NSE NSE launches its first agricultural commodity futures contract
Mumbai: National Stock Exchange of India Ltd (NSE), India’s leading stock exchange, launched its first agricultural commodity futures contract on crude degummed soybean oil (CDSO Futures) on Dec 1. The CDSO Futures contract is a monthly expiry futures contract with a trading lot size of 10 metric ton (MT) and price basis as Kandla.
The first trade was executed by ‘EAST INDIA SECURITIES LTD’ and ‘M/s Budge Budge Refineries Ltd’, one of the premier edible oil refiners. Day one recorded trading of more than 4200 tonnes with turnover exceeding Rs 44.67 crores indicating positive interest of market participants in the CDSO Futures.
India being the largest importer of edible oils in the world, the CDSO futures contracts shall be a perfect instrument to hedge the price risk for the Soybean Oils processing and allied industries, said NSE in a press release.
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