The picture shows the first physical delivery and shipment of Singapore Asia-Pacific Exchange in Dumai Port, Indonesia (Photo courtesy of Asia-Pacific Exchange)
According to the exchange, the delivery method is FOB port, which is most in line with international spot trade habits. The docking between buyers and sellers is smooth, and the delivery process is standardized and orderly. The successful completion of the delivery marks the formal establishment of the spot price regression mechanism of palm oil in the Asia-Pacific Exchange, and the customer trading mode has officially opened up the whole industrial chain. The exchange has taken a solid step towards establishing the Asian price benchmark for commodities and opened up new business opportunities for global commodity investors.
According to the information provided by Asia Pacific Exchange, the seller of this delivery is AAA Oils & amp； Alex, deputy commercial director of Fatz Pte Ltd, said that the company participated in the transaction as soon as the refined palm oil futures contract of the Asia-Pacific Exchange was listed. This product meets the market demand for palm oil futures denominated in US dollars and delivered at offshore prices. At the same time, from the situation of Masukura, it also reflects the increasing recognition of the product in the market.