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NCDEX - National Commodity & Derivative Exchange L : NCDEX :PR - 3638 - NCDEX launches Cotton seed futures contract

01/01/2014 | 07:59am EST
Press Release NCDEX launches Cotton seed futures contract

The only exchange in India which offers Cotton seed futures contract

Contract specifications:

Contract - Industrial grade Cotton seed
Basis centre - Akola
Additional delivery centers - Yavatmal, Aurangabad and Rajkot
Tick size - Re.1/- Lot size - 10 MT
Contracts available for trade - February 2014 & March 2014

Mumbai, January 1, 2014: National Commodities & Derivatives Exchange Ltd, (NCDEX), the leading commodity exchange of India today announced launch of its Cotton seed futures contract. This contract will be available for trade from January 2, 2014.

The contract is designed to help crushers of cotton seed, ginners and various other value chain participants to hedge their risk.

At the launch Mr. Samir Shah, MD & CEO, NCDEX said "The launch of Cotton seed futures contract marks a further initiative from NCDEX for the benefit of the market participants. India is one of the major cotton seed producing countries in the world. This contract is ideal for price risk management needs of the ginners, oil millers, stockists, etc. We expect NCDEX cotton seed futures contract to add tremendous value to the existing cotton business stakeholders.

China, India, USA, Pakistan and Brazil are major cotton seed producing countries in the world. The total world production of cotton seed for the current year is

44.49 million MT out of which India produces 10.6 million MT which is contributed mainly by Gujarat, Maharashtra, Andhra Pradesh, Punjab, Haryana and Madhya Pradesh. The production of cotton seed in India has increased in the last 5 years. In India, cotton seed is mostly used as a raw material to produce cotton seed oil cake and cotton oil, both of which have very good domestic market.

ABOUT NCDEX:

As India's leading online commodity exchange, NCDEX offers the widest range of benchmark products across agriculture, metals and precious metals. NCDEX brings buyers and sellers together through its electronic trading platform. It enjoys the distinction of being the only exchange in the country promoted by national level institutions. The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience, trust, nationwide reach, technology and risk management skills.

For further details, please contact:

Shalaka Kagathra / Kalpesh Sheth
NCDEX
Mobile: 9820572798/ 9820305936
Delna Irani/ Minakshi Mishra
Adfactors PR
Mobile: 98206 60467/ 9833320866

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ę Publicnow 2014
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