Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
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Agri-Biz & Commodities
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Commodity Exchanges Marketing - New Products & Services NCDEX launches rapeseed/mustard meal futures Our Bureau
Mumbai , Jan. 19 THE National Commodity and Derivatives Exchange Ltd (NCDEX) on Thursday announced the launch of rapeseed-mustard meal (oilcake) futures contracts. The initial contracts available for trading would be for March, April and May. The basis for rapeseed-mustard seed oilcake is ex-warehouse Sri Ganganagar (Rajasthan), exclusive of sales tax/VAT for better price discovery. "We already have mustardseed as well as expeller mustard oil futures contract on the exchange platform. With the launch of rapeseed-mustard seed oilcake, we will be offering the market with a complete hedging solution on mustard complex. "Rapeseed-mustard seed oilcake will be useful to millers, solvent industry and livestock feed industry," Mr Tapan Mishra, Assistant Vice-President, NCDEX, said. The total market size of rapeseed-mustard seed oilcake is around Rs 2,200 crore. It is preferred over other cakes because of its versatile uses such as cattle feed, poultry feed, pig feed, aqua feed and organic fertiliser.
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