UCO market could be in deficit by H2 2023 due to drought and HVO demand

March 22, 2023 |

In Germany, Bloomberg reports that increasing demand for used cooking oil for biofuels together with ongoing drought in key oilseed countries such as Argentina have led Oil World to predict that the global UCO market will be in deficit by the second half of the year. Lack of UCO availability is likely to increase palm oil demand despite its sustainability challenges and trade barriers in Europe, but that growth is limited due to plateauing production levels resulting from aging trees and slow replanting.

Category: Fuels

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