NCDEX relaunches crude palm oil futures

MUMBAI: Leading agri-commodity bourse NCDEX today re-launched crude palm oil (CPO) futures contract.

To begin with, the exchange has launched four CPO contracts. Each contract will expire in December 2013, January, February and March of 2014, NCDEX said in a statement.

The contracts are made available for trading from today onwards. An investor can trade in a CPO futures on the exchange platform up to 10 tonnes and take delivery of the commodity from Kandla in Gujarat, it said.

Speaking on the launch, NCDEX Managing Director In-Charge Samir Shah said: "With the relaunch of the NCDEX crude palm oil contract, we are offering a single platform to the edible oil industry to hedge its price risk on all edible oils".

Palm oil is now the major edible oil consumed in India with market share of 46 per cent. India consumes about 90-92 lakh tonnes of palm oil every year, he said.

The re-launch of CPO completes the basket of oil and oilseeds futures on NCDEX platform, the exchange added.