SCARCE SUPPLY
"There are a limited number of producers for SAF compared to the demand," said Kohei Yoshikawa, manager of ANA's fuel procurement department."As we looked into it, we began to realise that it's not easy to get." Global SAF production this year of some 40 million litres accounts for only 0.015 per cent of jet fuel market, according to the International Air Transport Association . Yet, the group views SAFs as a key solution to curb the industry's emissions growth. These non-fossil derived fuels must meet sustainability criteria, including reduced carbon emissions, limits on fresh water consumption, no deforestation and no competition with food production, according to Iata.
SAF has traded for several times the price of regular jet fuel in regions outside Asia in recent months. In North-west Europe, the premium averaged 4.7 times the price of traditional jet fuel from mid-August, when S&P Global Platts started pricing SAF, to mid-October. On the US West Coast, the premium was 3.5 times from mid-September to mid-October. Platts has yet to launch SAF prices in Asia.
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