Ahmedabad, Oct 26 (UNI) The National Multi-Commodity Exchange (NMCE) has launched a new series in Menthol Crystal for futures contract.
The new series will expire on January 15, 2008. It will run concurrently with the two other series, which are going to be expired on November 15 and December 15, 2007, an NMCE release said here today.
NMCE happens to be the first commodity exchange in the country to introduce futures contract in Menthol Crystal last month, in three series to begin with, as per the approval of the regulator, the Forward Markets Commission (FMC).
Transparent, colourless, dry, needle-like pleasant-smelling, Menthol Crystal is produced from Mentha Oil. It finds wide use in confectionery and pharmaceutical formulations in the domestic and international markets.
The open position limit for clients is 200 Metric Tonne (MT) and for members 600 MT. The Central Warehouse Corporation (CWC) warehouse in Delhi is the delivery centre. Sellers can tender Warehouse Receipt (WR) for settlement at the closing price of the previous day.
The trading unit (lot) is one quintal, while the price is quoted in rupees per kg, the release added.