Soymeal leads China charge into commodities derivatives
Beijing
SOYMEAL, a chief ingredient in tofu, is set to provide rich nutrition of another kind: China is using the animal feed staple to blaze a trail in commodities derivatives, fuelling its appetite for global investment hub status along the way.
On Friday, Dalian Commodities Exchange, one of four futures centres in China, will roll out a soymeal option, the country's first exchange-traded product of its kind in commodities.
The derivatives are designed to make it easier for the likes of traders, pig farmers and the companies that process soya beans into oil and feed to hedge price swing risks. Worth US$7 billion…
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