UCOME (FOB Netherlands)

A monthly cash‑settled future based on Argus’ daily assessment of UCOME (used cooking oil methyl ester) priced FOB in the ARA region and compliant with the EU Renewable Energy Directive (RED). The index is constructed by stitching together successive monthly futures, producing a continuous price curve. UCOME is a biodiesel (methyl ester) derived from used cooking oil and is treated as a sustainable feedstock under the EU RED framework. The contract is used to hedge prices for waste‑based biodiesel and as a benchmark for physical transactions. It references the European ARA hub, settles in USD per metric tonne