An image makeover for palm oil would be good for us

The ecological impact of this affordable oil is lower and health benefits greater than often portrayed

- LLOYD MATHIAS

Brands are omnipresent in our lives, from our kitchen shelves and closets to the gadgets held in our hands and what's sitting in our garages. Consciously, and even at a subconscious level, we tend to imbue the brands we use with certain qualities, such as trustworthiness, product quality or simply an aura of exclusivity that puts us in an elite club. Branding plays a key role in shaping our perceptions and how we navigate our modern lifestyles.

However, what we perceive may not be the actual truth or the whole truth. We often tend to equate high prices with high quality even if that is not really the case. The price in such cases is often for prestige-related brand associations rather than just product quality. For instance, recently television journalist Palki Sharma highlighted how Dior bags sell at $2,800 while costing only $57 to make. As a prestigious fashion label, Dior commands a premium in the market that is based on the perceived value of ownership. Perceptions play a significant role in many markets.

That is true even for some commodities that have a certain image among consumers and therefore have brand-like characteristics. An interesting example is that of palm oil, which has a massy rather than classy appeal, ironically because of its affordable pricing.