NMCE launches new series for future contract

Ahmedabad, Jun 16 (UNI) Even as the National Multi-Commodity Exchange (NMCE) today launched new series for futures contract in different commodities, the exchange settled the prices for June-2008 contracts that matured last weekend.

The June-2008 contract in pepper settled at Rs.14,464 (per quintal), which was marginally higher than Rs.14,134 of May and Rs.14,375 of April contract, an NMCE release said here.

The June-2008 contract in cumin seed settled at Rs.10,758, up from Rs.10,433, and castorseed settled at Rs.2,680.

However, June-2008 contract in isabgol seed (psyillium) settled at Rs.4,577, down from the previous month's Rs.4,609, and guar gum at Rs.4,451, also down from Rs.4,596.

Similarly, the June-2008 contract in sacking settled at Rs.1,829 (100 bags), down from the previous month's Rs.2,013.

Among other commodities that matured at NMCE, coconut oil settled at Rs.6,194 at a little higher level than Rs.6,092 from May but lower than Rs.6,250 of April contract. Copra settled at Rs.4,089 at slightly higher than Rs.4,056 of May, but lower than Rs.4,186 of April contract.

The June-2008 contract in rape/mustard seed closed at Rs.589 (20-kg), cardamom at Rs.628 (per kg).

The new series for futures contract, launched today, included the same commodities which expired last weekend.

NMCE also provides e-platform for trading in other commodities, such as non-ferrous base metals, menthol crystal and raw jute, having different schedules of introduction and expiry days, the release added.

UNI MP OBB AG1618