Zhengzhou Commodity Exchange CZCE: derivatives exchange in Zhengzhou
Zhengzhou Commodity Exchange is a Chinese commodity venue with a substantial agricultural offering.
AGR-010 · Derivatives exchange · Zhengzhou, China · CNY
Chinese cotton, sugar, rapeseed and selected fruit benchmarks
Zhengzhou Commodity Exchange is a Chinese commodity venue with a substantial agricultural offering. Alongside cotton, sugar and rapeseed products, its distinctive contracts include fresh apples and dried jujubes. These are useful reference points for businesses studying specific domestic food supply chains. The exchange also covers industrial products and urea, an agricultural input. The catalogue identifies urea separately from food so that users can filter the market according to whether they are sourcing crops or production inputs.
An apple futures contract is not a universal sales channel for every variety or country of origin. Its relevance depends on quality standards, sizing, delivery requirements and access to the specified infrastructure. For a fruit exporter, the quotation is primarily a signal from a particular market, to be compared with an importer’s offer and the costs of admissibility, freight and storage. Similar care is needed with rapeseed, oil and meal: these are separate products representing different uses, processing stages and specifications.
Actual activity in an expiry is an important part of the commercial assessment. The official January–May 2025 bulletin reported zero volume for some rice and common-wheat contracts. A product appearing in the catalogue therefore does not establish that it is liquid. A prospective buyer or seller should review volume, open interest and available bids and offers for the selected month. Partial-year figures must not be compared directly with another venue’s full-year result or described as the complete 2025 total. This distinction is preserved in the statistics supplied with the directory.
Trading and physical-settlement eligibility should be established with an intermediary familiar with the product and participant category. Prepare the commodity specification, intended quantity, timing and funding arrangements before placing an order. Official daily and historical information is available mainly in Chinese, with some explanatory publications in English. A physical trade also needs agreement on sampling, claims, storage charges and collection location. Futures prices can support negotiations, but cannot by themselves establish the quality or logistical feasibility of a shipment. When an exporter compares the benchmark with an overseas offer, it should record the quality and delivery differences explicitly, so that a later change in the price spread can be interpreted correctly.
What is priced: Grains, oilseeds and pulses, Fruit, Fertiliser, feed and crop protection, Coffee, cocoa, tea, sugar, cotton, rubber and spices, Vegetable oils and olive oil
Where to find the prices
Products and quotations
Cotton No 1; Cotton yarn; White sugar; Rapeseed; Rapeseed meal; Rapeseed oil; Fresh apples; Dried jujubes; Peanut kernels; Strong wheat; Common wheat; Early long-grain paddy; Late long-grain paddy; Medium and short-grain paddy; Urea — agricultural input
Key figures
- Fresh apple futures volume: 11,860,055 contracts (01–05). 2025. Partial year; AP contract.
- Rapeseed meal futures volume: 112,987,402 contracts (01–05). 2025. Partial year; RM contract.
Sources
- CZCE — May 2025 bulletin
- CZCE — daily data
- CZCE — catalogue
- CZCE — historical data
All agricultural exchanges, markets and price sources
