NSE to start spot trading in caster seed, cummins shortly

National Spot Exchange will start spot trading in caster seed and cummins over the next couple of weeks, a top Exchange official said here.

"We are targeting to start spot trading in caster seed and cummins (zeera) by the month end," NSE Managing Director and Chief Executive Officer Anjani Sinha told PTI on the sidelines of the 'Pulses Meet 2008' here today.

"Currently we are offering spot trading in seven commodities from our platform and we have plans to add a few more over the next two months," he said.

"The Exchange is contemplating to launch spot trading from West Bengal."

"Yellow peas and Chana are the other commodities, we plan to launch shortly," Sinha said.

Earlier, NSE launched spot trading in imported pulses contract here.

To a question on whether he was expecting any decline in the prices of pulses in the wake of spot trading, Sinha said, "prices could come down as in such trading there is no cost of intermediation."

Almost 65 per cent of the farmers' produce cost goes into intermediation because of the long distribution chain and only 35 per cent goes to the farmer, he said.