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.