Dubai Gold and Commodities Exchange (DGCX) is planning to launch plastics futures contracts to offer hedge against escalating prices.

Prices have increased by 15 to 20 per cent over the past six months.

Details of the proposed plastics futures contracts were unveiled to investors and the plastics community at a workshop organised by DGCX and RBS Sempra Metals, a leading ring dealer member of the London Metal Exchange, a report in Emirates Business said.

The aim of the workshop was to address the issues facing the industry in relation to managing price risk volatility and to provide the plastics supply chain with a detailed understanding of how DGCX plastics futures contracts can facilitate in managing adverse fluctuations in market prices, it said.