Financial Daily from THE HINDU group of publications
Wednesday, Mar 30, 2005
Financial Daily from THE HINDU group of publications Wednesday, Mar 30, 2005 |
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Agri-Biz & Commodities
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Cashew NCDEX begins cashew futures in Kollam Our Bureau
Mumbai , March 29 THE National Commodity and Derivatives Exchange Ltd (NCDEX) on Tuesday launched a cashew futures contract in Kollam, Kerala. Mr P. Bharathan Pillai, Chairman of Cashew Export Promotion Council of India, inaugurated the cashew futures trading. The opening trade in the May contract was registered at Rs 5,498 per carton (each of 22.68 kg). The price quote will be on a net basis and the net weight of each carton will be 22.68 kg. The main delivery centre is Kollam, with Mangalore as an additional centre. The initial contracts available for trading will be for expiry dates in May and July. The product basis for the contract is set as W-320 ex- warehouse Kollam, exclusive of all taxes. The units of trading and delivery are both 50 cartons. The position limit is set at 40,000 cartons for a member and 10,000 per client.
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