MCX launches futures contracts in 10 farm commodities

The country's leading commodity bourse, MCX, which is struggling to increase volumes in agri-futures, today launched futures contracts in 10 farm commodities, including crude palm oil, mentha oil and potato.

Futures contracts in cashew kernel, coriander, crude palm oil, jeera, maize, mentha oil, potato, red chilli, rubber and sesame seed will be effective from today, the MCX said in a circular.

The agri-futures contracts will mature in June, July and August, it said.

According to the circular, cashew kernel, jeera, maize, red chilli and sesame seed contracts will expire in June. Crude palm oil and potato both Agra and Tarkeshwar variety will mature in July, while coriander, mentha oil and rubber contracts in August.

MCX, which has an indomitable space in energy and metal futures, is presently grappling with the problem of poor volumes in agricultural contracts. Of 26 farm commodities traded on the MCX platform, investors' participation in 17 farm commodities having delivery in March, April, May and June remained thin, the data maintained by the exchange showed.