(July 16): Palm oil futures have been trading on Singapore’s Asia Pacific Exchange for just three months, but they’re already making their mark in a world long dominated by the benchmark contract in neighboring Malaysia.

The Chinese-backed bourse started trading crude palm oil futures on April 18. The product is dollar-denominated and physically deliverable to ports in West and East Malaysia, as well as Belawan and Dumai ports in Indonesia. The trading hours include a night session, and are longer than those on the Bursa Malaysia Derivatives and the Dalian Commodity Exchange.

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