China’s UCO exports on a gradual recovery as COVID-19 restrictions ease
EU imports from China fell in January and February amid COVID-19 outbreak
China’s demand for palm oil and other edible oils have started picking up, following the resumption of economic activities, and easing of COVID-19 restrictions. As a result, domestic used cooking oil (UCO) availability has increased, and exports are gradually rising, according to Eastport brokers. UCO collection in China was previously limited as eateries were shut under the lockdown measures, and exports to Europe fell to around 20kt in January and February (see chart). UCO shipments to Europe are likely to continue recovering in the next few months, but the increase could be capped as Europe has yet to resume its full appetite for cargoes.