NCDEX modifies quality specification in wheat contracts

Leading agri-commodity bourse NCDEX has modified the quality specification in wheat futures contracts that would expire in April 2014 and thereafter.

"Trading and clearing members are requested to note that the exchange, with the approval of regulator FMC, has modified the contract specification in wheat futures contracts expiring in April 2014 and thereafter," the exchange circular said.

The quality specification for wheat has been changed to include a limit of ergot affected grains not more than 0.05% by weight, it said.

The wheat contract expiring in April next year is available for trading from today onwards. Additional contracts for later months' expiry will be launched subsequently.

At present, wheat futures contracts expiring in December 2013, January 2014, February 2014 and March 2014 are available for trading and would continue to be traded as per existing contract specifications, the exchange added.

NCDEX offers an electronic trading platform for futures trading in agriculture and other commodities.

At present, sowing of wheat by farmers in India, the world's second biggest grower, is in full swing. Last year, the country had harvested 92.46 million tonnes of the grain.