Will palm oil consumption raise my blood cholesterol level?

No. A re-examination of the data of some early published western studies which included palm oil, showed that when palm oil replaced the habitual fats of Western diets, blood cholesterol levels in the subjects did not go up but instead were reduced from 7% to 38%!

Subsequent research conducted in the United States, Europe, Australia and Asia have firmly established that palm oil tends to be "neutral", that is does not raise nor lower blood cholesterol levels. This is because palm oil is trans-free, has only traces of the cholesterol-raising lauric plus myrisitc acids, as well as possesses a unique fat molecule configuration involving its major saturated fatty acid, palmitic acid, which renders the oil non-cholesterol raising.

Besides, palm oil has a high content of special vitamin E species called "tocotrienols" which have a statin-like cholesterol lowering action.