Palm oil is obtained from the fruit of the oil palm tree. Palm oil is used for preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning.Palm oil is used for weight loss and increasing the body’s metabolism. As food, palm oil is used for frying. For preventing vitamin A deficiency: about 3 tablespoons (9 grams) per day of palm oil for adults and children over age 5. 2  About 4 tablespoons (12 grams) per day for pregnant women. 3  For children less than 5 years old, 2 tablespoons (6 grams) per day.