About 80% of the palm oil (PO), palm kernel oil (PKO) and their fractions produced globally are used for edible purposes. The unique solid content profile of PO, and its excellent oxidative stability, high nutritional value (free of trans fatty acids and cholesterols, and rich in micronutrients), and competitive price makes PO as one of the most utilised oils by food manufacturers. Being naturally semi-solid and stabilises in β’ polymorphic form which is required for good creaming and baking performances, PO is an excellent choice for the manufacture of cooking and baking fats such as margarine, shortenings and vanaspati. PKO which is derived from the flesh of the oil palm fruits’ kernel is high in lauric acid and has a sharp melting, a character suitable for use in confectionery fats. Fractionation of PO into palm stearin (POs) and palm olein (POo), and PKO into palm kernel stearin (PKOs) and palm kernel olein (PKOo) further enhances the usage of PO and PKO in foods. PO and POo, due to their high content of oleic acid and natural antioxidant (vitamin E) have excellent oxidative stability, hence, are a superior cooking and frying oil. POs which is available in a wide range of saturation level serves as a good hardstock for trans-free solid fat product formulations. Blending of POs with PKO or PKOo and liquid oils such as super POo, sunflower or soyabean oil produces solid fat products such as bakery margarine/shortening, table margarine/spreads, pastry/laminating fats of excellent functional, textural and storage properties. Interesterification further enhances the usage of palm products especially the hard POs. The hard POs can be interesterified with PKO or PKOo to produce hardstock that can be blended with liquid oils to get stable texturised solid fats of excellent consistency and low saturates content. PKOs and palm mid fraction are widely used as confectionery fats. PO, PKO and their products are also used in the manufacture of dairy, meat and coconut milk product analogs. Apart from its main usage as frying/cooking oil, POo can be used as salad oil. In their powdered form, PO, PKO and their fractions can be used in multiple application in convenience food preparation. Development of functional food or nutraceutical products from palm micronutrients such as tocotrienol-rich fraction, carotene, squalene and co-enzyme Q10 is also an in-thing. Utilisation of the high technology processes would further enhance the nutrition and health benefits, and applications of PO and its micronutrients in the food industry.