Last Updated :
22 December 2008 at 15:15 IST
NSEL facilitates cotton trading platform
Commodity Online MUMBAI: National Spot Exchange Ltd. (NSEL) has launched NAFED cotton trading platform in a view to boost availability of raw materials.
The textile mills have been reeling under the scarce of raw materials. According to the Chief Executive of the Exchange, Anajani Sinha, the move would provide transparent platform to traders, growers and textiles mills to hedge their price risk.
NSEL has designed 11 contracts for cotton, deliverable at specific locations in Maharashtra region and the minimum lot size is 100 Bales.
NSEL was founded by a consortium including Financial Technologies India Ltd and National Agricultural Cooperative Marketing Federation of India (NAFED).
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