Comments
Ace Derivatives and Commodity Exchange Ltd (ACE), a Kotak Mahindra Group anchored commodity exchange, announced commencement of futures trading in guar seed and guar gum effective from Monday.
Last week, Commodity exchanges Multi-Commodity Exchange of India (MCX) and NCDEX restarted futures trading in guar seed and guar gum contracts following which the commodity markets regulator Forward Markets Commission (FMC) decided to lift the ban.
The trading unit for both the guar seed and guar gum contracts is 1 tonne. The tick size is Rs 10. Both are compulsory delivery contracts with staggered delivery mechanism, ACE said in a statement here.
The basis centres for guar seed and gum is Jodhpur and additional delivery centres are in Rajasthan, Haryana and Gujarat, which would be the key regions participating in Guar contracts. Apart from these centres the exchange would also focus on participants from Delhi, Mumbai and Kolkata region.
“The re-launch of guar seed and guar gum contract will provide an effective price discovery and risk management platform to all the stakeholders in the economy.
“The players, including farmers, brokers, traders, processors and exporters will be able to efficiently hedge the price risk they carry in their day to day trade through their participation in this contract,” ACE CEO Dilip Bhatia said.
ACE currently offers trading in nine agri commodities - refined soy oil, soybean, soybean meal, RBD palmolein, cotton, mustard seed, castor, chana and sugar.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.