NMCE to start wheat futures from May 29
Published on: May 25, 2009 at 16:50
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NEW DELHI : After MCX and NCDEX, its is the turn of National Multi Commodity Exchange (NMCE) to launch futures trading in wheat.
Speaking to reporters here, NMCE Chief Operating Officer Anil Mishra said” We are mostly likely to launch wheat futures contracts on May 29,"
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NMCE will be the third national bourse to resume futures trading in wheat in the country. The other two exchanges -- Multi Commodity Exchange (MCX) and National Commodity and Derivatives Exchange (NCDEX) started offering wheat futures contracts from May 20, after a gap of two-and-half years.
Mishra further said, "Since wheat futures are permitted for trade after more than two years, we want to make it a big event. We are yet to finalize guests for the event." NMCE said it would offer wheat contracts from June to December with New Delhi as main delivery centre.
On the first day of the trading session, over 52,000 tones of wheat was traded on the MCX and NCDEX counters despite comfortable wheat supply in the domestic market.
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