IRA boosts Chinese UCO exports to the US

In Washington, Reuters reports Chinese import data shows a surge in Chinese exports of used cooking oil to the US since two months after the passage of the Inflation Reduction Act, leading to almost $390 million in UCO exports in the past 12 months. Almost 384,000 metric tons of UCO was imported by the use in 2023 through August, accounting for about 65% of US imports during the period. China produces 11.4 billion liters of UCO annually, making it the world’s largest producer.