KUALA LUMPUR: Industry players and the public are encouraged to participate actively in the trading of used cooking oil (UCO) as part of efforts to support the nation’s circular economy.
The call was made by the Malaysian Palm Oil Board (MPOB), which assured transaction transparency in the buying and selling of UCO through a used cooking oil price reference portal for the domestic market, accessible free of charge.
The initiative is part of the government’s continuous efforts through the Plantation and Commodities Ministry to enhance market transparency and reduce uncertainty within the oil palm industry value chain here.
MPOB director-general Datuk Dr Ahmad Parveez Ghulam Kadir said the display of the UCO reference price provides a clearer and reliable price benchmark.
He added that the supply of UCO is increasingly gaining global attention as a crucial raw material resource in the production of sustainable energy products such as biodiesels, sustainable aviation fuel (SAF) and oleochemical products.
He added that global demand for SAF is expected to increase significantly, driven by the international aviation industry’s commitment to achieving net-zero carbon emissions by 2050.
