NCDEX declares cottonseed oilcake safe

The National Commodity & Derivatives Exchange (NCDEX) has found nothing wrong with regard to the quality of cottonseed oilcake (Cocud) matching the contract specifications.

Announcing the findings of an audit of warehouses registered with it, it stated stocks of Cocud were in conformity with the latter. The quality audit was prompted by fear of adulteration with rice bran.

The test was on 5,500 tonnes deposited at warehouses at Akola (Maharashtra) and Kadi (Gujarat), at First Source Lab, Hyderabad. These quality audits for Cocud deposits have been on from December 2015. Sampling was done by NCDEX officials by randomly selecting the lots to be audited from stocks accepted by warehouse service providers (WSPs). These samples were coded to hide the WSP's identity and then sent to empanelled assayers.

“The trust of our participants and the safety and quality of our deposits is our foremost priority,” said Samir Shah, managing director.

Cocud deposits are being accepted at approved warehouses being managed by six WSPs empanelled by the exchange.