NMCE starts futures in mustard seed; new series in rubber, pepper

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Ahmedabad, Feb 15 (UNI) The city-based National Multi-Commodity Exchange (NMCE) today announced that it has started futures contract in rapeseed/ mustard seed, with certain changes in the delivery centres.

The new contracts will be available in four series for trading on the electronic platform of NMCE from tomorrow. These contracts will expire on March 15, April 15, May 15 and June 14 respectively.

Rapeseed/mustard seed is a major oilseed grown as a rabi crop across India, contributing to nearly 13-14 per cent of the global share.

The commodity is traded in lots (units) of 10 metric tonnes (MT) and the price is quoted in rupees per 20 kg. The open position limit for clients is 10,000 MT and for members 30,000 MT.

The change in the rapeseed/mustard seed has been made by adding 16 new delivery centres in Gujarat, in addition to the basis centre at Patan. The new delivery centres are Palanpur, Deesa, Dhanera, Sidhpur, Unjha, Mehsana, Kadi, Bhabhar, Harij, Talod, Himatnagar, Bhuj, Rajkot, Halwad, Jamnagar and Dhoraji.

Meanwhile, NMCE has launched a new series in 12 other commodities and nine 'spread series' in pepper, rubber and castor seed (10 MT).

These new series will also be available for futures trading from tomorrow.

Out of the new series in 12 other commodities, that in cardamom, coconut oil, copra, cumin seed, gold, silver, guar gum and isabgul seed will expire on May 15, while in rubber and sacking on June 14, pepper and castor seed (10 MT) on August 14.

The nine new 'spread series' include three each in pepper and rubber, which will be available for futures trading, spread over February 16 to March 15, April 15 and May 15 and that in castor seed up to June 14, 2008 respectively.


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