China. 2024 UCO exports hit all-time high on demand from US, EU, Singapore

Published 2025년 2월 5일

Tridge summary

In 2024, China's used cooking oil (UCO) exports hit a record high of 2.951 million metric tons, marking a 43.49% increase from the previous year, as reported by S&P Global Market Intelligence’s Global Trade Atlas. The US emerged as the top importer of Chinese UCO, with a 51.94% rise from 2023, followed by the EU, with the Netherlands, Spain, and Belgium as the main recipients, due to the EU's antidumping duties on Chinese biodiesel and the fuel mandate seeking sustainable aviation fuel feedstock. Singapore also increased its UCO imports from China. Despite global UCO prices reaching a two-year high, demand remains strong, supported by China's strategy to meet the EU's fuel mandate and plan to introduce an export quota for B24 biodiesel-blended marine fuel in 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China’s used cooking oil exports reached a record high of 2.951 million mt in 2024, up 43.49% from 2023, amid a rise in imports from the US, the EU and Singapore, the latest data from S&P Global Market Intelligence’s Global Trade Atlas showed. The US was the top importer of China’s UCO in 2024 at 1.267 million mt, up by 51.94% from 2023 and accounting for 42.93% of the total China UCO exports, as California’s Low Carbon Fuel Standard started giving tax credits for renewable biodiesel made from waste products. However, there was some uncertainty around China’s upcoming UCO exports to the US as the US Treasury Department’s guidance for the 45Z clean fuel tax credit made imported UCO no longer eligible for tax benefits. The EU was the second-largest buyer of Chinese UCO at 737,000 mt, up 39.39% from 2023, with the Netherlands, Spain and Belgium as the top destinations, accounting for more than 90% of the total EU volumes. Demand has risen as the EU seeks feedstock UCO after ...

Source: UkrAgroConsult