The Hindu Business Line : MCX to accept 6 mm cardamom delivery

Kochi, Aug. 10 MCX has decided to accept delivery of 6 mm cardamom from the September contract onwards, based on feedback received from planters, farmer organisations and traders.

Cardamom futures contracts were introduced on February 14, 2006.

The contracts clock an average daily turnover of Rs 12 crore, according to an exchange release here.

Mr Joseph Massey, DMD, MCX, said, “A total of 120 million tonnes of delivery worth Rs 4.6 crore has been facilitated on the exchange platform till date. From September contract onwards, we will also accept 6 mm and above grade of cardamom but at a 15 per cent discount to 7 mm.

“Generally, around 30 per cent of the crop is above 7 mm and 40 – 45 per cent is 6-7 mm. The move will help farmers and traders to hedge their risk and receive maximum benefit during the season. It will also enable increased deliveries at the exchange.”

More Stories on : Commodity Exchanges | Spices & Condiments

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
MCX to accept 6 mm cardamom delivery

Organic area

Rain surplus swells as Bay throws up new ‘low’

Kharif acreage up in most crops except rice

Inflation rate rises on costlier food items

STC keen on supporting back-end farm operations

‘Health woes unlikely to affect rubber output’

Spot rubber steady despite lack of demand

Firm trend at Kochi tea auction

Hind Copper plans joint venture for Banwas mine

Cardamom prices rise due to short supply

Pepper futures gain a tad

MCX revamps commodity index