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Leading stock exchange BSE on Monday launched the almond futures contract after receiving regulatory approval from capital markets watchdog SEBI.
This is the world’s only available derivatives contract for trading in almonds, BSE said in a statement.
The contract trading unit is 1,000 kg and the maximum order size is 20,000 kg, delivery units are 1,000 kg deliverable at Navi Mumbai. The almond contracts will take the reference rate of Navi Mumbai Agricultural Produce Market Committee (APMC).
For the first time, almonds will be priced on a forward looking, market-driven basis based on the BSE almond futures, offering stakeholders greater transparency and certainty. “The launch of this unique and innovative contract marks momentous progress within the global agri commodity market,” the exchange’s the MD and CEO Ashish Kumar Chauhan said.
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