NCDEX to trade in gur, maize

National Commodities and Derivatives Exchange of India (NCDEX) has added two more agri-commodities to its futures trading basket - maize and gur.

NCDEX now offers trading in 23 agriculture commodities with more products to be added on soon.

By introducing gur on its platform, NCDEX will come close to sugarcane growers and unorganised gur production sector in the country.

Gur futures trading has been available on regional exchanges but there were no delivery in futures trading on these exchanges for the last 10 years, alleged Pankaj Aggarwal, general secretary of the Gur and Khandsari Merchant Association at Hapur.

"NCDEX has a well placed demat delivery system that would encourage more and more genuine traders to participate in trading," added Aggarwal.

Gur producers and traders in the unorganised sector could expect to benefit from the quality benchmarking to be introduced by NCDEX in its gur futures contract.

The contract in maize would for the months of February, March and April.

The quality available for trading in maize would be yellow or red maize, with the unit of trading and delivery both being 50 tonne.

NCDEX has assigned six warehouses for physical delivery, the major centre being Nizamabad and Davangere, Karimnagar, Nimbheda, Ratlam and Bahraich being additional centres.

Gur contracts will be available for February, March and April, with unit of trading and delivery being 10 tonne.

NCDEX has assigned four warehouses for physical delivery at Muzaffarnagar, Hapur, Kolhapur and Jehangirabad. Both the commodities would have seller's option at the time of delivery.