Malaysia's sewer oil futures are expected to be listed next month.
Malaysia's gutter oil futures are expected to be listed next month.
Malaysia is expected to launch gutter oil futures contracts in December!
Foreign media reported that the Malaysian exchange $BURSA (1818.MY)$Director Mohamad Sharin revealed to the media at the International Oil and Fat Conference held in Dalian, China.
"Currently waiting for the final stage of approval by the regulatory authority. Therefore, this futures contract will be launched in December or the first quarter of next year depending on the approval progress."
After launching soybean oil futures in March, waste edible oil futures, commonly known as gutter oil, are new products introduced by the Malaysian exchange derivatives department. Sharin stated that the Malaysian exchange, as the world's most liquid crude palm oil futures exchange, is striving to establish itself as a center for gutter oil trading.
Waste oil is the main raw material for producing renewable biofuels, commonly used in the aviation industry. Malaysia discards about 0.54 million tons of waste oil every year without effective treatment, with huge development potential.
As the world's second largest palm oil exporting country, Malaysia exported nearly 0.3 million tons of biodiesel last year, with domestic consumption of about 1.1 million tons.
Sharlin also pointed out that the market is driven by sustainable development initiatives and biofuel demand, leading to growing demand for waste oil.
"Our waste oil futures contracts are specifically designed for the Southeast Asian market, meeting regional industry demands and trends."
Previously, Bloomberg cited insiders reporting that this futures will be cash-settled, with pricing based on the Offshore Price (FOB) published by s&p global commodity insights.
Furthermore, this contract is priced in US dollars, with each Lot contract representing 25 tons.
Source: Nanyang Siang Pau
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