Dynamics of Supply and Demand for Oils and Fats

In oils and fats we can discern two main tra­ditions developing in the Western world. The first was based on animal husbandry, producing butter, beef fat and lard. Climatic conditions in the northern half of Europe did not enable oilseed crops to be grown, with the exception of rapeseed. However, until the 19th century the technology of refining rapeseed oil ( or colza oil) to an acceptable edible quality was lacking and its use was as a lamp oil.

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Quality assurance

Quality assurance may be defined as ensuring that the customer receives a product that is suit­able for his use. Of course he also wants to pur­chase it at a reasonable price. Therefore commer­cial transactions are based on certain specifications and the concept of Good Merchantable Quality (GMQ). To complement the general standards of an industry, […]