Trading was quiet to close out the week with no changes reported. Action in the soybean oil markets had buyers on the sidelines today and offers are no doubt going to be higher to start next week.
January fat export data were released today with a total of 98,661 MT exported in January. Yellow grease exports totaled 54,016 MT, up 63 percent compared to January 2020 and down 41 percent from December. Singapore was the largest buyer at 35,363 MT in January, or 65 percent of total yellow grease (including used cooking oil) exports. The UK followed at 10,089 MT and Mexico imported 6,353 MT.
Inedible tallow exports were reported at 19,330 MT for January, down 19 percent from last year and 31 percent from December. Mexico was the largest buyer at 10,405 MT followed by Canada at 3,536 MT. Brazil was the thirst largest imported at 3,000 MT for the month.
Table 1.
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