Platts will update incoterm and specification for North China UCO domestic assessments

Platts, part of S&P Global Commodity Insights, will update the incoterms and specifications for its North China domestic Used Cooking Oil (UCO) assessments, effective July 1, 2025.

The new changes will better reflect the contract terms and specifications of UCO currently traded in the domestic China spot market.

From July 1, the North China UCO domestic assessment will reflect transactions on a delivered at place (DAP) basis Tianjin port, where the cost of delivery is borne by the seller. The assessment will reflect UCO delivered one to seven days forward from the date of publication. Other ports in North China may be normalized back to the basis location.

The assessment currently reflects material on an ex-works basis Tianjin and Hebei provinces in North China.

The assessments and their associated symbol nomenclature will be updated to reflect the new incoterm and basis accordingly: UCO DAP Tianjin port, North China.

In addition, Platts will update the assessment specifications to reflect an Acid Value less than or equal to 15 mg KOH/g, maximum of 7% free fatty acids (FFA), and a maximum of 2% moisture, impurities, and unsaponifiable (MIU).

The other specifications will remain unchanged.

Platts continuously reviews its assessment methodology and seeks to reflect the most up-to-date specifications observed for its market coverage.

The assessments affected and the proposed updates to incoterms and specifications are listed in the table below:

Platts launched the North China domestic UCO daily assessments Oct. 1, 2024.

The assessments are published on Platts Biofuels Alert pages PBF 2310, 2311 and 2312, in the daily Platts Biofuelscan report and Weekly Biomass-Based Diesel Report.

The full Global Biofuels methodology & specifications guide can be found at https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/agriculture/biofuels-methodology.

Platts invites feedback, comments and questions on this proposal to MRTS_biofuelsandfeedstocks@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 upon request.