Prices for animal fats were broadly stable in Europe, while prices for used cooking oil (UCO) firmed amid a general bullish sentiment in the global vegetable oils market and higher buying interest in Europe.
Levels for European UCO jumped to €1,040-1,090 ($1,118-1,172) per tonne depending on quality and volume on the delivered to North-West Europe (NWE) basis.
During the week, buying interest was heard in the range of €1,010-1,020 per tonne DDP NWE.
Sellers for Chinese UCO also revised their prices up, with sources reporting offers above $900 per tonne FOB China, while buying interest remained at lower levels, while firmer freight rates were not supportive for the CIF price.
Sources also indicated offers for UCO imported from the Middle East at $1,030-1,050 per tonne CIF Amsterdam, Rotterdam, Antwerp (ARA), but no fresh bids were heard on Thursday November 7.
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