Commodity Online MUMBAI: In its bid to increase its presence in agri-commodities, the Multi Commodity Exchange (MCX) has decided to launch all set to launch coriander Futures from July 28.
According to the MCX, the whole machine-cleaned variety of Badami coriander will be delivered at ex-Kota mandi with base price quoted in rupees per quintal inclusive of all taxes and expenses but excluding value-added tax (VAT).
Initially, trading will be available for three months for delivery in September, October and November with a lot size of 10 tonnes and margins of 7 per cent.
Daily price variation and tick size is fixed at 6 per cent and Re 1 respectively. Open position limit for clients and members is fixed at 1,000 tonnes and 3,000 tonnes. It is 12-month compulsory delivery contract.
India is the largest producer of this four-month rabi crop. The sowing begins in October while harvesting begins early February.
Rajasthan, Madhya Pradesh, Andhra Pradesh and Bihar are the major producing states of coriander.
