Malaysia to introduce official used cooking oil reference price in early 2026

[KUALA LUMPUR] Malaysia will introduce an official reference price for used cooking oil in the first quarter of this year to prevent price manipulation in the sector, its commodities minister said on Tuesday, as it seeks to better regulate the commodity.

Plantation and Commodities Minister Noraini Ahmad told an industry conference that the new benchmark will provide price guidance and allow the fair trading of used cooking oil, as well as protect industry players from fraud.

Malaysia, the world’s second largest palm oil producer, has been boosting efforts to crack down on fraud in the used cooking oil industry.

Noraini also called for the palm oil sector to step up efforts to increase the use of technology and mechanisation, in order to reduce its dependence on manual labour.

Malaysia’s palm oil exports in 2025 were valued at RM112 billion (S$35.5 billion), up from RM109 billion in 2024, Malaysian Palm Oil Board chairman Mohamad Helmy Othman Basha told the conference earlier. REUTERS