ZCE Rapeseed Oil

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ZCE rapeseed oil futures trade on the Zhengzhou Commodity Exchange (ZCE). ZCE rapeseed oil futures are the most recent contract to be listed on the ZCE, and they were launched on June 8, 2007.

Each ZCE rapeseed oil futures contract represents 5 tons of deliverable 4th grade rapeseed oil, which is defined in accordance with Exchange standard Q/ZSJ 003-2007, while substitutions at differentials that meet ZCE delivery rules are also good for delivery, and its delivery date is set as the twelfth trading day of the delivery month[1].

Effective April 30, 2008 (the official website has not been updated yet), each ZCE rapeseed oil futures contract is subject to a margin rate equivalent to 6 percent of contract value, up from the previous 5 percent (e.g., 3495.6 yuan = 11652 yuan [RO809 last price on May 22, 2008] x 5 [tons/contract] x 6 percent) as well as a trading fee of 4 yuan (RMB) / contract.

In 2008, its first full year of trading, ZCE rapeseed oil futures traded 12,856,486 contracts and its turnover amounted to 609.5 billion yuan, already dwarfing ZCE hard white winter wheat futures, the least actively traded (in terms of volume) and smallest (in terms of turnover) contract on the ZCE.

ZCE Monthly Volume by Product.JPG



ZCE Rapeseed Oil futures
Exchange Zhengzhou Commodity Exchange
Settlement Physically delivered
Contract Size 5 tons/lot
Pricing Unit 5 yuan (RMB)
Tick Value 10 yuan (RMB)
Contract Months Jan, Mar, May, Jul, Sep and Nov
Last Trading Day The tenth business day of the delivery month
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 9:00-11:30 a.m. 1:30-3:00 p.m.
Ticker Symbol N/A RO
Price Limits N/A 4% above or below the previous trading day's settlement price

Contract Volume

In 2014, the volume of ZCE rapeseed oil futures traded ranked eighteenth among all agricultural futures and options contracts according to the FIA.

Year Total Annual Volume Percent Change
2014 13,897,650 17.2%
2013 11,853,858 --

References

  1. Rapeseed Oil Futures Contract Specs. Zhengzhou Commodity Exchange.