Increased trade in olive oil futures

The Olive Oil Futures Market (MFAO) booked a €213,000 ($280,000) loss last year despite a 28% spike in the number of contracts negotiated in it. But its fortunes turned around in the first quarter of this year – as movements in olive oil prices sparked even more trade – seeing it end April with a profit of nearly €136,300 ($180,000). The market closed 2012 with nearly 98,000 contracts negotiated, up about 21,000 on 2011, and with August and December by far the busiest months.