Financial Daily from THE HINDU group of publications
Friday, May 19, 2006
Financial Daily from THE HINDU group of publications Friday, May 19, 2006 |
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Agri-Biz & Commodities
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Spices & Condiments Vanilco offers vanilla call option Our Bureau
Kochi , May 18 The Vanilla India Producers' Company Ltd (Vanilco) has, for the first time in the world, offered `vanilla call option' for buyers of vanilla. The facility would give buyers a chance to buy vanilla at a specific price on a specific future date on payment of a fixed premium. Speaking at a press conference here to launch the vanilla call option, the Vanilco Managing Director, Mr Paul Jose, said that the premium was paid on the basis of the spot price of vanilla. "The premium depends on time period, interest and volatility," he said. The buyer has the right but not the obligation to take delivery of vanilla at the strike price, he said. The call option is available for three months and the call period would be extended to six months and one year in the near future, he added.
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