Commodities

BSE suspends trading in 3 agricultural contracts

Suresh P Iyengar Mumbai | Updated on January 07, 2020 Published on January 07, 2020

File photo   -  R Dinakaran

The exchange will only have gold, guarseed, cotton and turmeric contracts to trade on the platform.

Bombay Stock Exchange (BSE), the latest entrant in commodity derivatives space, has suspended futures trading in soyabean, castor seed and channa contracts due to lack of participants interest.

Last October, the exchange said it will introduce new futures contracts of chana, castor seed and soybean in commodity derivatives segment after the expiry of current series.

However, it modified the plans without assigning any reasons and discontinued trading in all the three contracts from January 6.

The three contracts of chana, soyabean and castor seed have been temporarily discontinued by BSE and the same contracts will be introduced in the next season of 2021, said BSE in a statement on Tuesday.

Following the suspension of trading, the exchange will only have gold, guarseed, cotton and turmeric contracts to trade on the platform.

The trading volumes even in these contracts are also very low.

Narinder Wadhwa, President, Commodity Participants Association of India said the exchange tried to attract some trading volumes from NCDEX by entering into the commodity space in a hurry but could achieve only limited success.

It attracted some volume in castor seed when there was crisis in NCDEX, but it did not last long as brokers lost interest in that particular commodity after burning their fingers, he added.

Published on January 07, 2020
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