Elaeis Elaeis Elaeis () is a genus of palms containing two species, called oil palms. They are used in commercial agriculture in the production of palm oil. The African oil palm "Elaeis guineensis" (the species name "guineensis" referring to its country of origin) is the principal source of palm oil. It is native to west and southwest Africa, occurring between Angola and Gambia. The American oil palm "Elaeis oleifera" () is native to tropical Central and South America, and is used locally for oil production. Mature palms are single-stemmed, and can grow well over tall. The leaves are pinnate, and reach
Commodity currency Commodity currency A commodity currency is a name given to some currencies that co-move with the world prices of primary commodity products, due to these countries' heavy dependency on the export of certain raw materials for income. Commodity currencies are most popular in developing countries (eg. Burundi, Tanzania, Papua New Guinea). However developed countries like Canada and Australia can also have this type of currency. For example, the Canadian Dollar grows stronger, the higher the price of soybeans and oil because these are Canada's two major commodities. In the foreign exchange market, commodity currencies generally refer to the Australian dollar,