Last Updated : 26 September 2012 at 19:20 IST
MCX to launch new Cotton Seed Oil Cake contract
Source :MCX
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“The Kapasia Khalli contract with a tick size of 50 paise will ensure better liquidity. The base delivery centre of the contract is Rajkot, which is located in Gujarat, which accounts for 35% of Kapasia Khalli produced in the country. The additional delivery centres of the contract, Kadi and Akola, will attract a location premium discount of Rs. 20 and Rs. 30, respectively”.
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MUMBAI (Commodity Online): Multi Commodity Exchange of India Ltd (MCX) will offer future trading in a new contract - Cotton Seed Oil Cake or Kapasia Khalli from tomorrow onwards (September 27).
Cotton Seed Oil Cake or Kapasia Khalli is the by-product which remains after oil from cotton seed. It is primarily used as cattle feed either directly or as an ingredient for production of compound cattle feed in large industrial units.
Shreekant Javalgekar, MD & CEO, MCX has said that “MCX’s contracts have always tried to meet the varied needs of all the stakeholders of a commodity’s value chain”.
Further he pointed that “The Kapasia Khalli contract with a tick size of 50 paise will ensure better liquidity. The base delivery centre of the contract is Rajkot, which is located in Gujarat, which accounts for 35% of Kapasia Khalli produced in the country. The additional delivery centres of the contract, Kadi and Akola, will attract a location premium discount of Rs. 20 and Rs. 30, respectively”.
Kapasia Khalli is the largest consumed oil cake in India. Almost the entire production of Kapasia Khalli is consumed domestically with the recent years witnessing insignificant imports or exports of the commodity.
The trading unit of the Kapasia Khalli contract is 10 MT and its tick size is 50 Paise per 100 kg (inclusive of sales tax/VAT). The deliverable contract has Rajkot (Gujarat) as the base delivery centre with Kadi (Gujarat) and Akola (Maharashtra) as additional delivery centres.
