Dojima Exchange Files for Permanent Listing of Rice Futures
Osaka, July 16 (Jiji Press)--The Osaka Dojima Commodity Exchange filed on Friday for Japanese agriculture ministry approval for a permanent listing of its mainstay rice futures.
The exchange, based in the western city of Osaka, currently operates rice futures trading on a trial basis.
The ministry will decide whether to approve the application by the Aug. 7 end of the trial period.
The exchange's rice futures market was launched in August 2011 for a two-year trial. Trading continued to be sluggish for years, however, mainly because the Japan agricultural cooperatives, or JA, group, which has enormous influence over domestic rice production and distribution, opted not to take part in the market.
With the exchange unable to start permanent trading, the trial period has been extended four times.
[Copyright The Jiji Press, Ltd.]