January 11, 2007

China's transactions of soybean oil futures exceed US$128 billion
 

Soybean oil futures on Dalian Commodities Exchange embraced its first birthday anniversary on the third trading day in 2007, with total transaction of soybean oil futures in the past year topping RMB 1.12 trillion (US$143.3 billion), accounting for 5.33 percent of total transaction volume of China's future market.

Soybean oil futures together with soybean and products, constitutes a combination of raw materials and processed products on agricultural products futures market.

According to statistics, the transaction of soybean oil futures reached 20.67 million contracts in 2006, with daily transaction reaching 200,000 contracts at the highest, and the transaction volume reached RMB1.12 trillion.

Compared with soybean and soybean dregs, soybean oil has the features of high value and sharp price fluctuations.