Today, National Spot Exchange (NSEL), India no.1 spot exchange announced the launch of compulsory delivery based Maheshkhoonh Maize contact. NSEL is the first spot exchange to launch its spot Maize contract in Bihar.
On the development, Mr Anjani Sinha, MD & CEO, NSEL said “The main objective of NSEL is to provide an effective method of spot price discovery in various commodities, in a transparent manner from across the country. I am confident our every step is working towards the objective.”
National Spot Exchange has designed 2 contracts for maize deliverable at specific locations in Maheshkhoont and Gulab bagh in Bihar. Maize contracts of T+0 and T+1 have been made available for trading. The minimum lot size is 1 bag of 60 kg (Max.200 bags). The contracts will result in compulsory delivery. The price of the contract will be made Ex – Warehouse basis - inclusive of Loading / unloading - sampling / Testing charges, Insurance and free warehousing while depositing / withdrawals of Commodities. Contract will be available for trade between 10:00 am to 4:00 pm from Monday to FridayWith this online delivery based contract at NSEL platform the farmers, traders, corporate, exporters etc. will benefit by hedging their price risk against fluctuating prices. The buyers located anywhere in the country will be able to negotiate electronically on a nation wide electronic platform, in a risk free manner. . NSEL has already started its operations in Maharashtra, Karnataka and Gujarat. As of date, NSEL offers spot trading in 10 commodities viz. Gold, Silver, Cotton, Castor seed, Guarseed, lemon Tur, Urad, Red Arecanet, Chana and now Maize. During the ensuing financial year, NSEL will be launching spot trading in a number of other products in various states of Kerala, Bihar, Tamilnadu, Madhya Pradesh, etc. NSEL has commenced its live operation on October 15, 2008 and since then, it has seen continuous surge in its volume. Within 6 months of its operations, NSEL has emerged as a coveted and leading spot exchange in the country with more than 95% market share. To augment its domestic strategic alliances, NSEL has signed various strategic Licensing Agreements / Memoranda of Understanding in Madhya Pradesh, Rajasthan leading producer companies, NAFED, IL &FS for bringing various stake holders into a common platform. About National Spot Exchange Limited National Spot Exchange Limited is a National level Institutionalized, Electronic, Transparent Spot Exchange. NSEL is poised to transform the rural economy by way of improving marketing efficiency for agricultural produce. It is a state-of the-art organized and structured market place providing facilities for risk fee and hassle free procurement and disposal of farm produce. It provides customized solutions to various problems faced by the farmers, traders, processors, exporters, importers, arbitrageurs, investors and the general mass relating to agricultural marketing, storage, warehouse receipt financing, etc.
On the development, Mr Anjani Sinha, MD & CEO, NSEL said “The main objective of NSEL is to provide an effective method of spot price discovery in various commodities, in a transparent manner from across the country. I am confident our every step is working towards the objective.”
National Spot Exchange has designed 2 contracts for maize deliverable at specific locations in Maheshkhoont and Gulab bagh in Bihar. Maize contracts of T+0 and T+1 have been made available for trading. The minimum lot size is 1 bag of 60 kg (Max.200 bags). The contracts will result in compulsory delivery. The price of the contract will be made Ex – Warehouse basis - inclusive of Loading / unloading - sampling / Testing charges, Insurance and free warehousing while depositing / withdrawals of Commodities. Contract will be available for trade between 10:00 am to 4:00 pm from Monday to FridayWith this online delivery based contract at NSEL platform the farmers, traders, corporate, exporters etc. will benefit by hedging their price risk against fluctuating prices. The buyers located anywhere in the country will be able to negotiate electronically on a nation wide electronic platform, in a risk free manner. . NSEL has already started its operations in Maharashtra, Karnataka and Gujarat. As of date, NSEL offers spot trading in 10 commodities viz. Gold, Silver, Cotton, Castor seed, Guarseed, lemon Tur, Urad, Red Arecanet, Chana and now Maize. During the ensuing financial year, NSEL will be launching spot trading in a number of other products in various states of Kerala, Bihar, Tamilnadu, Madhya Pradesh, etc. NSEL has commenced its live operation on October 15, 2008 and since then, it has seen continuous surge in its volume. Within 6 months of its operations, NSEL has emerged as a coveted and leading spot exchange in the country with more than 95% market share. To augment its domestic strategic alliances, NSEL has signed various strategic Licensing Agreements / Memoranda of Understanding in Madhya Pradesh, Rajasthan leading producer companies, NAFED, IL &FS for bringing various stake holders into a common platform. About National Spot Exchange Limited National Spot Exchange Limited is a National level Institutionalized, Electronic, Transparent Spot Exchange. NSEL is poised to transform the rural economy by way of improving marketing efficiency for agricultural produce. It is a state-of the-art organized and structured market place providing facilities for risk fee and hassle free procurement and disposal of farm produce. It provides customized solutions to various problems faced by the farmers, traders, processors, exporters, importers, arbitrageurs, investors and the general mass relating to agricultural marketing, storage, warehouse receipt financing, etc.
