Malaysia launches used cooking oil price portal
The Malaysian Palm Oil Board has launched a free online platform to provide reference prices for used cooking oil in Malaysia. The initiative, supported by the Ministry of Plantation and Commodities, aims to improve price transparency, strengthen the palm oil supply chain, and support the country’s circular economy efforts.
The Malaysian Palm Oil Board has announced the launch of a new online platform providing reference prices for used cooking oil in the domestic market. The portal is free to access for all participants and aims to improve transparency and simplify trade in this raw material.
The initiative was implemented with the support of the Ministry of Plantation and Commodities as part of broader efforts to enhance market efficiency. The platform is expected to support better price formation, reduce uncertainty, and strengthen the overall supply chain within the palm oil sector.
Director General Ahmad Parveez Ghulam Kadir stated that the introduction of a price benchmark will help build a more transparent and accessible market for used cooking oil. He added that the initiative aligns with the government’s policy of developing a circular economy, where such materials are treated as valuable resources.
Global demand for used cooking oil is rising as it is increasingly used in the production of alternative fuels and various industrial products. Authorities note that Malaysia has strong potential in this segment due to the widespread use of palm oil in households and the food service sector.
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Source : Ukr Agro Consult
