NMCE settles prices of July-2008 contract, launches new series

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Ahmedabad, July 16 (UNI) The National Multi-Commodity Exchange (NMCE) today settled the prices of July-2008 contract in different commodities that matured yesterday, even as it launched new series for futures contract in 12 commodities.

The July-2008 contract in pepper was settled at Rs 14,208 (per quintal), which was Rs 256 lower than Rs 14,464 of June and Rs 167 lower than Rs 14,375 of April, but was marginally higher than Rs 14,134 of the May settlement price, an NMCE release said here.

The release said, among the contracts of other commodities that matured yesterday at NMCE, copra settled at Rs 4,398 (per quintal) as against Rs 4,089 of June, Rs 4,056 of May and Rs 4,186 of April.

Sacking settled at Rs 1,862 (100 bags of 50-kg each), which was slightly higher than Rs 1,829 of June, but far lower than Rs 2,013 of May.

Cumin seed settled at Rs 12,083 (per quintal) as against Rs 10,758 of June and Rs 10,433 of May. Guar gum settled at Rs 4,754 (per quintal) as against Rs 4,451 of June and Rs 4,596 of May. Rape seed closed at Rs 611 (20-kg) as against Rs 589 of June and Rs 523 of May.

The settlement prices of July-2008 contract of other commodities that matured at NMCE yesterday, include Coffee Arabica Rs 11,500 and Robusta Rs 10,133 (both per quintal) and cardamom Rs 576 (per kg).

The settlement prices are arrived at by averaging out the closing prices of the particular commodity on three days preceding the expiry date.

The new series for futures contract in cardamom, copra, cumin seed, guar gum, gold and silver launched today will expire on October 15, 2008. The new series in rape/mustard seed, coconut oil and sack on November 15, and that in pepper, coffee Arabica and Robusta on January 15, 2009.

NMCE also provides e-platform for trading in other commodities, such as menthol crystal, isabgol seed, turmeric, raw jute and non-ferrous base metals, having different schedules of introduction and expiry days.

UNI MP RN SM1628

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