The Malaysian Palm Oil Council (MPOC) commissioned the London based consulting firm Europe Economics to quantify the enormous benefits of palm oil for the world economy.
The new study uses economic modelling to analyse palm oil’s role as the world’s most popular, land-efficient and cost-effective oil, and measure the positive impacts for importing countries.
Europe Economics found that:
• Palm oil imports add $39bn of GDP growth to the global economy
• Palm oil imports are associated with the creation of 2.9 million jobs globally
• EU 28: €6.42BN in GDP; €1.2BN in tax revenues and 93,620 jobs