Zhengzhou exchange to bring in rapeseed futures

The Zhengzhou Commodity Exchange plans to introduce rapeseed futures and rapeseed meal futures starting on Friday.

The exchange said the benchmark price of the first rapeseed futures will be 5,000 yuan ($793.9) a metric ton, and for rapeseed meal futures, it will be 2,360 yuan a metric ton. The contract units of rapeseed futures and rapeseed meal futures have both been set at 10 tons. The contracts will help companies hedge against price fluctuations at a time of increasing market risk and imports, the China Securities Regulatory Commission said.