KLCE trades only palmoil

KLCE trades only palmoil

KUALA LUMPUR (AFP): The Kuala Lumpur Commodity Exchange (KLCE)
has reverted to trading only crude palm oil due to a lack of
interest in its other futures contracts, officials said
yesterday.

KLCE officials said the exchange would stop quoting prices for
the SMR20, RSS1 rubber contracts, and tin and cocoa futures
because there had been no trade "for a sustained period of time."

The RSS1 last saw trade in December 1985 after being
introduced two years earlier, official said.

The KLCE is set to diversify into financial futures trading
later this year, sharing a clearing house with the privately-run
Kuala Lumpur Options and Financial Futures Exchange (KLOFFE),
also set to begin later this year.

The KLCE was the first commodities exchange to be set up in a
producer country when it opened in 1980 to trade in crude palm
oil.

The four other futures contracts were subsequently added but
failed to attract much interest.