MOSCOW EXCHANGE IS WORKING ON THE LAUNCH OF DOMESTIC SUGAR PRICE FUTURES

This was announced by the director of National Mercantile Exchange (NAMEX, a member of Moscow Exchange Group) Nikita Zakharov. According to him, domestic price will become the underlying asset: Russia hardly exports sugar so its price primarily depends on internal factors. Now we consider over-the-counter trading as the basis for calculating the index. “Further on, we will look at the possibility of using exchange market for index too: over the past year, the volume of sugar trade on NAMEX doubled ", Zakharov informed.
Cash-settled futures for raw sugar traded on Intercontinental Exchange is among the derivatives market instruments now. The new futures based on domestic Russian prices will also be cash-settled.
Besides, the possibility of launching a futures for sunflower oil export price is being considered. Let me remind you that currently the index for this commodity is calculated on basis of over-the-counter deals and is used to determine the export duty.
Among other projects is the launch of milk and dairy products commodity auctions: according to Zakharov, the concept prepared by the exchange is now being studied by the National Dairy Producers Union and a number of large producers.
"The next point of interest, but without specific dates, is poultry meat and pork. We would also like to deal with fertilizers, however, state regulation of prices still remains in the industry and it disagrees with stock exchange trading”, the director of NAMEX said.


Source: https://ria.ru/20230511/sakhar-1870930425.html