National Commodity Exchange launches auctions for soybean meal in Russia

MOSCOW. Aug 26 (Interfax) - The National Commodity Exchange (NCE) on Wednesday launched commodity auctions for toasted soybean meal feed that has undergone additional heat and moisture treatment, and Sodrugestvo Trading House is the seller, with Financial Conduct Authority (FCA) Kursk Region as the shipping base, the trading platform said.

Sodrugestvo Trading House is one of the largest oilseed processors in Russia and a leader in soybean meal sales on the domestic market. The company is also a strategic partner of the NCE in developing exchange trading in oilseed crops, including sunflower, rapeseed, and soybeans, and a major buyer of these crops on exchange trading.

The NCE launched commodity auctions in August 2021, initially focusing on wheat, and then subsequently expanding substantially to include livestock products.

Established in July 2002, the National Commodity Exchange trades in agricultural products at commodity auctions, spot trades in sugar, meat, dairy products, and other commodities, calculates grain market indices, and registers over-the-counter commodity contracts. The NCE is the authorized exchange of Russia's Agriculture Ministry that conducts government interventions in the agricultural, raw materials, and food markets.