Palm Oil is a saturated fat that is present in lots of cheap supermarket processed foods. More often than not where a label says 'vegetable oil' as an ingredient, without indicating what kind of vegetable oil, you are consuming palm oil. Not only is it damaging to your health, causing increased rates of heart disease (by clogging your arteries), it is also extremely damaging to the environment as multinational agribusiness destroys prestine rainforests in the tropics to monocultivate palm oil trees. This leads to the destruction of wildlife, biodiversity and an increase in greenhouse gases.

Chocolate bars, biscuits, ice cream, margarine, peanut butter, coffee whitener, canned cream soups, sauces, baked goods, trail mix and other snack foods, and microwaveable convenience foods may all contain palm oil. Palm oil also has industrial and chemical uses—for instance, as a mineral oil substitute for producing lubricants, detergents, soaps, and cosmetics including lipstick, makeup remover, body lotion, and sun cream. READ THE LABELS.

By 2012, palm oil is forecast to be the world’s most produced, consumed, and internationally traded edible oil. Global production, consumption, and trade in palm oil have
soared since the 1970s.

Here is a report on the harmful effects of global palm oil production entitled 'Cruel Oil'.