After the launch of futures contracts in guargum and guarseed, ACE Derivatives and Commodity Exchange is now actively considering to add two more agricultural commodities to its product portfolio, a top exchange official informed here.
"With a view to expand our agri product portfolio, we are planning to add two more agri commodities. For this, we are actively considering agri commodities like cotton, jeera, yellow peas and pepper," said Dilip Bhatia, chief executive officer of the exchange.
"Our product development team is doing research for these commodities and two of them will be added to our agri commodities portfolio in the due course of time," added Bhatia.
The exchange currently offers eight agri commodities including rape mustard seed, soybean, castor seed, refined soy oil, chana, sugar, guargum and guarseed. The futures contracts for guargum and guarseed were launched earlier this month. The exchange expects to generate a daily turnover of Rs 150-200 crore from guargum and guarseed trading.
The exchange currently has a daily turnover of around Rs 600 crore. "We are hopeful to to increase our daily turnover to Rs 1000 crore by the end of the current financial year. Meanwhile, we may also launch contracts in base metals and energy products," said Bhatia. Kotak group promoted ACE Derivatives and Commodities Exchange started its operations in October 2010.
The exchange has over 300 members located across country, while it has plans to increase the membership to 450 members by the end of March 2012.