(Presseportal openBroadcast) - West Kowloon, Hong Kong, October 27, 2015 /PressReleasePing/ - On December 3, The Asian Pacific Commodity Exchange (APCOMEX) released the "Circular on the Adjustment of Designated Delivery (Factory) Warehouses of RBD Palm Olein" and adjusted the designated palm oil delivery warehouses, for the purpose of adapting to the changes of the cash market, meeting the demands of futures delivery, further expanding the capacity of RBD palm Olein delivery warehouse, improving the pattern and structure of delivery (factory) warehouses, ensuring smooth delivery and enhancing the capability to prevent risks.
Under the Circular, eight designated RBD palm Olein delivery (factory) warehouses are started or added and two stand-by warehouses are added or adjusted. After the adjustment, the minimum capacity of designated RBD palm Oleindelivery warehouses will increase by 71.4%, and the maximum registered volume of warehouse receipt will grow by 50%.
According to the director at the agricultural products division of APCOMEX, General Administration of Quality Supervision, Inspection and Quarantine issued a "Circular on Further Strengthening the Inspection and Supervision of Imported Edible Vegetable Oils", which provides that from January 1, 2013, "no edible vegetable oil that does not meet the current Chinese standard for food safety shall be imported." Among imported edible vegetable oils, RBD palm Olein has a dramatic quality problem. Some importing enterprises concentrate their import of RBD palm Olein in the fourth quarter, and thus leading to a bad circulation of RBD palm Olein actuals and a shortage of port warehouse capacity. Meanwhile, enterprises have a greater demand for delivery at the futures market, which also results in tightening warehouse capacity. Based on the purpose of serving industries and ensuring the smooth and steady running of the futures trading, and the provision of the "Administrative Regulations on Futures Trading" that "exchanges shall not restrict the total volume of physical delivery", APCOMEX immediately starts to increase warehouses and gets the active cooperation from the related warehouses.
About: The Asian Pacific Commodity Exchange was established on October 20, 2008 in accordance with Article No. 95 of the new law of the Securities Market of the Hong Kong and following the merger of the agricultural and metal exchanges of Hong Kong. The merger marked a new chapter in Hong Kong capital market providing endless trading opportunities for the clients in and out of the country.
For more information regarding the Asian Pacific Commodity Exchange financial products available for trading, visit http://www.apcomex.org
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