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Bursa Malaysia aims to launch used cooking oil futures in Dec

by Yurie Miyazawa
in Leadership
Bursa Malaysia aims to launch used cooking oil futures in Dec
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BURSA Malaysia Derivatives Exchange (BMD) is planning to launch its new used cooking oil futures contract as early as December, the director of the Malaysian bourse said on Wednesday (Nov 13).

“It is already in the final stages. It is awaiting regulatory approvals,” director Mohd Saleem Kader Bakas told Reuters at the sidelines of an oilseed conference in Dalian, China.

The contract may launch in December or in the first quarter of 2025 depending on the approvals, he said.

BMD’s UCO futures would come on top of a soybean oil futures contract that it launched in March.

Mohd Saleem said the bourse, which is known for offering the most liquid crude palm oil futures in the world, is trying to position itself as an edible oil hub.

Used cooking oil is a key ingredient used in making renewable biofuels.

Malaysia, the world’s second-largest producer of palm oil, exported nearly 300,000 tonnes of biodiesel last year, while domestic consumption stood at around 1.1 million tonnes.

“We are starting to see growing demand for used cooking oil as the market is driven by sustainability initiatives and biofuel mandates,” Mohd Saleem said.

“What is unique about our (UCO contract) is that it is targeted for the South East Asian market, making the contact more aligned to the needs and trends of the region’s UCO industry.” REUTERS

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Tags: AimsBursaCookingDecFuturesLaunchMalaysiaOil
Yurie Miyazawa

Yurie Miyazawa

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