NCDEX cotton contract jumps 338 pc in March quarter

National Commodity & Derivatives Exchange (NCDEX) today said its cotton contract has performed well registering a jump of 338 per cent at Rs 1,376.71 crore for the quarter till March 21, 2016.
"Our cotton contract has performed well and traded value jumped by 338 per cent at 1,376.71 crore for the quarter till March 21, 2016 as against Rs 313.99 crore in the quarter ended December 2015," NCDEX said in a statement here.
"The contract also witnessed increased participation on the exchange; with 224 per cent increase at 24,820 of average daily traded quantity on QoQ basis," it added.
The contract has also witnessed 75,072 units of open interest position, a jump of 483 per cent on QoQ basis.

The exchange said it has helped raise the bar on quality of cotton bales traded in futures.
"Increased participation in NCDEX cotton is very encouraging. We are committed to offer a safe, credible and transparent marketplace. We have been at the forefront of unleashing a slew of warehousing reforms aimed at giving participants a superior user experience and it is indeed heartening to see this growing confidence." NCDEX MD & CEO Samir Shah said.
NCDEX introduced the cotton 29 mm contract in September last year, with contract specifications, which are premium quality.