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last update:Jul 1, 2008
Pork to debut on Korean futures market
Pork, which is a bigger meat industry in Korea than
beef, will be traded on the futures market from 21st July, making it the 15th
futures item in Korea the nations' bourse has said.
“The newly launched commodity futures product is expected to help stabilize
food prices and assist producers in a major industryâ€, said Kong Do-hyun, a
senior manager for product development at the Korea Exchange's futures market
division.
Pork will be the first agricultural product to be listed on the
futures market and was chosen due to the high volatility of its price. Korea
will become the third country to list pork futures, following the United States
and Germany.
The production size of the pork market in Korea was 3.6
trillion won ($3.5 billion) last year, the second biggest agricultural product
in Korea next to rice, the KRX said.
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