NCDEX to launch spot trading in Guar and Castor seed

JAIPUR: Online commodity exchange NCDEX has drawn up plans to start spot trading in Guar seed and Castor seed in this Kharif season. NCDEX managing director and CEO R Ramaseshan, in an exclusive chat, told ET that NCDEX is planning to promote spot trading by launching all major commodities in spot market. ���At present, NCDEX is spot trading in mustard and chana commodities with delivery centers at Bikaner and Sri Ganganagar. Now we would widen our NSPOT base by covering more key trading centers including Jaipur, Jodhpur, Kota and Alwar,��� he said.

NCDEX is also planning to strengthen its less traded commodities by reshuffling delivery locations and reviewing specifications of commodities. ���We are planning to bring all the commodities on spot trading. But before that we need to change their specifications to make them actively traded commodities in the futures segment. Commodities like Maize, Cotton, Coriander and Palm oil has great potential but being under traded due to high specifications. Like for Maize specifications are set for trading edible corn but most of the maize is traded for non-edible and fodder.

If we bring down the specifications, maize will be traded actively on future and can easily be introduced at spot trading as well,��� said NCDEX chief business officer V. Vijay Kumar. With around 850 members and a client base of 500,000, NCDEX facilitates trading in an array of 59 commodities ��� 39 agricultural, 6 precious metals, 3 polymer, 4 energy products, 6 metals and one environment (CER).