Palm oil trading options launched in China, open to overseas investors

 China Friday began palm trading options at the Dalian Commodity Exchange (DCE) and allowed overseas investors to participate.

According to DCE, the trading marks another step in the ’s financial opening-up push.

The move made palm options the first yuan-denominated listed in China open to overseas investors.

According to DCE, China is a major importer and consumer of palm in the world, with its and consumption volumes accounting for 15 per cent and 10 per cent of the world’s total, respectively.

DCE said with launching palm oil options and including overseas investors, the could provide risk management tools for market entities and contribute to the coordination of international supply and industrial chains.

It said this would ensure the quality development of its futures market.

According to an announcement made in May by the ’s securities regulator, China also launch crude oil options trade the Shanghai International Energy Exchange June 21.

The total turnover of China’s futures market rose to 50.56 per cent in from the previous year to 437.53 trillion yuan (about 67.9 trillion U.S. dollars), reaching a historic high. (Xinhua/NAN)