probes the state of Africa's palm oil industry and economy today. Methodology/Technique Today, Malaysia, Indonesia, and West Africa are the world's major producers of palm oil; and India and China, the world's most densely populated countries, are the major consumers. However, why is it that West Africa that is naturally endowed with palm oil is the one that lags behind others in the global production of palm oil? Should this kind of natural endowment and the presence of the major world producers and the biggest consumers of palm oil not spell colossal success for global palm oil industry and economy? Findings Without an adequate demand for a commodity, supply will be limited, thus resulting in a downward supply curve. On the other hand, if there is a high demand for a commodity like palm oil, then it will be produced in abundance. Novelty Where and why it has fallen short, and what does need to be done via-a-vis the state of Malaysia's and Indonesia's palm oil sector and the presence of emerging economies like China and India against the backdrop of globalization.
Authors and Affiliations
Osayimwense Osa, Kausar Saida
Keywords
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