MCX records highest delivery of cardamom

MUMBAI: The multi Commodity Exchange of India recorded highest physical delivery of 140 quintals of cardamom in the just concluded November ‘06 contract. Prior to this, 138 quintals delivery was recorded in April ‘06 contract.

Cardamom contract is the third largest agri-commodity of MCX agri-basket, after refined soya oil and mentha oil contracts. Currently December ‘06, January ‘07, February and March ’07 contracts are available for trading on MCX.

The exchange has recently commenced futures trading in February and March 2007 contracts with its revised contract specifications. MCX has reduced the quantum of trading and delivery unit of Cardamom futures from 500 kg to 100 kg and the daily price range from 6% to 4%.

NCDEX launches retail bullion futures contracts

NCDEX on Tuesday launched its new gold (unit of trading: 100 grams) and silver (unit of trading: 5 kg) futures contracts in a bid to attract retail participation in futures trading in precious commodities. These contracts would be in addition to the existing gold (1 kg) and silver (30 kg) contracts that are traded on the exchange.

The exchange has launched the new gold and silver futures contracts as retail investors were finding investment in the existing contracts (gold - 1 kg and silver -30 kg) prohibitive.

Under the existing gold contract (1 kg) and silver (30 kg) contracts, a retail investor has to put in margin money equivalent to approximately 5% (at current prices: gold 5 % - 45,710; silver - 7 % - Rs. 40,000) of the contract value.