Hmmm, I don't know about palm seed oil, I doubt they get that from those palms ... more likely another species.
Over here we call them cocos palms, over there you call them queen palms, but overall we'd like to call them dead palms.
There's many species of palms ... just like trees. The key to good palms are that they're self cleaning (shedding), small fruiting, slow growing so the canopy stays close to the ground for shade.
There's a species I have never had to clean and come to think of it I couldn't even tell you what the berries looked like or where they grew from ... it's the majestic palm.
http://heartgarden.com.au/description.asp?id=198
I guess that pod weighs around 80lb, whilst it's a tall one they can get a lot fatter.