There seems to be a slight confusion with palm oil and coconut oil. These products are both fram palm trees but two different species of palm.
Palm oil comes from oil palm Elaeis guineensis which has been planted in gigantic plantations all over Indonesia. These plantations are growing in size every day and virgin forest is cut down as we speak to make room for more oil palms.
The coconut oil come from the coconut palm Cocos nucifera, which is grown widepread in the tropics but does not have as great environmental impact as the oil palm. The future may reveal more problems but at the moment it is not considered a great risk to rainforests (suggestions and comments very welcome if anyone knows more about this).