World’s first fruit futures start trading in China

Xinhua Published: 2017-12-22 15:05:49
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

The world's first apple futures contracts started trading on Zhengzhou Commodity Exchange in central China's Henan Province Friday morning.

The world's first apple futures contracts start trading on Zhengzhou Commodity Exchange in Henan Province on December 22, 2017. [Photo: jrj.com.cn]

The world's first apple futures contracts start trading on Zhengzhou Commodity Exchange in Henan Province on December 22, 2017. [Photo: jrj.com.cn]

China is the world largest apple grower and consumer, and its apple output and farms have been increasing over the past decade. In 2016, China had 2 million hectares of apple trees with an output of 43.88 million tons, accounting for 57 percent of global supply.

Apple growing is key to China's poverty alleviation campaign, as many of China's impoverished areas rely on apples as a major income source. Among all 122 key apple growing cities and counties listed by the Ministry of Agriculture, 33 are national-level impoverished counties.

Data shows China had 2 million hectares of apple trees with an output of 43.88 million tons in 2016, accounting for 57 percent of global supply. [File Photo: VCG]

Data shows China had 2 million hectares of apple trees with an output of 43.88 million tons in 2016, accounting for 57 percent of global supply. [File Photo: VCG]

Currently, apple prices are solely determined by the market, and farmers and enterprises are at the mercy of market price fluctuations.

The launch of the futures is expected to make prices more transparent and help growers hedge against price risks.

Related stories

Share this story on

Most Popular

Photo

A treat for Star Wars fans - droid R2-D2 on display in Hangzhou
When hot pot meets hot spring
China prepares to build 5th Antarctic research station
Annual Christmas parade held in Panama City
Combo photos of survivors of Nanjing Massacre
2017 Belt and Road Brand Expo attracts visitors in Shanghai

News

Media briefing on Xi Jinping's APEC leaders meeting, SE Asia visit
"Naughty" elephant damages two vehicles in SW China
Chinese group demands compensation from Japan for Nanjing Massacre
Chengdu tops list as China's happiest city
Top procuratorate investigates Sun Zhengcai
Xi stresses nonstop efforts to fight undesirable work styles