Tallow prices are flat out of the Australian market this week. The demand from Singapore is present, but buyers are pushing for lower prices. Trading into China has been at a premium, which has helped push values out of the New Zealand market higher. Prices for 4% max ffa BFT are up NZ$10. At an average of NZ$1012.50, the US dollar equivalent is $715/MT. The significant discount to palm stearin adds continued risk to the market for higher prices. Tightening supply also suggests higher prices for both the Australian and New Zealand markets as production is set to grind to a near halt in the coming weeks.
Prices in the local US market are moving higher ahead of the holiday break, with buyers looking to secure coverage into early January. Used cooking oil (UCO) is trading as high as $880/MT delivered to interior users for large volume shipments ( > 800 MT). BFT prices are up $22/MT from last week on strong demand and limited spot supply. Technical tallow prices are up…
11.15.2024
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