The National Commodity and Derivatives Exchange (NCDEX), the country’s second largest commodities futures trading platform, has launched agri index - Dhaanya here today with the aim to provide a reliable benchmark for the exchange traded agri-commodities in India.
Dhaanya, to be known as prosperity in future, reflects 10 most liquid agri commodities on the exchange platform. It basically has two components. Half of the weightage of every commodity demonstrates total production in the country while other half represents the liquidity factor on exchange platform. Weightage of each commodity will vary depending upon volume of trade on exchange platform and national economic importance. “We have designed the index in such a way that it can accommodate better performing commodities and kick least performing ones out. The evaluation exercise will be done in three months,” said R Ramaseshan, MD and CEO of NCDEX.
Currently, commodities that have found representations in the index include: wheat (27.63 per cent), guar (16.91 per cent), chana (12.78 per cent), rapeseed / mustardseed (11.09 per cent), soybean (10.23 per cent), turmeric (6.88 per cent), pepper (4.69 per cent), jeera (3.86 per cent), gur (3.34 per cent) and cotton cake (2.56 per cent).
