Rubber settles at Rs.9,089 at NMCE

Ahmedabad, Aug 17: Even as the National Multi-Commodity Exchange (NMCE) launched 42 new series and six new 'spread series' for futures contract, the exchange settled the prices in various commodities of the August-2007 series that expired last Tuesday.

Rubber in the aforesaid series has settled at Rs.9,089 (per quintal) at a higher level than the previous three series varying from Rs.7,859 of July, Rs.8,194 of June and Rs.8,452 of the May-series, a NMCE release said.

The August-2007 series in pepper, another highly traded commodity at NMCE, settled at Rs.13,073 (per quintal), which was lower than Rs,14,507 of July, Rs.13,806 of June and Rs.14,895 of the May-series.

The August-2007 series in cardamom settled at Rs.421 (per kg) as against Rs.479.00 of July, Rs.398.85 of June and Rs.394.00 of the May series.

The settlement prices are arrived at by averaging out the spot prices of the particular commodity on five days preceding the expiry date. Different series are launched on different specified dates of the month and run for different periods. For instance, pepper is simultaneously traded in six series, rubber in four and cardamom in three series.

Meanwhile, the new series launched yesterday include that in rubber, pepper, cardamom, cumin seed, guargum, gold and silver, among others.

NMCE provides electronic platform for trading also in other commodities such as base metals, turmeric, chana, soyaoil and guar seed having different schedules of introduction and expiry days.

UNI