AHMEDABAD (Commodity Online): After the successful start in the futures trading in bullion and metals, Indian Commodity Exchange (ICEX), a newly launched commodity bourse in India will focus futures trading in agriculture commodities in coming months.

Hinting at the possible change in the focus of the exchange, Ajit Mittal, Managing Director and Chief Executive Officer told Commodity Online that the exchange would look to add more products to its agro-commodities’ portfolio. “Currently, we are offering futures trade in refined soya-oil and guar seed. But we are considering a couple of spices including turmeric, rapeseed and mustard seed to add to our kitty,” Mittal told Commodity Online.

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The exchange, which has started its operations on 27th November 2009, has achieved considerable volumes in futures trade in gold and metals. However, due to logistical constraints with regard to delivery, the exchange has remained low on offering agro-commodities. “Once we put our logistical set up in right motion, we will start focusing on agri-commodities in a major way,” Mittal said.

The exchange, fourth in India after MCX, NCDEX and NMCE has so far achieved Rs.1500 crore worth of daily turnover, of which 90% came from bullion, metals and energy sector. The exchange is jointly promoted by Indiabulls Financial Services Ltd (IBFSL) and public sector trader, MMTC Ltd with IBFSL holding 40% stake and 26% with MMTC.

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