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Dec

China’s recasting of UCO trade: Minimal impact on chemical shipping

China eliminated the 13% export tax rebate on the popular feedstock for biofuels-used cooking oil (UCO) on 1 December 2024, aiming to increase domestic supply as the country intends to implement a 2% Sustainable Aviation Fuel (SAF) blend requirement in 2025. This move will curb UCO exports and raise the UCO price globally, increasing the …