Brazil's palm oil alternative, "Babassu Oil"
Palm oil is an essential edible oil used in cooking. That is why, it is a highly demanded product in the international market. Currently, the leading palm oil suppliers like Indonesia and Malaysia have restricted their exports of palm oil. This abrupted the supply chain of palm oil in the international market. Amid this palm oil shortage, Brazil's babassu has came out as the more sustainable alternative to palm oil. Brazil has rich reserves of babassu which could serve as an alternative to palm oil. Brazil is currently the 13th biggest exporter of babassu oil. As per Brazil export data reports, around 5.8 million dollars worth of babassu oil was exported during the fiscal year 2021. The top importers of Brazil's babassu oil are the Netherlands, Paraguay, France, United Kingdom and the United States. The Netherlands holds over 75% share of Brazil's total babassu exports. Whereas the latest Brazil customs data reflects that Brazil's babassu oil exports totaled to be $...