The National Commodities and Derivatives Exchange (NCDEX) has accredited five warehouses in Gujarat for deliveries and expects that their capacities would be increased further, an official said on Friday.
The five warehouses, the commodities they handle and their capacities are: castorseed at Deesa and Patan (3.50 lakh tonnes), jeera at Unjha (40,000 tonnes), cottonseed oilcake at Kadi (2.30 lakh tonnes), wheat at Rajkot (20,000 tonnes), and cotton at Surendranagar (3,000 tonnes ), M.K. Anand Kumar, Chief Corporate Services, NCDEX, said here.
He said private sector is setting up more warehouses and capacities could be increased.
In the oilseeds group on the exchange, castor seed futures contract has emerged as a perfect hedging tool for all the value chain participants of the commodities.
The open interest in this contract has now reached the level of 1.80 lakh tonnes with an average open interest of 1.27 lakh tonnes in 2012-13, until January this year, he added.
Kumar said with the ongoing mandi modernisation across various States, the futures market is expected to get a boost.
Source: BL
Posts
No comments:
Post a Comment