Prices

Biodiesel in South Korea is sold only to oil marketing companies, fuel blenders and bulk users. No biodiesel (B100) is sold in the retail market.

About 70-80% of biodiesel in this country is produced from imported soybean oil, and 20-30% from domestic used cooking oil (UCO).

On March 1, 2024, UCO-based biodiesel (UCO methyl ester or UCOME) FOB[1] Busan is priced at USD 1,530/tonne. However, soybean oil methyl ester prices for domestic consumption are not available.

[1] Freight on board