The price of used cooking oil has been volatile over the last 12 months
After BREXIT, there was a rise in price of used cooking oil in the UK
After the BREXIT vote, the price of used cooking oil climbed rapidly to levels last seen four years ago. This was due to a strengthening pound, rising vegetable oil prices, and strong demand from the refineries. This trend carried on until the end of March 2017.
In early April 2017, the price dropped by 20%
Why? We think this is primarily due to market sentiment – used cooking oil was overvalued and then crashed. The factors which triggered the price also led to its fall, including the pound weakening against the dollar, a drop in price of vegetable oil due to a good harvest in South America recently, plus a lower price on crude oil. Read Greenea’s latest report on the state of the waste-based biodiesel market.
Will it affect you and your deal?
Not at this stage, and not if the price stabilises soon. We try to agree sensible deals with caterers so that short-term price movements up or down don’t affect the service or deal which Proper Oils provides – we just absorb the price volatility at our end.
Whatever the price, we aim to collect and recycle your waste cooking oil to a five-star service, so you can concentrate on creating great food for your customers.
To book a used cooking oil collection or find out more about our services, call us on 0208 894 9476 or fill in our form.