The Hindu Business Line : NCDEX delivers 45 t of pepper

NATIONAL Commodity & Derivatives Exchange Ltd (NCDEX) has achieved another landmark in enabling physical delivery of agricultural commodities on their platform in demat form.

On the expiry of the August contract, 45 tonnes of pepper (Malabar garbled) was delivered in Kochi. The number of participants taking demat delivery was more than a dozen this time.

Last month also three commodities pepper, guar seed and gold were delivered in demat mode (July contract).

The Exchange has also introduced a mechanism whereby the constituents can settle their trade through their authorised agents. This would allow the traders to make or take delivery without their physical presence at the warehouse location. The members of NCDEX had earlier requested the Exchange to allow seeking the services of authorised agents so that they could buy or sell their produce at the best market price from any part of the country.

"NCDEX expects more and more of such deliveries to take place in the future. Demat delivery not only ensures the physical custody of the commodity with an independent warehouse but also the quality. Apart from reducing the handling cost in settlement of trades it also saves the time involved in the transfer of commodities," said Mr P.H. Ravi Kumar, MD & CEO NCDEX Ltd.

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