Our Price Explained
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What are Platts Used Cooking Oil Asia Price Assessments?
Platts launched the UCO Asia price assessments in August 2022 in response to the growing demand for UCO of Asian origin that originates in or transits from Singapore and the adjacent Malaysian ports of Port Klang and Pasir Gudang on their way to demand centers in Europe or that originates in China.
The UCO Asia price assessment expanded to include coverage for China’s domestic market with the launch of a daily assessment for UCO ex-mill domestic China in 2024. Platts then updated the UCO China domestic assessment to DAP Tianjin basis on July 1, 2025. The Chinese domestic UCO market grew in significance in line with its biofuel and renewable fuel markets. This led to higher demand for domestic UCO and the setting up of an active spot market.
Platts publishes five daily price assessments for Asia UCO:
- UCO FOB Straits
- UCO FOB North Asia
- UCO DAP Tianjin port, North China
- UCO DAP Nantong port, East China
- UCO DAP Nansha port, South China
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How we Assess Used Cooking Oil Asia Price
Platts Asia UCO price assessments are based on robust and transparent market data that includes, but is not limited to, firm bids and offers, expressions of interest to trade and confirmed trades reported across the trading day.
Platts gathers price data from a wide segment of the market, including UCO producers, traders, brokers, and consumers.
Straits UCO
The Platts Straits UCO price assessment represents market data, including trades, bids and offers on a FOB Straits basis. Daily market engagement encompasses market participants in the Straits, defined as Pasir Gudang and Singapore terminals.
The Straits UCO price assessment reflects:
- A loading of 20-40 days forward from the date of publication, in USD/mt.
- Quantity specification of 2,500 mt to 5,000 mt, normalized to 2,500 mt.
- Materials with a maximum of 5% FFA, maximum of 2% MIU, maximum 40ppm sulfur, minimum of 50gr iodine per 100gr of used cooking oil and maximum wax content of 300 ppm.
- Cargoes reflecting ISCC-certified and RED-compliant materials.
The Platts Straits UCO assessment is based on the latest information sourced from the market up to the close of the assessment window at 16:30 Singapore time.
North Asia UCO
The Platts North Asia UCO price assessment represents daily market data, including trades, bids and offers reflecting North China basis port FOB Tianjin.
The North Asia UCO price assessment reflects:
- A loading of 20-40 days forward from the date of publication, in USD/mt.
- Quantity specification of 2,500 mt to 10,000 mt, normalized to 2,500 mt.
- Materials a maximum of 7% FFA, a maximum of 2% MIU, maximum 50ppm sulfur and a minimum of 80gr iodine per 100gr of used cooking oil and wax content of maximum 300 ppm.
- Cargoes reflect proof of sustainability certifications in line with RED-such as ISCC.
The Platts North Asia UCO assessment is based on the latest information sourced from the market up to the close of the assessment window at 16:30 Singapore time.
China domestic UCO
The Platts China domestic UCO price assessment represents daily market data, including trades, bids and offers, on a delivered-at-place (DAP) basis in Tianjin port in North China, in Nantong port in East China, in Nansha port in South China. Other ports in the regions will also be reflected in the assessment, but they may be normalized back to the base location.
The China domestic UCO price assessment reflects:
- UCO delivering one to seven days forward from the date of publication.
- Quantity specification of 500 mt to 1,000 mt. Other volumes may be considered but would be normalized back to the assessed volume range.
- Products with an acid value less than or equal to 15 mg KOH/g, maximum of 7% free fatty acids, and a maximum of 2% moisture, impurities, and unsaponifiable (MIU).
The price assessment also reflects products inclusive of 13% value-added tax and where prepayment is made through telegraphic transfer or cash before the transfer of the products, in CNY/mt. Platts also publishes a $/mt equivalence for UCO DAP China, using a 16:30 Penang time assessed value for the CNY/USD exchange rate (AAWFW00).
The price assessments are based on the latest information sourced from the market up to the close of the assessment window at 16:30 Penang time.
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Platts UCO FOB Straits market commentary