Ace to launch futures trading in sugar from Monday

MUMBAI: Kotak Group promoted commodity exchange Ace Derivatives and Commodity Exchange today said it will launch futures trading in sugar from early next week.

Ace will initially launch four contracts - January, February, March and April 2011, from December 27, the exchange said in a statement here.

The Forward Markets Commission had given a nod to commodity exchanges to re-launch future trading in sugar after a ban of more than 19 months.

"We are pleased to launch the much awaited sugar contract. This contract will provide an effective hedging platform, and will be useful for Sugar traders, brokers, millers and bulk consumers," Ace Derivatives and Commodity Exchange CEO Dilip Bhatia said.