(New York / Singapore Road Power Power) The United States imported a large amount of waste oil from China last year as raw materials for biofuels such as renewable diesel.Although the uncertainty of regulatory supervision has caused market participants to doubt its long -term prospects, it is expected that this trade activity will be innovative in the next few months.
Reuters reported on Wednesday (August 28) that due to the US Federation and the state government launched incentive measures to the biofuel industry to support the transportation industry's decarburization, the US demand for kitchen waste oil has increased.
The United States is in full swing to build renewable diesel plants. The average daily real estate was 141,000 barrels in 2021. By 2023, it has increased to an average of 28,200 barrels per day.This rapid growth has changed the United States from the net exporter of kitchen waste oil to a net importer since 2022.
Data show that the import of waste oil in the United States in 2023 exceeded 1.36 million tons, only about 400,000 tons in 2022.
Denglap, founder of DNS Enterprises, a renewable energy consulting company, pointed out that the demand for kitchen -kitchen waste oil in the United States for renewable diesel producers is much higher than that of domestic supply.
Reuters reports that due to the reduction in the demand for major European buyers in Europe in mid -2023, Chinese food and kitchen waste oil exporters need to find a new export market, so it quickly fills the US supply gap.
Customs data show that American refineers purchased kitchen waste oil last year, from China, which accounted for only 0.1%in 2022.In the first half of this year, the United States imported about 1 million tons of kitchen waste oil, about 60 % from China.
Two senior biofuel traders in Singapore said that the EU tariffs may make the kitchen waste oil exported to the United States to further expand in the next few months.
According to Reuters earlier, since August 16 this year, the European Union levied temporary anti -dumping tax on biological diesel from China, with tax rates from 12.8%to 36.4%, which has caused impact on Chinese biological diesel manufacturers.
The shrinking sales of biological diesel is promoting the export of Chinese food and kitchen waste oil. Analysts predict that exports this year will reach a new high.The export volume of Chinese food and kitchen waste oil in the first half of this year reached 1.41 million tons, an increase of more than 60%year -on -year. Among them, the United States, Singapore and the Netherlands were the main export destinations.
However, a Singapore trader told Reuters that after the Presidential election in the United States in November, the trade policy may have changed dramatically, which brings uncertainty to Chinese kitchen waste oil exporters.In recent years, the relationship between the two world's largest economies of China and the United States has become increasingly tense. Since 2017, the two countries have been tit -for -tat and imposed tariffs on products from both sides.
At the same time, the global kitchen waste oil trade may have changed significantly, and Beijing has attracted market attention to the production goals of sustainable aviation fuel.Singapore traders said that due to sustainable aviation fuel use kitchen waste oil as raw materials, it is estimated that China will stop exporting kitchen waste oil in about five years.
