Dalian Commodity Exchange has received approval from China’s regulator to launch crude palm oil futures. The launch will rival the incumbent crude palm contracts already offered by Bursa Malaysia (BM) and Joint Asian Derivatives Exchange (JADE).

The bourse has not given a potential timetable for the launch but stressed that it has “completed the various preparatory tasks and will launch the trading of the futures contracts soon”.

Dalian rival contracts have experienced differing fortunes since they were launched. While Bursa Malaysia’s contract has been performing well, speculation has been rife that CME Group, one-half of JADE’s founders, will abandon its interest in the exchange.

China does not allow foreign investment in its four derivatives markets, but many within the market expect this to change in the near future.