The Hindu Business Line : Physical delivery of rubber tops 30,600 tonnes on NMCE

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Kochi, Feb. 20 Rubber physical delivery on the National Mutli-Commodity Exchange of India (NMCE) touched 1,063 tonnes for the February series, taking the total physical delivery of the commodity since the beginning of futures trade to 30,612 tonnes.

However, the total volume of rubber traded in the February series at the exchange was 98,676 tonnes.

Indicating the depth and liquidity of futures trading, the physical delivery in rubber was only 1.08 per cent.

Commenting on the achievement, Mr Kailash Gupta, Managing Director of NMCE, said: "Indian rubber futures has proved to be the international benchmark as it is the price trendsetter.

Futures trading with transparent and robust final settlement greatly helps true price discovery. NMCE prices have discovered February series prices in January, much before Tokyo, Singapore and Thailand exchanges. As can be seen in January, the prices in international exchanges were left behind by about Rs 15 a kg. While international prices are higher than Indian prices now."

Since NMCE introduced rubber futures in 2003, the growers have benefited in terms of price, standardisation of quality and stability in prices, which is being felt by all the stakeholders.

Regarding the current surge in prices, NMCE said that the prices have been derived from the strong demand and supply factors, with the lean season coming up when tapping could be affected.

Cardamom recorded 39 quintal of physical delivery, accounting for 0.56 per cent of the 6,912 quintals of the total volume of the commodity traded at NMCE.

At present NMCE runs futures contracts in 198 series n 70 commodities and some series are more traded than others, a press release issued here has said.

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