Financial Daily from THE HINDU group of publications
Thursday, Mar 10, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 10, 2005 |
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Agri-Biz & Commodities
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Commodity Exchanges NCDEX to launch chilli futures tomorrow Our Bureau
Mumbai , March 9 NATIONAL Commodity & Derivatives Exchange Ltd (NCDEX) will launch trading in chilli futures from March 11. "The total market size of red chilli is about Rs 1,700-1,800 crore," Mr Narendra Gupta, Chief Business Officer, NCDEX, told Business Line. Chilli quality under the futures contract for delivery will be Guntur (paala) and Sannam medium best (bright red) and the delivery centre is Guntur in Andhra Pradesh. "The total crop of red chilli in the country is estimated to be around 10 lakh tonnes. Of which, 50 per cent is Guntur Sannam variety," Mr Gupta said. The initial contracts available for trading will be April, May and July. There will be minimum two contracts with a maximum of 12 contracts running concurrently, according to the contract specifications of NCDEX. The market lot and delivery lot will be 5 tonnes. On expiry of the contracts, if any seller wants he/she can make delivery at specified centres.
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