At the same time abandoning palm oil is both extremely impractical and causes numerous other sustainability problems. Palm oil has incredibly high yields per hectare when compared with other oil crops, which is important to consider when discussing it's 'sustainability'. It's yeilds are something like 3-5 tons per hectare per year, while soy/sunflower/others are less than 1 ton/ha/yr. Not to mention the human impact, it's a cash crop for many small holders who's livelihood depends on it. For these reasons, even very vocal environmental organizations like GreenPeace stop short of calling for boycotts... the focus needs to be on producing it sustainably.
Consumers need to demand that the palm oil in their products is sustainably produced e.g. via the Round Table on Sustainable Palm Oil (RSPO) or otherwise. Unfortunately even knowing if palm oil is in your product or not has been difficult, and even brands who use sustainably produced palm oil are hesitant to draw attention to the the oil in their products.
I've worked closely with this program on technical projects, and while it certainly has a number of flaws, the accountably is much higher than for conventional palm oil. I'm really hopeful that research into other methods (Algae oil production) will be more economical/efficient/sustainable, but at the moment it's still theoretical. :(