The Hindu Business Line : NCDEX to launch rice futures in Jan

It has sought approval from the Forward Markets Commission, said Mr P. H. Ravikumar, Managing Director and CEO, NCDEX. Thereafter, the multi-commodity exchange plans to launch futures in cumin seeds, chillies, cashew, jaggery and steel.

This will be followed by some of the base metals — copper, zinc and aluminium, he said on the sidelines of a conference on agriculture organised by the Confederation of Indian Industry. However, the exchange's priority will be to launch futures in all agricultural commodities.

In the case of energy futures, NCDEX is waiting for the regulatory regime to be set up. "The regulator has to be in place before we launch energy futures," Mr Ravikumar said. He said the exchange's performance has been better than expected. Daily volumes on an average are around Rs 1,800-2,000 crore.

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