Multi-commodity exchange launches new contracts

Ahmedabad, May 9 (IANS) The National Multi-Commodity Exchange (NMCE) has launched new series for futures contract in guar seed and turmeric from Saturday.

The new series in guar seed and turmeric - called September-2008 contracts - will expire Sept 20, while the delivery period for each will begin three days prior to that Sept 17.

The basis delivery centre for guar seed is at Deesa (Gujarat) and that for turmeric is at Central Warehousing Corp (CWC) warehouse at Erode (Tamil Nadu) and additional delivery centre at Nizamabad (Andhra Pradesh).

At present, the NMCE is running futures contracts in about 100 series in 24 commodities, notably pepper, cardamom, raw jute, sacking, copra, isabgol, menthol crystal, non-ferrous metals, castor seed, other oilseeds and their derivatives.