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NCDEX has launched the world’s first bajra futures contract targeting the country’s farmers who contribute close to half of the global supply. Also known as Pearl Millet, it is cultivated in Rajasthan, Uttar Pradesh, Haryana and Gujarat.
Innovative products“NCDEX prices are an established benchmark for foodgrains in the Indian market. The bajra contract is part of our effort to offer innovative products designed to meet the needs of farmers and businessmen so that they benefit from efficient price discovery and risk management,” said Samir Shah, Managing Director and Chief Executive Officer, Ncdex.
NCDEX has ensured ample availability of accredited warehouses at the major trading centres in Delhi, Rajasthan and Uttar Pradesh to ensure the smooth delivery and better integration with the value chain. Bajra is used mainly for animal feed and production of alcohol. Its high fibre content is making it increasingly popular as a health food.
The contract will be available for trading from April 1 with contracts for May, June and July delivery.
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