Oil palm historically is endemic to the humid tropical regions of West Africa and occurs as semiwild groves close to settlements. Crude palm oil (CPO) and palm kernel oil (PKO) obtained from the mesocarp and kernel of the palm fruit, respectively, and their refined olein and stearin derivatives are traded at the Kuala Lumpur Commodity Exchange and, previously, at Chicago Board of Trade. The success story of the oil palm in terms of its high productivity and profitability has attracted many developing countries in the humid tropics as an instrument for agricultural and economic development. The oil palm can be considered the "miracle crop" of modern times. Secondary and waste products from the palm oil industry are assuming economic importance prompted largely by health and environmental concerns. The success of the oil palm crop to date has been attributed to both breeding and agronomy with the former usually blazing the trial.