Palm oil futures a hit

SHANGHAI: The second agricultural futures contract introduced this year opened yesterday on the Dalian Commodity Exchange (DCE) with a bang.

Five out of six palm oil futures contracts surged to the daily allowable limits on the first trading day on the DCE.

Contracts for delivery in January, February, March and September soared to the daily allowable limit of 8 percent to 8,424 yuan per ton from their opening prices in the early hours of trading and stayed there for the rest of the day.