Ahmedabad-based National Multi-Commodity Exchange of India (NMCE), the third-largest commodities exchange in the country, will launch futures trading in coffee robusta estate pounded bulk from Tuesday, Chief Executive Officer Anil Mishra said on Friday.
“We have replaced the coffee robusta cherry - AB contract with robusta EP bulk futures, which is the most produced variety in the country, and has been chosen as per industry requirements,” Mishra said.
The contract will be inaugurated by Forward Markets Commission Chairman B C Khatua at Hotel Capitol in Bangalore. The exchange will begin trading in November and January expiry contracts from Tuesday.
Kushalnagar in Karnataka is the main centre for the contract, with Chikmagalur, Hassan and Kalpetta as additional delivery centres. It is a compulsory delivery contract, and tick size is 50 paise. The exchange has also received permission to extended trading time in the contract till late evening due to linkages with similar contracts trading on global exchanges.
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