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China starts trading of peanut futures

2021-02-02 09:22

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ZHENGZHOU, Feb. 1 (Xinhua) -- The first batch of peanut futures started trading on Monday on the Zhengzhou Commodity Exchange (ZCE) in central China's Henan Province.

China is the world's largest peanut producer and consumer. As a core cash crop and oil crop, the peanut is an important source of vegetable oil, fat and protein for Chinese residents and an important crop for farmers to stabilize income and shake off poverty.

Trading of the peanut futures, with listed rapeseed oil futures, can help improve China's fats and oils market system and ensure the safety of the sector.

In recent years, the ZCE has started trading futures of apples and red dates and options of white sugar, cotton and rapeseed meal to actively give play to the function of the futures market in poverty alleviation and rural vitalization, said Xiong Jun, chairman of the ZCE board.

The ZCE will make full use of its rich experience in agricultural futures management to help market entities understand, become familiar with and make efficient use of peanut futures.

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