MCX launch future trading on Bengal potato variety
Kolkata, Sep 10 (UNI) Multi-Commodity Exchange (MCX) has launched future trading on Bengal variety potato 'Kufri Jyoti'.
The variety was selected for online forward contract trading on the commodity exchange. MCX launched two contracts of October and November of 30 tonnes lot each and Hoogly delivery. The listing price was Rs 500 per quintal.
"We are very happy to launch the Bengal potato contract on MCX," MCX CEO and MD Jignesh Shah said while launching the contract.
"There is scope for a turnover of Rs 4000 crore in potato trade annually according to our study," Shah said.
"MCX would install electronic rate boards across all the mandis in the state for getting price information online," he said.
MCX had already finalised two cold storages for delivery and was in negotiation with two to three more cold storages in other potato producing districts.
West Bengal also produces popular variety Chandramukhi but it did not list due to inadequate production and the trading volume in this variety is five to six times lower compared to Kufri Jyoti.
MCX lists future contract trades on potato linked to Agra Mandi in Uttar Pradesh. It has plans to launch potato contract for varieties of other states like Harayana, Bihar and Madhya Pradesh in future.
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