The Dalian Commodity Exchange (DCE) picked Oct. 29 the date to begin trading RBD palm oil, and announced delivery locations. This is the third edible oil traded in China after soybean oil and rapeseed oil, and will further enhance China's edible oil trading system.
The first contracts to be listed will be P0801, P0802, P0803, P0804, P0805, P0806, P0807, P0808, P0809, and P0810. Margin requirement is set at 6 percent at the beginning of the offering. Daily movement is set at 4 percent of the settlement price of the previous day, while the first day's limit is set at 8 percent of the base price. Commission is 4 yuan per deal, and 2 yuan for a contract that was closed on the same day as it was bought. The exchange will publish members' trading quantities and interest held.
