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Zhengzhou market allowed to trade rapeseed futures
By Richard Fu |
December 21, 2012, Friday
|
Online Edition
Online Edition
CHINA'S securities regulator has given approval to the Zhengzhou Commodity Exchange to trade futures contracts in rapeseed and rapeseed meal.
The China Securities Regulatory Commission said the new contracts will help companies' better hedge against price fluctuations at a time of rising market risks and an imbalance between supply and demand.
China was the world's largest grower of rapeseed, used for making vegetable oil and biodiesel fuel, before 2011. But as farmers switched to more profitable crops, imports are rising from countries like Canada, now the largest producer.
Rapeseed meal, a byproduct from rapeseed processing, is a high-protein animal feed.
The CSRC didn't say when trading of the new contracts will start.
The Zhengzhou exchange already listed rapeseed oil contracts in 2007.
Separately, the Shanghai Futures Exchange said it will release a five-year development plan (2013-2017) next Wednesday to outline details of the bourse's goal of becoming a leading commodities exchange in Asia Pacific.
The China Securities Regulatory Commission said the new contracts will help companies' better hedge against price fluctuations at a time of rising market risks and an imbalance between supply and demand.
China was the world's largest grower of rapeseed, used for making vegetable oil and biodiesel fuel, before 2011. But as farmers switched to more profitable crops, imports are rising from countries like Canada, now the largest producer.
Rapeseed meal, a byproduct from rapeseed processing, is a high-protein animal feed.
The CSRC didn't say when trading of the new contracts will start.
The Zhengzhou exchange already listed rapeseed oil contracts in 2007.
Separately, the Shanghai Futures Exchange said it will release a five-year development plan (2013-2017) next Wednesday to outline details of the bourse's goal of becoming a leading commodities exchange in Asia Pacific.
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