NCDEX, IPGA ink pact to raise effectiveness of trade tools

The exchange, with this will take an initiative to promote the pulses production and trade in the country

NCDEX today signed an agreement with the India Pulses and Grains Association (IPGA) to work in collaboration to increase the effectiveness of trade tools, including lifting of trading restrictions through dialogue with regulator and policymakers.

"We have signed an MoU with IPGA to work together for increasing effectiveness of trade tools. We will closely work and find out improved and industry friendly solutions through continuous dialogue with regulator and policymakers," NCDEX Managing Director and CEO Samir Shah told reporters here.

With this, once again NCDEX will take an initiative to promote the pulses production and trade in the country, he added.

Even after being the largest producer as well as importer and consumer of pulses, India is yet to achieve self sufficiency in it.

"Hence, this co-ordinated effort will help us achieve success in developing a market for pulses and grains," Shah said.

The exchange is also relaunching contracts of urad, rice and tur in the near future, after it gets nod from commodity regulator Forward Markets Commission (FMC).

NCDEX is also looking at launching contracts in bajra and new variety of chilli after getting FMC approval in three months period, Shah said.

"Efforts would also be made to educate stakeholders about the benefits of transparent, online spot platform of the NSPOT," he said.

On relaunching of pepper contract, Shah said FMC had no problem with launching of pepper contract, "but we want to first resolve the issue of contamination in pepper contract pending in the Kerala High Court".

NCDEX and IPGA joined hands to facilitate and recommend measures to increase trade efficiencies and price discovery in pulses and grains, with the vision to put India on the world map of pulses and grains.