Crooks Are After the Grease From Your French Fries

Business News/Analysis, Feedstocks, Marketing/Market Forces and Sales, Not Agriculture

May 5, 2017

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by Mario Parker and Leslie Patton (Bloomberg) Yellow grease prices jump 230% since 2000 as refiners buy more; Black market growing, and more thefts expected in warm weather — … Stealing old vegetable oil that’s been used to cook chicken nuggets and french fries sounds a little gross. But a black market for the golden gunk is growing as U.S. refiners process record amounts of grease to comply with government mandates for renewable fuels. Last year, 1.4 billion pounds (635,000 metric tons) were turned into biodiesel — or 3.84 million pounds a day.

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Most restaurants hire waste handlers to get rid of oil after a few days of use. But the National Renderers Association, an industry group, says as much as $75 million is illegally siphoned every year, much of it ending up in refineries. Biofuel prices have been shooting up, boosting the incentive for thieves who are getting bolder and craftier. With the arrival of warmer spring weather, licensed collectors are bracing for even more heists.

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For more than a century, the waste product has been processed into ingredients for everything from makeup and paint to pet food and livestock feed, according to the Arlington, Virginia-based National Renderers Association, which represents 51 companies with 205 plants in the U.S. and Canada.

What’s different is more cooking oil is being made into fuel. It’s now the largest use for old grease, at around 30 percent of demand. READ MORE

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