There is a lot of it about, but there is also a lot of processed food that doesn't contain it (or contains such a small amount it's not worth worrying about).
If a food just says vegetable oil, look at the amount of saturated fat. If a large amount of the fat is saturated fat then it has a high proportion of palm oil in it. Palm oil is about 50% saturated fat, palm kernel oil is close to 80% saturated fat, other common oils are much lower in saturated fat. Rapeseed (canola oil) is around 6% saturated fat. I think in the UK only palm and rapeseed oil (or a mixture of the two) are generally labelled as vegetable oil.
I try and buy stuff that labels the oil, or else I look at the fat profile. If it is more than about 10% saturated fat to total fat ration then I don't buy it. You have to have a bit of leeway because some other ingredients (nuts, seeds, coconut) may add a little saturated fat.
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