May 16, 2007

China to introduce rapeseed oil futures

China's Zhengzhou Commodity Exchange (ZCE) has finished final procedures before introducing rapeseed oil futures to the market, sources with the exchange said.

The latest versions of related contracts and trading rules have been handed out to traders for feedback. However, it is still unclear whether the new futures product would be introduced by end-May.

China once had more than 10 futures products, which was cut to six in 2003.

Regulatory authorities resumed approving new futures product in 2004, with futures on cotton, corn and fuel oil added in 2004 and sugar and soyoil futures introduced in 2006.

China Securities Regulatory Commission, supervisor of the industry, tend to further enrich the country's futures products, under the guidelines of resuming those once-traded futures products.