Bursa Malaysia Derivatives Exchange is preparing to launch a futures contract for used cooking oil as soon as December, according to theDirector Mohd Saleem Kader Bakas told Reuters on Wednesday at
an oilseed conference in Dalian, China, that the contract is in its final stages,launch is expected either in December or in the first quarter of 2025, depending on approval, reported The Edge Malaysia.Director Mohd Saleem said the bourse, known for offering the most liquid crude palm oil futures globally, is aiming to establish itself as a hub for edible oils.
Used cooking oil is an essential ingredient in producing renewable biofuels. Malaysia, the second-largest palm oil producer globally, exported close to 300,000 tonnes of biodiesel last year, with domestic consumption reaching about 1.1 million tonnes. Director Mohd Saleem explained that the demand for used cooking oil has been rising due to sustainability efforts and biofuel mandates. He added that the unique aspect of their UCO contract is its focus on the Southeast Asian market, aligning with the region’s needs and industry trends.
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