DCE begins soybean oil futures trading

By | March 01, 2006
In Chinese tradition, Fan Fuchun, vice chairman of the China Securities Regulatory Commission, struck a gong to announce the inauguration of soybean oil futures trading at the Dalian Commodity Exchange (DCE) in January.

He was accompanied by Huai Zhongmin, deputy secretary of the Communist Party of China Dalian municipal committee; Wang Chengmin, vice-mayor of the Dalian municipal government; and Bai Meiqing, chairman of the Chinese Academy of Geological Sciences. The introduction of soybean oil futures would complete the product line on soybean-series futures, according to Bai Meiqing. In particular, it would provide the soybean-related firms with hedging tools on risk management.

"DCE will continue to strengthen the supervision, provide the best services for all the investors and institutions in China, and help Chinese soy-oil producers to reduce the risks of drastic price fluctuation of refined oil and soybeans on the highly competitive soybean oil market," DCE President Zhu Yuchen said.
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