NMCE launches new series in Turmeric, Soy oil, Guar seed

Ahmedabad, Sept 10 (UNI) The National Multi-Commodity Exchange (NMCE) today launched a new series in Turmeric, Soy oil, Guar seed and Chana Desi for futures contracts.

The new contracts in Turmeric, Soy oil and Guar seed will expire on January 19 2008, while the delivery period begins three days prior to that on January 16. The new contracts for Chana Desi will expire on March 20, 2008, while the delivery period will begin on March 17, a NMCE release said here.

The basis delivery centre for Turmeric is Central Warehousing Corporation (CWC) warehouse at Erode in Tamil Nadu, and the additional delivery centre is at CWC Nizamabad in Andhra Pradesh.

The delivery centre for Soyoil is Indore in Madhya Pradesh.

Looking to the market demand, NMCE has recently started Nizamabad as an additional delivery centre for the Nizamabad variety of Turmeric at seven per cent (7 per cent) discount. It has also effected certain changes in quality parameters in the Erode basis variety of Turmeric started last June.

The delivery centres for Guar seed are Jodhpur (basis centre), Bikaner, Nokha in Rajasthan and Deesa in Gujarat with freight discount through CWC Receipt. The delivery centre for Chana Desi is CWC warehouse in Delhi.

At present, NMCE runs futures contracts in about 180 series in 60 commodities, including pepper, cardamom, rubber, raw jute and metals. NMCE has been promoted by CWC, Punjab National Bank (PNB), NAFED, Gujarat Agro Industries Corporation, Gujarat State Agricultural Marketing Board (GSAMB), Jaipur-based National Institute of Agricultural Marketing (NIAM) and Neptune Overseas Limited.

UNI