On November 2, 2023, the "17th China International Oils and Oilseeds Conference & Agricultural (CIOC) and Livestock Industry (Derivatives) Conference" took place in Dalian, China. With a major theme of "Seeking Progress for Win-win Cooperation”, the Conference was jointly organized by Dalian Commodity Exchange (DCE) and Bursa Malaysia Derivatives Berhad (BMD), with special support from the China Feed Industry Association.
This Conference consists of 1 main forum and 3 sub-forums that focus on oils and oilseeds, feedstuff breeding and deep processing. It covers many key topics, including analysis and outlook for China and global macroeconomics under the new circumstances, China’s food security strategy and its impact on the grain and oil industry, and weather, supply and demand changes and the outlook for global soybean and corn prices. Experts from industry associations, real economy-based enterprises and financial institutions at home and abroad were invited to deliver speeches and have in-depth exchanges. Relevant department heads of DCE briefed the operation of oils, agricultural and livestock varieties, industrial applications and outlook.
During the event, DCE has also signed an agreement with BMD to license the delivery settlement price of DCE’s soybean oil futures. According to the agreement, BMD will develop the “Bursa Malaysia DCE Soybean Oil Futures Contract” based on the delivery settlement price of soybean oil futures of DCE, and the contract will be launched in 2024. The underlying of that contract is the same as that of DCE’s soybean oil futures. When it expires, the contract will be settled in cash based on the delivery settlement price of DCE’s soybean oil futures. This cooperation marks the first time that the Chinese futures market has licensed an Asian exchange to directly use the Chinese settlement price to develop new products. It is also the first time that Malaysian futures market has used foreign commodity futures price as a reference for calculating cash delivery settlement price.
The CIOC, which was jointly initiated by DCE and BMD in 2006, is one of the first industrial conference brands created by DCE. After years of development, the Conference has become one of the most well-known and influential exchange platforms in the field, and has gained the attention and recognition of governments, industries and market participants in China and beyond. While retaining all the topics related to oils and oilseeds, this year’s Conference has added new topics regarding feedstuff breeding and corn deep processing industry, so as to facilitate sharing information, peer communication and win-win cooperation among agricultural industry.
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