China's increased imports of used cooking oil for biofuel could be fraudulent, potentially hurting US

From Yahoo Finance: 2024-05-07 18:48:10

China is ramping up US imports of used cooking oil for biofuel, with over 50% coming from China. Concerns grow over fraudulent supplies, potentially hurting US farmers and renewable energy goals. Used cooking oil benefits from Biden’s green incentives but risks backlash for American farmers. Used cooking oil imports totaled 1.4 million metric tons in 2023, affecting US soy market. China may be mixing UCO with palm oil, a major deforestation driver. EPA is monitoring UCO imports, with Renewable Fuel Standard regulations in place. Industry groups are raising alarm over surge in Chinese UCO imports, fearing unfair competition for US feedstocks.



Read more at Yahoo Finance: Suspicious China Frying Oil Is Hurting US Biofuels Business