Futures in palm for Asian commodities exchange

04 October 2006 04:01  [Source: ICIS news]

SINGAPORE (ICIS news)--The Joint Asian Derivatives Exchange (Jade), a division of Singapore Exchange (SGX) Derivatives Trading, will be launching crude palm oil futures before the year ends, it said late on Tuesday. 

Jade, which is also a joint venture between SGX and the Chicago Board of Trade (CBOT), made the announcement following the trading debut of its first product, a rubber futures contract, on 25 September.

Demand for palm oil has risen in recent months as it can be processed to produce biodiesel, a cheaper alternative to fuels derived from crude oil.

Meanwhile, the all-electronic exchange also said that it is looking to launch other commodities such as agricultural products, metals and energy in the future.

By: Jeanne Lim
+65 6780 4359

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