NMCE sets new record in physical delivery of rubber

Ahmedabad, May 17 (UNI) City-based National Multi-Commodity Exchange (NMCE) has set a new record in physical delivery of 4583 metric tonnes of rubber in the May-2007 series, improving its own record of 4,193 MT physical delivery in the March-2007 series.

This takes the cumulative physical delivery of rubber since the beginning of the futures trading of the commodity at NMCE to 42,878 MT in less than four years, reflecting strong confidence of different segments of the market, starting from small planters to big hedgers on the exchange.

Among the other highly traded commodities at NMCE, the physical delivery of pepper in the May-2007 series stood at 1,771 MT and that of cardamom in the same series at 222 quintal.

As to the closing prices of these three commodities in the May-2007 series that expired yesterday, rubber settled at Rs 8,452 per quintal, pepper per quintal at Rs 14,895 and cardamom at Rs 394.90 per kg. The settlement prices are arrived at by averaging out the closing prices of the particular commodity on five days preceding the expiry date.

In case of rubber, the May-2007 series that settled at Rs 8,452 was lower than Rs 9,425 of April-2007 series and Rs 8,770 of March-2007 series. In case of pepper, the May-2007 series that ended at Rs 14,895 was lower than Rs 15,253 of the April-2007 series but higher than Rs 11,523 of the March-2007 series.

Cardamom May-2007 series that settled at Rs 394, was lower than the April-2007 settlement price of Rs 404 and March-2007 settlement price of Rs 482.

However, among different commodities of the May-2007 series, pepper remained volatile on NMCE trading platform. It recorded the day's high of Rs 16,180 on April 12 and low of Rs 9,898 on December 9, 2006, during intraday trading. Pepper is concurrently traded on six series.

Rubber recorded the day's high of Rs 11,690 on February 1 and low of Rs 8,107 on May 1. Cardamom recorded the day's high of Rs 506.90 on February 24 and low of Rs 325.30 on May 10.

UNI