Interestingly to note that Q1 2024 exports of Used Cooking Oil from Asia reached nearly 700K Metric Tons in Q1 with US taking an increasingly higher share. However, since the Singapore plant production is an EPA approved plant generating RINs with most of its production headed towards the west coast, we can categorize it as a US plant ... so we can conclude US is now using 71% of the UCO exports from Asia. Clearly Europe is getting crowded out but we also can see that UCOME production in Asia is also now importing UCO. For perspective UCO flows now are equivalent to more than 1/2 of Soyoil exports forecast in Argentina as making use of vegetable oil is an increasingly less favorable option because of the high carbon intensity. Recycling refined vegetable oil especially from countries in Asia that are net importers of all types of vegetable oils makes a lot of sense. Obviously the largest user of vegetable oil is China and correspondingly exports most of it as India has banned exports of UCO in order to protect its own biofuels industry.
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