Our Bureau

Mumbai, Jan. 5

THE NCDEX on Tuesday launched futures trade in maize and gur. The exchange now has 23 agriculture commodities available for trading.

Mr A. Venkateshulu, General Manager of Andhra Pradesh Co-operative Marketing Federation (Hyderabad), and Mr Amrutlal of Amrutlal & Company (Nizamabad) kicked off the futures trading in maize.

Mr Pankaj Kumar Agarwal, Secretary of Gur & Khandsari Merchants Association (Hapur), and Mr Shiv Bhagawan Mundhra of Jaya Prakash Kanhaiyalala & Company (Muzaffarnagar) initiated the futures trading in gur, said NCDEX in a release.

The contracts in maize trading are available for February, March and April.

The quality available for trading in maize would be yellow/red maize and the unit of trading and delivery unit both would be 50 metric tonnes.

The exchange has assigned six warehouses for physical delivery.

Nizamabad will be the major delivery centre, while Davangere, Karimnagar, Nimbheda, Ratlam and Bahraich will be additional centres.

In the case of gur, contracts have been made available for February, March and April. The unit of trading and delivery unit would be 10 metric tonnes.

The quality of gur available for trading is dry golden gur of Chaku type. The exchange has assigned four warehouses for physical delivery. Muzaffarnagar would be the major delivery centre and Hapur, Kolhapur and Jehangirabad additional delivery centres.

(This article was published in the Business Line print edition dated January 6, 2005)
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