BEIJING (Reuters) - Zhengzhou Exchange on Tuesday raised the trading margin requirements for some rapeseed meal futures contracts to 9% from 7% after Beijing's 100% tariff on Canadian imports triggered a two-day rally that pushed prices to a five-month high.

The most active rapeseed meal futures contract surged 7.23% to close at 2,684 yuan per metric ton, building on a 6% gain in the previous session, to its highest since September 2024.

The new trading margin requirements will be effective from settlement on March 12.

China on Saturday shocked markets with a 100% tariff to just over $1 billion of Canadian rapeseed oil, oil cakes and pea imports, and a 25% duty on $1.6 billion worth of Canadian aquatic products and pork.

The tariff announcement has sparked heightened market volatility, prompting the exchange to implement stricter margin rules to manage risk.

Earlier on Monday, the exchange increased the minimum order size for rapeseed meal futures contracts to curb small investor participation and stabilise prices.

According to Chinese customs data, China imported 2.02 million tons of rapeseed meal from Canada in 2024, accounting for 73% of its total imports. Other major suppliers include the UAE, Russia and Ukraine.

"After tariffs, importers may face losses and contract defaults. Spot supply is sufficient now, but reduced imports could tighten future supply. For rapeseed meal, demand may need to be curbed while monitoring shifts in the global trade chain," a China-based trader said.

"In the short term, this is expected to have minimal impact on the domestic supply of edible vegetable oils. However, the long-term effects of the trade policy implementation will require further attention," the Agriculture Ministry said in a monthly report.