In this episode, Anna Prokhorova (Senior reporter - waste feedstocks, Biofuels, Argus Media) is joined by Arezki Djelouadji (partner, Greenea) to explore the reasons behind the disconnect — from UCO’s structural pricing link to Ucome, to the role of blend walls, growing demand from HVO and SAF, and the rise of feedstock flexibility.They also look at shifting global trade flows and what changing US policy means for European markets, and why short-term signals differ from the longer-term outlook.