Platts, part of S&P Global Commodity Insights, is pleased to announce that Bursa Malaysia Derivatives Berhad has launched the USD Used Cooking Oil FOB Straits (Platts) Futures Contract (FUCO) on 16 December 2024. This follows a licensing agreement with S&P Global Commodity Insights for Bursa Malaysia to use Platts Used Cooking Oil (UCO) FOB Straits price assessment for the calculation of the FUCO final settlement price. Used Cooking Oil (UCO), often discarded as waste, can be repurposed into #biofuel, a renewable alternative to traditional fuels. Converting this waste product into a valuable resource for use in areas like transportation, has the potential to reduce greenhouse gas emissions in addressing climate change concerns. Sophie Byron, Global Head of Biofuels Pricing, S&P Global Commodity Insights, commented, “We welcome the confidence Bursa Malaysia places in the integrity of Platts price assessments by S&P Global Commodity Insights. Platts UCO and biofuel price benchmarks bring much needed price transparency and efficiency to trading and operations, as recognized by Bursa Malaysia in choosing those benchmarks to enable its members to manage their risks. Not just in Southeast Asia but globally, UCO has become the key feedstock for biodiesel, renewable diesel and sustainable aviation fuel. Platts recognizes the need for clear and robust pricing in these growing markets and is committed to providing a suite of benchmarks which complements its existing refined products benchmarks.”
