Meanwhile, the St. Petersburg Exchange is preparing to launch a sunflower oil supply futures contract.
The volume of trading in oilseed crops on the commodity auctions of the National Commodity Exchange (NCE) for the first nine months of this year amounted to 387.7 thousand tons, which is almost twice as much as in the same period last year, NCE head Kirill Popov said in an interview with Interfax. In monetary terms, the trading volume amounted to almost 16 billion rubles.
As Popov stated, the results for the first nine months showed that the exchange mechanisms have become a full-fledged sales and procurement tool for agribusiness companies, with significant growth observed in key commodity segments, including oilseed crops.
"The dynamics for meat auctions are also positive. Only in August, 4.8 thousand tons of meat were sold through the exchange. Since the beginning of the year, the total volume of meat and meat processing product trading has reached 15.3 thousand tons, worth over 2.9 billion rubles," he said. "The market's interest is confirmed by the growth in the number of participants in meat segment auctions—from June to October..."