NCDEX modifies soyabean contracts

MUMBAI: The National Commodity and Derivatives Exchange (NCDEX) has modified the contract specifications of soyabean which would be applicable for all contracts expiring in June 2007 and thereafter.

The tick size for the new contracts will be 50 paise as against 5 paise in the existing specifications, the exchange said in a circular. The exchange has also added additional delivery centres at Akola in Maharashtra and Itarsi and Sagar in Madhya Pradesh apart from existing two delivery centres at Nagpur and Kota.

In terms of quality specifications it will be foreign matter 2% as against sand/silica 2%. The contracts currently running would continue to be traded with the existing specifications, it said.