ZHENGZHOU, Jan. 16 (Xinhua) -- Rapeseed dreg options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China's Henan Province Thursday.
"The newly-launched options will form an effective linkage with the existing rapeseed oil and rapeseed dreg futures, which will improve the risk management system of China's oil-bearing crops industry," said Xiong Wei, chief supervisor of the ZCE.
Xiong said the options will be conducive to forming more reasonable prices of rapeseed dreg futures, improving the market-oriented pricing mechanism of rapeseed dreg prices and increasing the authority of prices of the futures.
Rapeseed dreg is a downstream product of rapeseed oil manufacturing and an important source of feed protein in China's aquaculture. China is the world's largest producer of rapeseed dreg, with its consumption amount ranking second among protein feed products.
As the scale of China's aquaculture continues to grow, the demand for feed increases as well. The ZCE launched rapeseed dreg futures in 2012.
Statistics from the ZCE showed that the number of corporate clients increased by 21 percent as of the end of 2019 compared with the previous year. The rapeseed dreg futures have become a main tool for industrial chain enterprises in managing risks.
