(Yicai Global) Jan. 16 -- The Zhengzhou Commodity Exchange has started trading China's first canola meal options today just two months after getting the green light to launch the country's 11th commodity option product.

Some 78 contracts were listed to help investors manage price risks, CCTV reported today. The demand for rapeseed meal, used in fish feed, has grown on the back of the country's expanding seafood market.

China has boosted its commodity derivates market fast. Last year, the country doubled the variety of options to include commodities such as natural rubber, cotton, and corn. The ZCE launched canola meal futures in 2012.

Rapeseed meal options will help in price discovery, said Xiong Wei, the exchange's chief supervisor.

China needs to increase the supply of commodity options to enrich its derivates system, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said last November.

Editor: Emmi Laine