NCDEX Introduces Industry Friendly Hybrid Chilli– Teja Contract

Contract Specifications:

• Ticker symbol- CHILLI

• Trading & Delivery unit– 5 MT

• Basis centre- Guntur

• Tick Size – Rs. 2

• Minimum Initial Margin- 5%

• Additional Delivery center- Khammam

• Delivery Mechanism – only through Comtrack 

NCDEX, the leading commodity exchange in India, has modified the contract specifications of Chilli Teja futures contract for the benefit of major consumers of Chilli with Guntur as the basis centre. The revised contract will be available for trading from 03 November, 2014.

The contract has been modified based on the feedback received from market participants. Delivery in the contract will now be permitted only through COMTRACK^® system. The COMTRACK^® system enables the depositors to track their commodity deposits online.

Guntur is a major trading centre for Chilli. Khammam will be additional delivery center. Both Guntur and Khammam have adequate cold storage facility for Chilli.

Speaking on the development, Mr. Samir Shah, MD & CEO, NCDEX said, “India is the largest producer, consumer and exporter of chilli in the world. It accounts for 20-30 % of the total spice exports from India which in value terms is about Rs. 400-500 Crore. Futures contracts in Chilli offered on the Exchange platform make available a transparent price discovery mechanism and risk mitigation tool for the market participants”.

Chilli is an important rabi crop in India grown during August–September and harvested during February–May. Around one million farmers from Andhra Pradesh, Madhya Pradesh, Karnataka, Tamil Nadu and other states are engaged in the production of this crop.

ABOUT NCDEX:

As India’s leading online exchange, NCDEX offers the widest range of benchmark products across agriculture, metals and precious metals. NCDEX brings buyers and sellers together through its electronic trading platform. It enjoys the distinction of being the only exchange in the country promoted by national-level institutions. The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience, trust, nation-wide reach, technology and risk management skills.

For further details contact:-

Shalaka Kagathra / Kalpesh Sheth,

Corporate Communications, NCDEX

9820572798/ 9820305936

Delna Irani/ Minakshi Mishra

Adfactors PR

022-67574322