(1) as a feedstock for making surfactants in personal cleaners (shampoos, toothpaste, bath gel) like sodium laureth sulfate [1];
(2) as a substitute for partially hydrogenated vegetable oils (incl. trans fats) in food manufacturing; partial hydrogenation of vegetable oils (containing unsaturated fatty acids) will alter their melting point and texture to produce solid-at-room-temp shortening; and
(3) as a cooking oil. Lately, it has also seen some use in biodiesel.
To replace palm oil in surfactants, you can use coconut oil (which is even more intensive to produce), or by synthesizing the precursors from mined hydrocarbons (typically oil or natural gas) using a variety of clever chemical reactions; or lard from animals, which requires raising animals.
To replace palm oil in food manufacturing, you can use coconut oil, lard, or you can partially hydrogenate unsaturated fatty acids derived from many vegetable oils; by doing the latter you're converting some of your product into trans fat.
To replace palm oil in cooking, choose from a variety of other oils and fats.
Unfortunately, almost all of the European and US consumption is for manufacturing, while elsewhere it's used for cooking as well. While European and US suppliers do own palm oil plantations, they also source from other producers. This complicates the market: boycotts against big manufacturers of soap or food will drive the price of palm oil lower, increasing the likelihood that it will be offloaded to a different set of countries as cheap cooking oil.
