Prices out of the Australian and New Zealand markets were mostly sideways this week. Supply remains an issue for both Australia and New Zealand on a combination of typical seasonal production decreases and COVID related labor issues. The MLA reported the Eastern State cattle slaughter, including Tasmania, at 62,610 head last week. Palm oil and tight supplies are supportive of steady to higher prices in the near term. Palm stearin FOB Malaysia is trading US$100/MT higher than levels from four weeks prior.
The EU market was quiet this week with few changes reported. Sources have suggested that animal fat prices could move lower in the short term. UCO prices are higher on strong demand from the renewable sector and potential supply tightness due to COVID related interruptions.
Domestic US prices are higher this…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
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