Financial Daily from THE HINDU group of publications
Tuesday, Aug 24, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 24, 2004 |
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Agri-Biz & Commodities
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Commodity Exchanges NCDEX launches soyameal contract Our Bureau
Mumbai , Aug. 23 NATIONAL Multi-commodity & Derivatives Exchange Ltd (NCDEX) has launched soyameal contract. Mr Rajesh Agarwal, Chairman of Soyabean Processor's Association of India (SOPA) and Mr O.P. Goel, Chairman of SOPA Foundation, launched the soyameal futures at a function here. Mr Ramesh Kotecha, General Manager of Concordia Agri Trading PTE Ltd, put through the first deal. "This is a very important landmark for both the industry and NCDEX as this contract has very high potential given the importance of this product," said Mr Agarwal. "We are happy that NCDEX has launched this product and we see this providing additional opportunities to the industry," added Mr Goel. "The launch of the soyameal contract would further deepen the value chain involving soyabean, soyaoil and soyameal and go a long way in providing more opportunities for all participants," said Mr Narendra Gupta, Chief Business Officer of NCDEX. There were close to 10,000 trades put through on the exchange for all the commodities with about 220 members participating in trading today. Earlier on August 21, NCDEX recorded its highest volume of Rs 230 crore (one-way), which is the highest on any Saturday.
More Stories on : Commodity Exchanges
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