Higher Prices Expected on Demand Outpacing Supply

Higher Prices Expected on Demand Outpacing Supply

Tallow prices out of New Zealand traded higher this week, up as much as NZ$92.50/MT from the last traded level. Tight, regional supplies and stronger demand from the renewable sector have contributed to higher prices. Australian values are unchanged, but the market remains firm on limited production. The MLA estimated last week’s slaughter at 90,631 head is on par with recent levels and well below the 2018/2019 average. The tight supplies and higher New Zealand values add risk for higher prices as the market moves into August.

Used cooking oil (UCO) trading into the EU is lower as buyers continue to push for lower prices basis lower UCOME and FAME values. Trading into ARA is in the lower $1200’s per tonne, down nearly $200/MT from just two months prior. High freight rates continue to limit the flow of UCO from Asia into the EU. Sources indicate that higher prices in the US have started to shift the flow of UCO out of Asia and into the US. Delivered values for UCO are as high…

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