NMCE modifies menthol contract specifications

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Ahmedabad, Gujarat, Nov 30 (UNI) The National Multi-Commodity Exchange (NMCE) has modified contract specifications of menthol crystal, with a new series that is to be launched tomorrow.

As per the new specifications, the new futures series will now expire on the last day of the calendar month, and in case of it being a holiday then on the previous working day (instead of the 15th day of the delivery month). Thus, the new futures series will expire on March 31, 2008, an NMCE release said here today.

The release said, in another major change effected, the delivery centre for menthol crystal will be Central Warehousing Corporation (CWC) warehouse at Chandausi (instead of the existing CWC warehouse in Delhi) from March-2008 series onwards.

The ticker size for trading is also being changed to 10 Paisa from March-2008 contract (instead of the existing 5 Paisa) for easier transactions. However, it is traded in lots of one quintal, while the price is quoted in Rupees per kg, as earlier.

The commodity has to be packed in poly bags now on, before being placed inside 25-kg fibre drums, lined with thermocol sheet.

The Exchange has also effected certain changes in the quality, like marginally relaxing levo-menthol content on chromatographic to 99.50 per cent (from 99.51 per cent). The changes have been approved by the commodities market regulator, Forward Markets Commission (FMC).

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