AFET to offer Hom Mali futures trading

AFET, Agricultural Futures Exchange of Thailand, preparing to introduce trading of Thai Hom Mali Rice Grade B contracts on July 14. Thai Hom Mali Rice 100% Grade B contract would be traded under the symbol BHMR, with a contract size of 15 tonnes per unit. Trading would be allowed for both options as currently executed for 5% white rice. Under the both-options regime, traders are allowed to settle contracts in cash or by physical delivery. In the past, only cash settlements were allowed.

Hom Mali exports have grown steadily by 10% on average over the last three years, with last year's figure reaching 1.864 million tonnes. For the first five months of this year, Hom Mali shipments amounted to 917,000 tonnes, up 21% from a year earlier. Last year, three of the top 10 Hom Mali importers _ Senegal, Ivory Coast, and Ghana _ were in Africa. Senegal alone imported up to 540,000 tonnes.