NCDEX unveils new deal for groundnut

KOLKATA: National Commodities & Derivatives Exchange Ltd (NCDEX), one of the leading commodity exchanges in the country, has launched on its futures trading platform a new contract for groundnut (in shell) on Friday. The new contract will be offered for groundnut originating from Bikaner in Rajasthan.

The new contract is scheduled to run along with the old futures contract for groundnut (in shell), based on delivery from Junagadh in Gujarat.

Introduction of one more futures contract for groundnut in shell (ex-Bikaner) will help commodity traders to hedge their risk in an efficient way and also lead to a better price discovery in the physical market, said NCDEX in a press statement.

Initially, the contract expiring in the months of August 2009, November 2009 and December 2009, will be available for trading on July 10, 2009. Currently, it offers futures trading in 57 commodities in agriculture, energy, metals, plastics and carbon credits.