Platts clarifies specifications, open-origin basis of FOB Straits UCO and UCOME assessments

Platts, part of S&P Global Commodity Insights, would like to clarify that Russia is not included as part of the open origin basis of its FOB Straits UCO and UCOME assessments.

According to import data, there have been no volumes originating from Russia entering Singapore in the past years. Therefore Platts FOB Straits assessments do not reflect Russian-origin material.

Platts would also like to reiterate that, as per its assessment methodology, commodities supplied from countries or entities that are subject to trading embargoes and sanctions recognized under international law should not be delivered against transactions concluded during the Platts Market on Close assessment process, regardless of whether the assessment reflects restricted-origin or open-origin material.

Platts invites further feedback on typical market practice for demonstrating the origin of UCOME and its feedstock, UCO. Please send all feedback, questions, or comments to asia_ags@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.