Kotak Group-promoted ACE Commodity Exchange on Wednesday kick-started as the country’s fifth national commodity bourse with the launch of futures trading in five agricultural items — castor seed, chana, soybean, mustard seed and refined soyoil.
In the opening hour of the trade, futures trading was more active in the December contracts of all five agri-commodities, though the November 2010 and January 2011 contracts were also available for traders.
According to the exchange data, the castor seed contract for December-expiry opened at Rs 3,442 a quintal, chana at Rs 2,440 a quintal, soyabean at Rs 2,244 a quintal, mustard seed at Rs 573 for every 20 kg and refined soy oil at Rs 545.90 for every 10 kg.
At 11 hours, the trade volumes in the December contract of soybean was 144 tonnes, refined soy oil at 76 tonnes, chana at 59 tonnes, castor seed at 60 tonnes and mustard seed at 35 tonnes.
The exchange, which upgraded itself to a national exchange from a regional exchange (Ahmedabad Commodity Exchange), applied with the sector regulator Forward Markets Commission for permission to offer non-agricultural items like crude, gold and bullion.
