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 market Commodity market A commodity market is a market that trades in primary economic sector rather than manufactured products. Soft commodities are agricultural products such as wheat, coffee, cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil. Investors access about 50 major commodity markets worldwide with purely financial transactions increasingly outnumbering physical trades in which goods are delivered. Futures contracts are the oldest way of investing in commodities. Futures are secured by physical assets. Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple