Financial Daily from THE HINDU group of publications
Thursday, Dec 23, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 23, 2004 |
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Agri-Biz & Commodities
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Commodity Exchanges Turmeric futures on MCX from today Our Bureau
Mumbai , Dec. 22 THE Multi-Commodity Exchange of India (MCX) will launch futures trading in turmeric from Thursday. "The exchange is launching two turmeric contracts simultaneously, i.e. April and July, 2005. There will be four contracts in a year," Mr Jignesh Shah, Managing Director of MCX, told Business Line. "The exchange has formed a national level advisory committee for turmeric futures trading. We are expecting participations from all the major turmeric centres such as Sangli, Nizamabad, Duggirala, Cuddappa, and Erode," he said. Trading and delivery unit is 50 quintals. Quotation will be in rupee a quintal. Delivery centres are Sangli, Nizamabad, Erode and Duggirala. Nizamabad variety would be basis variety. Other deliverable grades would be Erode, Sangli and Desi Cuddapah at Par; Rajapore and Salem at 10 per cent premium while Cuddapah, Duggriala Cuddapah, Nanded & Warangal would be at 2 per cent discount. The premiums and discounts may be revised by the exchange on or before the expiry date of the contract.
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