Agriculture, Biofuel
February 16, 2026
Platts updates payment terms for China domestic UCO assessments, effective Feb. 16
Platts, part of S&P Global Energy, has updated the payment terms for its China domestic Used Cooking Oil (UCO) assessments, effective Feb. 16, 2026.
The changes reflect prevailing market practice, following observations that biodiesel plants in these regions typically adhere to a credit period of up to seven days after transfer of the UCO, via telegraphic transfer or cash.
Platts publishes daily UCO China domestic assessments on a Delivered at Place (DAP) basis in the North, East and South China regions. The payment specifications of the following assessments have been updated to reflect the new standard of up to seven days after transfer of the products.
The assessments affected and the updated payments specifications are listed in the table below:
| Assessment | Daily Assessment Symbol | Weekly Average Symbol | Monthly Average Symbol | Previous Payment Term | New Updated Payment Term |
| UCO DAP Tianjin Port North China CNY/mt | BFANC00 | BFANC04 | BFANC03 | Payment terms are up to 14 days after the transfer of products | Payment terms are up to seven days after the transfer of products |
| UCO DAP Nansha Port South China CNY/mt | BFESC00 | BFESC04 | BFESC03 | Prepayment before the transfer of products | Payment term s are up to seven days after the transfer of products |
| UCO DAP Nantong Port East China CNY/mt | BFCEC00 | BFCEC04 | BFCEC03 | Prepayment before the transfer of products | Payment term s are up to seven days after the transfer of products |
The payment specifications of the $/mt conversions of the above symbols have also been updated.
All other specifications of the China domestic UCO assessments remain unchanged.
Platts launched the UCO South and East China domestic assessments July 1, 2025. Platts launched the North China domestic UCO daily assessments Oct. 1, 2024, and updated the incoterms and quality specifications July 1, 2025.
The changes were first proposed in a subscriber note published Jan. 2: Platts proposes to update UCO China domestic assessments specifications, effective Feb. 16
The decision was communicated in a subscriber note published Jan. 16: Platts to update UCO China domestic assessments specifications, effective Feb. 16
The assessments are published on Platts Biofuels Alert pages PBF 2310, 2311 and 2312, in the daily Platts Biofuelscan report, Weekly Biomass-Based Diesel Report, and in the Platts price database.
The full Global Biofuels methodology & specifications guide is available at: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/agriculture/biofuels-methodology
Platts invites feedback, comments and questions to platts_biofuels@spglobal.com and pricegroup@spglobal.com.
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