Exporters, traders flock to NCDEX's forwards segment

KOLKATA: The forwards segment on National Commodity and Derivatives Exchange ( NCDEX) is showing increased participation from FPOs, (Farmer Producer Organisations) exporters, processors/manufacturers, traders and investors.

In November 2015, 4,871 MT of commodities were traded and delivered on the forwards platform of the exchange. Since inception, this segment has registered a volume of 31,310 MT with traded value of Rs. 137.64 crore.

Mr. Samir Shah, MD & CEO, NCDEX, said, “With exchange-traded forwards, NCDEX is extending the platform to the un-serviced segments of the agricultural value chain. Our mission is to bring national markets to the fingertips of farmers, mandi traders and buyers. This initiative is our attempt to bring real inclusiveness in the real economy”.

The futures segment on NCDEX has been growing steadily. The ADTV (average daily trading volume) for November 2015 was Rs. 3,598.20 crore, an increase of 11 per cent y-o-y. The average open interest for the month stood at Rs. 7,455 crore, showing an increase of 8.23 per cent y-o-y. The agri futures segment saw a total volume of Rs. 73,237.73 crore.

The top three traded commodities were castor seed (volume of Rs. 13,141.75 crore), soyabean (volume of Rs.10, 879.20 crore with 49.37 per cent y-o-y rise) and rapeseed mustard (Rs. 8,478.24 crore with 247.93 per cent y-o-y rise). The Exchange has seen delivery of 78,717 MT of commodities in this month.