Bursa Malaysia seeks feedback on used cooking oil futures contract plan
KUALA LUMPUR, Oct 11 (Reuters) -Malaysia's stock exchange said on Friday it was seeking industry feedback on a plan to launch a new futures contract for used cooking oil, a key ingredient in producing renewable biofuels.
"Bursa Malaysia is looking to offer a new futures contract for used cooking oil, which is currently undergoing industry consultation and is subject to regulatory approval," the bourse said in a statement to Reuters.
The exchange did not provide further details on the proposal, which was first reported by Bloomberg on Thursday.
Specifications for the futures contract have been shared with industry participants, Bloomberg reported, citing sources and a copy of the proposed guidelines it had seen.
Malaysia, the world's second-largest producer of palm oil, exported nearly 300,000 metric tons of biodiesel last year, while domestic consumption stood at around 1.1 million tons.
Reporting by Ashley Tang and Danial Azhar; Editing by Rozanna Latiff and Subhranshu Sahu
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