The Hindu Business Line : NMCE settles July series contracts

Ahmedabad, July 18The National Multi-Commodity Exchange (NMCE) has launched 43 new contracts and six new ‘spread series’ for futures, while it has settled the prices in various commodities of the July 2007 series that expired on Saturday last.

Rubber in the aforesaid series has settled at Rs 7,859 (per quintal), which was lower than the previous three series, varying from the Rs 8,194 of June and Rs 8,452 of May to Rs 9,254 of the April series.

The July series in the commodity was launched on March 16, 2007, as it recorded the highest intra-day traded price of Rs 10,425 on March 24 and the lowest of Rs 7,301 on July 4, according to a release here.

Pepper lower

The July 2007 series in pepper, another highly-traded commodity at NMCE, settled at Rs 14,507 (per quintal), which was higher than the Rs 13,806 of June, but lower than Rs 14,895 of May and Rs 15,253 of the April series.

The July series in pepper was launched on January 16, 2007. It posted the highest intra-day traded price of Rs 16,800 on April 12 and the lowest of Rs 12,151 on March 13.

The July 2007 series in cardamom settled at Rs 479 (per kg), as against Rs 398.85 of June, Rs 394 of May and Rs 404 of the April series.

The settlement prices are arrived at by averaging out the spot prices of the particular commodity on five days preceding the expiry date. Different series are launched on different specified dates of the month and run for different periods. For instance, pepper is simultaneously traded in six series, rubber in four, and cardamom in three.