The National artefact and Derivatives Exchange (NCDEX) is geared up to launch the ‘guar seed options’ contract on the occasion of Makar Sankranti to be survived 14 January.
The online commodities market had received the Securities and Exchange Board of India’s approval for the launch nearly four months past, however waited for associate degree auspicious occasion for its official launch.
With this, leguminous plant would be the second artefact, after gold, during which choices contracts will be listed. The country’s largest artefact derivatives commercialism platform, Multi commodities market (MCX), had launched ‘gold options’ go for Oct this year.
The leguminous plant seed choices contract can begin a replacement era of electronic commercialism of agricultural commodities. in step with traders, choices commercialism in agricultural commodities would bring substantial volume to the exchange platform, with raised participation from tiny farmers.
“NCDEX leguminous plant seed choices are a vital hedging tool which will convince be a game changer for farmers. staring at its importance for agri-commodity markets, we have a tendency to wished to pick a date which can have an explicit significance for the farming community of our country.
we are going to be launching our agri-commodity choices on the auspicious occasion of Makar Sankranti, a key harvest pageant, and can dedicate this new hedging tool to farmers of India,” associate degree NCDEX voice told Business commonplace.
It would be attention-grabbing to visualize however traders answer the leguminous plant seed choices as gold choices didn't attract adequate volume on MCX, that prompted India’s largest commodities market to hunt regulative approval for a liquidity sweetening theme.
After achieving the Rs 397 large integer of daily average turnover in Oct, 1st month of the launch, gold choices contract witnessed a pointy decline in traders’ interest. The daily average turnover in gold choices declined to Rs 61 large integer in Gregorian calendar month (by 21st).
Analysts, however, aforesaid leguminous plant seed choices would attract an exceptional volume on NCDEX.
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