Since the energy crisis of the 1970s, the price of crude oil has been escalating and it is forecast to go above USD 100 per barrel in the near future. The fear of an interrupted supply from political uncertainty coupled with the rapid depletion of reserves has sparked widespread interest in alternative energy. Furthermore, the damage caused to the environment from excessive use of fossil fuels has added to the clamour for more sustainable and environmentally friendly alternatives. In response, vegetable oils such as rapeseed, palm, soyabean and coconut oils are already used for manufacturing of several products, including lubricants, surfactants, surface coatings, polymers, pharmaceuticals and cosmetics (Willing, 1999). In fact, many scientists already see the potential in agricultural crops as drivers of the world’s economy in the next few decades. The increasing use of vegetable oils in the manufacture of industrial goods will significantly lessen global dependence on petroleum products. Vegetable oils have other advantages over petroleum – they are renewable, easily biodegraded, and their processing does not emit a large amount CO2, which is a greenhouse gas, whereas petroleum products contribute to increase in net CO2 emissions, are poorly biodegradable and their supply is depleting (Marvey, 2002). R&D changes in national policies towards environmentalism and the increasing liberalization of global trade are making agricultural crops fast become producers of non-food feedstocks compared to before.