KUALA LUMPUR, Oct 11 — Bursa Malaysia has announced its intention to launch a new futures contract for used cooking oil, a vital component in the production of renewable biofuels. The stock exchange is currently soliciting feedback from industry stakeholders as part of the consultation process.
In a statement to Reuters, Bursa Malaysia confirmed that the proposal is still in the consultation phase and will require regulatory approval before moving forward. While the exchange did not disclose specific details about the contract, Bloomberg reported on Thursday that specifications have already been shared with industry participants.
As the world’s second-largest producer of palm oil, Malaysia exported nearly 300,000 metric tons of biodiesel last year, with domestic consumption reaching approximately 1.1 million tons.
