Bursa Malaysia has confirmed plans to introduce a new futures contract for used cooking oil, pending negotiations with the industry and regulatory approval.
"A spokesperson from Bursa Malaysia stated, 'Bursa Malaysia intends to offer a new futures contract for used cooking oil, which is currently undergoing industry negotiations and is subject to regulatory approval,'" according to Bernama.
This announcement follows reports from foreign news sources suggesting that Bursa Malaysia is considering the launch of a futures contract for used cooking oil, driven by the rising demand for biofuel feedstock.
Additionally, the news report mentioned that Bursa Malaysia has already proposed specifications for the new contract in documents shared with industry participants, citing sources familiar with the situation.
