NCDEX starts futures trading in polymers

NEW DELHI: Agriculture is going to be the key driver for growth of polymers in next three to five years, said Reliance Industries chairman Mukesh Ambani at the launch of NCDEX futures trading in polymers on Monday.

NCDEX MD and CEO P H Ravikumar said: "Currently polymer producers, processors and distributors/traders are highly vulnerable to volatility in raw materials prices and trading on NCDEX will lead to better price discovery and help market participants mitigate risks arising out of price volatility."

The exchange launched trading in three polymer products-polypropylene (PP), Linear Low Density Polyethylene (LLDPE) and Polyvinyl Chloride (PVC). The exchange expects to initially clock a turnover of Rs 100 crore in these contracts, said NCDEX VP Products Sanvali Kaushik.