The Hindu Business Line : NCDEX plans spot trading for chillies in AP

Hyderabad, Aug. 1 After opening commodity-specific trading platforms at Bikaner (chana) and Jaipur (mustard), the National Commodity and Derivatives Exchange Ltd (NCDEX) is planning to set up spot trading platforms for chillies in Guntur and Duggirala (Andhra Pradesh).

The commodities exchange is also planning multiple spot trading centres for cotton and soya. “We will start with at least one centre before opening more such centres,” said Mr R. Ramaseshan, Managing Director and Chief Executive Officer, NCDEX.

He, however, said that the response to the mustard and chana-specific trading platforms was not encouraging.

Addressing a press conference here on Saturday, Mr Ramaseshan said these commodity-specific trading centres, however, faced shipment issues as the traders were confronted with the traditional system.

“We are trying to bring awareness. Also, there is a possibility of third players to ensure smooth deliveries. The market is yet to reach a critical point where third party players could offer services,” he said.

Mr Ramaseshan was here in connection with an awareness programme on commodity futures for stock exchange members and commodity brokers.

New focus areas

The exchange, which focused mostly in the western region, has decided to tap the Southern and Eastern markets. “These are potential areas to spread our operations,” he said.

More Stories on : Commodity Exchanges | Spices & Condiments

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

Stories in this Section
NCDEX plans spot trading for chillies in AP

Mixed trend in spot rubber

Palm oil may test resistance, drop

Cut-off date for crop insurance extended