• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, May 12 MCX has launched futures trading in almond (non-pariel) for September delivery.

The September contract opened at Rs 318 a kg and closed at the day’s high of Rs 330.75 a kg. Daily price fluctuation limit would be three per cent.

At the end of first trading session, the contract witnessed a total volume of 5,13,500 kg valued at Rs 16.89 crore, with a open interest of 64,000 kg.

The MCX Managing Director, Mr Joseph Massey, said the country imports about 70 per cent of its requirement and the total trade is valued at Rs 2,000 crore.

“Being an import commodity, trading on our platform will help traders and importers mitigate the currency volatility also,” he added.

The trading unit of the contract will be 500 kg and the maximum order size will be 10,000 kg. A client and member can trade up to 120 tonnes and 360 tonnes respectively. A month before the expiry of the contract, client can maximum trade 40 tonnes and member 120 tonnes, a MCX release said.

Futures contract for October, November and December delivery are also available for trading, MCX said.

More Stories on : Commodity Exchanges | Derivatives Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line