China Has Its Own Apple Launch That's Nothing to Do With iPhones
- China starts apple futures trading Friday in Zhengzhou
- They’re the most popular fruit in China, according to the USDA
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They won’t be lining up round the block to get their hands on them, but there’ll no doubt be some buyers keen to snap up China’s new apple futures contracts.
The Zhengzhou Commodity Exchange will list Fuji apple futures on Friday, adding to contracts it already offers including wheat and white sugar, meaning investors could pretty much hedge all the key ingredients of an apple pie. They’ll start trading at 7,800 yuan ($1,184) a metric ton.