State Council: Quicken Listing Of Dalian Commodity Exchange Palm Oil Futures

On Sept. 24, the Xinhua News Agency, authorized by the State Council, published the 'State Council Guidelines on Promoting Oilseed Industry Development'. The guidelines called for fast tracking the introduction of palm oil futures trading to complement the present soybeans, soybean oil and rapeseed oil contracts. The guidelines urged to nurture oils and oilseed futures market; to boost farming income and promote the healthy growth of the oilseed industry by using the futures market to find prices and hedge against risks; to assist the production, processing and trading of domestic oils and oilseed firms; to support commodity exchanges' plan to build delivery warehouses in production and logistical regions; to educate companies and farmers on the proper use of futures for hedging.