MCX Wheat clocks Rs 13.19 cr on relaunch day
Published on: May 22, 2009 at 11:35
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MUMBAI: Wheat Futures that was re-introduced at MCX (Multi Commodity Exchange of India Ltd.) has witnessed a record turnover of Rs 33.19 cr on Thursday, the first day of the launch of six contracts.
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At the end of first trading session, the contract witnessed total volume of 28,840 MT valuing at Rs. 33.19 crores with open interest as 6280 MT. Participation was seen from 225 participants across India. The first trade was executed at Rs. 1202 per 100 kgs that was the highest price for the day and closed at Rs. 1144 with lowest price quoted as Rs. 1140 per 100 kgs. The participation was seen from more than 225 participants across India. The trading unit for the contract is 10 MT with price quote as ex- Delhi.
“The launch of the compulsory delivery contracts underscores MCX’s penchant for rolling out contracts that are tailor-made to suit the industry’s requirements. We are confident that these contracts will be of significant benefit to traders, farmers and flour mill owners with good open interest to meet the hedging need of the industry. We estimate good participation from producers, processors and exporters among others,” said Mr. Joseph Massey, MD & CEO, MCX.
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In India, gold is considered as one of the prestigious instruments of investment among the household consumers. Small household units are now becoming potential investors for gold from the key consumers. The demand for consumption purpose is no longer the main driver of demand for the yellow metal, but the systematic investments in retail gold investment options is the latest crush among the small investors in the country. 
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