There is not enough information to render much of an opinion. The compatibility of the reaction mixture with 304 stainless steel will depend on what other constituents (besides palm oil) are present and at what concentrations. Palm oil itself is compatible with 304 stainless steel at 70  degrees C. The way your question is phrased sounds like you might be asking about specifying a corrosion allowance for 304 stainless steel. Austenitic stainless steels tend to corrode by localized corrosion (e.g, pitting, crevice corrosion, SCC, etc.) so specifying a corrosion allowance is not usually beneficial. Corrosion allowances are useful when uniform corrosion is a concern.