Platts launches new daily Asian POME price assessments effective Jan 2, 2024

Platts, part of S&P Global Commodity Insights, has launched new daily price assessments for the Asian Palm Oil Mill Effluent (POME) market, effective Jan. 2, 2024.

The launch of the two new POME assessments, which are assessed basis FOB Indonesia and FOB Malaysia, follows a decision note published Nov. 28, 2023:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/112823-platts-to-launch-asia-pome-assessments-jan-2-2024

The two new POME FOB Indonesia and FOB Malaysia assessments reflect product that allows for free fatty acids minimum 50%, maximum 3% moisture content and total fatty matter of minimum 95%, following feedback from the market. The assessments reflect a typical bulk volume of 2,000-5,000 mt. Other volumes and specifications may be considered but would be normalized back to the reference.

It must also adhere to the ISCC certification scheme, in compliance with the EU's Renewable Energy Directive, or RED requirements.

The FOB Indonesia assessment will reflect parcels loading out of Dumai and Belawan. The FOB Malaysia assessment will reflect parcels loading out of Port Klang and Pasir Gudang.

The assessments will reflect parcels loading over a two-month period starting one month forward. The assessment laycan will roll over to the next two calendar months on the first publication day after the 15th.

For example, from July 16 to Aug. 15, the POME assessments would reflect parcels loading over September-October, while from Aug. 16 to Sept. 15, the assessment would reflect parcels loading over October-November.

The assessments would be published in US dollars per metric ton, reflect 6 pm Singapore market close and follow the Singapore publishing schedule.

The new assessments are published in the Platts Biofuelscan and on Platts Connect.

Please send any comments or feedback to MRTS_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com.

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