The National Heart Foundation of Australia’s View
The Heart Foundation does not recommend using palm oil as it made up of over 50% saturated fat. A position statement from the Heart Foundation’s National Nutrition and Metabolism Advisory Committee says;

“The following recommendations are primarily based on the relationship between dietary fat intake and well-established clinical endpoints for cardiovascular disease (CVD). These include coronary heart disease (CHD) events [non-fatal myocardial infarction (MI)], death from CHD and stroke. These recommendations are based on evidence and current Australian dietary intakes."

Recommendations - Saturated fatty acids
There is good evidence that:

• an increase in the consumption of saturated fatty acids is associated with an increase in risk of CHD
  
  
• replacing a proportion of saturated fatty acids with n-6 polyunsaturated fatty acids to achieve a ratio of polyunsaturated to saturated fatty acids of greater than one will reduce the risk of CHD
  
  
• compared to carbohydrate, polyunsaturated and mono-unsaturated fatty acids, an increase in the consumption of saturated fatty acids results in an increase in the concentration of total and low density lipoprotein cholesterol (LDL-C)
  
  
• replacing saturated fatty acids with carbohydrate, polyunsaturated or monounsaturated fatty acids lowers total cholesterol and LDL-C, with a slightly greater effect with polyunsaturated fatty acids.