The expected supply of used cooking oil (UCO) worldwide is set to more than double by the year 2030, driven by a surge in production from Asian countries. This increase is largely motivated by policies in the United States and the European Union that favor biofuel production, which utilize UCO due to its lower environmental impact. The U.S., Singapore, and the EU are major buyers, with their demand poised to grow as they continue to support biofuel-friendly regulations.

The United States has a well-developed network for collecting used cooking oil (UCO), but its future growth might be constrained due to already high collection rates per capita. By 2030, it is anticipated that the U.S. will shift from being a net exporter to a net importer of UCO because of rising domestic demands for biofuel production.

The details on this projection were reported by S&P Global Commodity Insights on October 4, 2023 (S&P Global)