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Our Bureau

Mumbai , April 19

THE National Commodity & Derivatives Exchange Ltd (NCDEX) on Tuesday launched arabica and robusta coffee futures.

The first trade of robusta May contract was registered at Rs 54 a kg and total volume for the day was 198 tonnes.

Similarly, the first trade of arabica May contract was registered at Rs 114 a kg with total trading volume of 6 tonnes for the day.

The initial contracts available for trading would be for expiry dates in May 2005, July 2005 and September 2005.

The basis for trade for arabica futures is Plantation A coffee ex-warehouse Hassan (Karnataka) exclusive of all taxes.

Basis for robusta cherry clean bulk is ex-warehouse Kushalnagar (Karnataka) exclusive of all taxes.

Speaking on the occasion, Mr Narendra Gupta, Chief Business Officer, NCDEX, said coffee was one of the sectors growing at a furious pace.

He expected the momentum to spill on to the futures market as well. .

Ms Meera Manoj Kumar, AVP - Products, said coffee as a commodity was well integrated with the global markets.

Annualised volatility in coffee was about 40 per cent.

Till date, coffee traders in India were using LIFFE & NYBOT as their trading platform.

Now they will have an Indian platform to trade.

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