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Kochi, Feb. 13

MULTI Commodity Exchange of India (MCX) on Monday launched cardamom futures.

The grade specified for trading in MCX is cardamom 7 mm and above with a litra weight of 400 gm and above, a press release said.

The trading unit fixed by the exchange for cardamom contracts is 100 kg. The price quotations will be ex-Vandanmedu, in Idukki district of Kerala. The tick size of the contract is 10 paise/kg, with daily price limit of five per cent.

Trading contract will open on the 16th of the month and would run for five months. Each contract would expire on the 15th day of the contract month. There would be an initial margin of seven per cent. Delivery will be in lots of 100 kg at exchange approved by Kerala State Warehousing Corporation's specialised warehouses located in Vandanmedu.

(This article was published in the Business Line print edition dated February 14, 2006)
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