By Ed Ballard
Euronext N.V. (ENX.FR) Tuesday said the launch of its new European sugar futures contract has been pushed back.
"Euronext continues to work towards the launch of a European Sugar contract, likely in Q1 2017," Euronext wrote in a newsletter. Previously the exchange operator had targeted a fall 2016 launch.
The introduction of the contract anticipates the overhaul of the European Union sugar market in September 2017. Some analysts expect the removal of production quotas and minimum prices in the bloc to boost production and make prices more volatile.
A Euronext spokeswoman said the company is still refining some details of the contract with industry participants, but declined to give specifics.
"It's just a matter of getting the proper hedging tool to suit the industry," she said.
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(END) Dow Jones Newswires
November 22, 2016 12:17 ET (17:17 GMT)
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