Olu-Tony Groceries fresh red oil., Producer of only first extract oil, for all purposes, we have ranging from 4, 10,& 25 ltrs, Make your order now … It is derived from the fruit of the oil palm tree (Elaeis guineensis) and is referred to as “red palm oil” because of its rich dark red color in its unprocessed natural state. Palm kernel oil is derived from the seed or the kernel.