NMCE to launch 52 new contracts today

The National Multi-Commodity Exchange (NMCE), the country's third largest commodity exchange, will launch 52 new futures contracts for different commodities on Wednesday.

The new contracts will be launched for gold, silver, cardamom, pepper, rubber, gur, guargum, isabgul, cumin seed, cotton seed, linseed, sesame, mustard/rapeseed, groundnut, soybean, coconut cake, their oils and cakes, crude palm oil, RBD palmolein, rice bran, moong, masoor and sugar.

The trading cycle of most of these commodities will expire on August 14, while 2007 rubber and sack contracts will expire on September 14, castor seed (10 mt) on October 15, pepper, Arabica and Robusta on November 15 and coconut cake and groundnut and sesame cakes contracts will expire on July 14 and August 14, respectively.

Three pepper and three rubber contracts, which will also be launched on Wednesday, will also expire between May 16 and August 14. The NMCE provides an electronic platform for trade in other commodities such as base metals, gold, chana, soyoil and guarseed.

The delivery centres for different commodities will be at the specified warehouses of the Central Warehousing Corporation (CWC).

The commodity exchange is promoted by CWC, Punjab National Bank, Nafed, Gujarat Agro Industries Corporation, Gujarat State Agriculture Produce Marketing Board, National Institute of Agricultural Marketing and Neptune Overseas.