NEW DELHI, June 28: BSE, Asia’s oldest exchange, on Friday commenced commodity derivatives trading in turmeric with a lot size of 10 metric tonnes.
The launch of turmeric futures was done in the Turmeric City of Maharashtra-Sangli. The event witnessed immense support from the turmeric traders of the city.
The exchange has fixed a trading and delivery of 10 MT. The basic delivery centre for the turmeric contracts is Nizamabad with additional delivery centres at Sangli, Erode, and Basmat with location wise premium/discount as announced by the Exchange.
BSE has tied up with various agricultural premier associations and warehouse service providers in India for the growth and development of commodity derivatives markets in the agricultural complex. BSE had also entered into a licensing agreement with the London Metal Exchange and associated with Bombay Metal Exchange for base metal contracts, besides tying up with the Rajkot Commodity Exchange, Federation of Indian Spice Stakeholders, Soybean Processors Association of India and Cotton Association of India to launch agri commodities.
(UNI)
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