Fat profits: Asian traders cash in as Europe thirsts for waste oils

Waste oil collector FatHopes Energy collect used cooking oil from a fast food outlet in Shah Alam. Used cooking oil is traded at prices pegged to crude palm oil, typically trading at a premium due to its greener credentials. - Reuters

KUALA LUMPUR: Once surreptitiously dumped down drains in the dead of night, Asia’s used cooking oil is fast becoming one of the most sought-after commodities in Europe - as a feedstock for biodiesel.

Aggressive green energy targets in the European Union that were bolstered further this year are pushing fuel makers to churn out biodiesel containing recycled cooking oils and fats, phasing out the use of fresh vegetable oils in the process by 2030.