Coffee Futures Kick-Off In Third Week

An agreement between Coffee Futures Exchange of India (Cofei) Ltd and Bangalore Stock Exchange (BgSE) on utilising the latters facilities for Indias first domestic coffee futures exchange is likely to be signed in a couple of days.

This will pave the way for commencement of coffee futures trade during the third week this month. We (Cofei) and BgSE will be entering into an agreement in a day or two.

The stock exchange will have to decide on our requirement and we have already made up our mind on utilising the bourses facilities, Cofei chairman Ashwin Shah told PTI over the phone from Bangalore.

During talks with the Bangalore bourse on Monday, officials of Cofei, incorporated to set up the coffee futures exchange, had told the stock exchange officials their requirement and the latter were expected to get back to them by Wednesday, he said.

Once the agreement was signed, decks will be cleared for commencement of trading at the exchange during the third week of this month.