The Hindu Business Line : NMCE launches new series of contracts

Ahmedabad, Sept. 11 The National Multi-Commodity Exchange (NMCE) has launched new series in turmeric, soya oil, guarseed and chana desi for futures contracts.

The new contracts in turmeric, soya oil and guarseed will expire on January 19, 2008, while the delivery period begins three days prior to that on January 16. The new contracts for chana desi will expire on March 20, 2008, while the delivery period will begin on March 17.

The basis delivery centre for turmeric is Central Warehousing Corporation (CWC) warehouse at Erode in Tamil Nadu, and the additional delivery centre is at CWC, Nizamabad, in Andhra Pradesh. The delivery centre for soya oil is Indore in Madhya Pradesh, the exchange said here.

Additional centre

Looking to the market demand, NMCE has recently started Nizamabad as an additional delivery centre for the Nizamabad variety of turmeric at seven per cent discount. It has also effected certain changes in quality parameters in the Erode basis variety of turmeric started last June. The delivery centres for guarseed are Jodhpur (basis centre), Bikaner, Nokha in Rajasthan and Deesa in Gujarat with freight discount through CWC receipt.

The delivery centre for chana desi is CWC warehouse in Delhi. At present, NMCE runs futures contracts in about 180 series in 60 commodities, including pepper, cardamom, rubber, raw jute and metals.