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Commodity exchange to introduce 15 products in spot market

Category :India Sub Category :National,Business
2009-08-08 00:00:00
   Views : 565

Commodity exchange to introduce 15 products in spot market

Kolkata, Aug 8 - National Commodity and Derivatives Exchange Ltd (NCDEX) is planning to introduce 15 agricultural commodities that are currently being traded in the futures in the spot market, a top official said here Saturday.

'In the futures we have around 52 commodities out of which 15 are very active. We will try to get all the 15 into spot,' R. Ramaseshan, managing director and chief executive officer of the exchange, told reporters here.

It is planning to introduce all the 15 agricultural commodities in the spot market by next fiscal-end (2010-11), he said.

At present, the exchange has spot contracts in chana with delivery centres at Bikaner and Indore and in mustard with delivery centre at Sri Ganganagar.

NCDEX plans to introduce maize contract by October-December.

'The maize contracts would be launched in the Rabi season. The crop is a three-state phenomenon grown in Bihar, Andhra Pradesh and Karnataka and we plan to launch contracts for these varieties,' Ramaseshan said.




Author :Indo Asian News Service



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