I have been reading the labels for about a year now and do not buy items with palm oil. Of course I also do not eat a lot of prepackaged food or junk food, so it is not that hard. If we can get the sustainable palm oil thing going, as they seem to be trying (like KarooCheetah mentioned), that is of course good. We have done it now with seafood and lumber (FSC certified), so I see no reason it could not work here. But it is really not that hard to go without it.
Here in the U.S. all products are marked with the type of vegetable oil (soy, corn, palm), so I assume that is a requirement. Sounds like Australia does not require that specific labelling yet. Often you do not have to give up an entire type of product, but just a brand. With crackers, I found that the generic store brand I used to buy has palm oil while the name brand does not.