Date:24/11/2006 URL: http://www.thehindubusinessline.com/2006/11/24/stories/2006112402271200.htm

Back NCDEX to launch futures in barley

Our Bureau

Mumbai , Nov. 23

NCDEX will be launching futures contracts in barley next month. It has received approval from the Forwards Market Commission for this, said an exchange official.

NCDEX will be the first exchange to launch futures contracts in the commodity.

The contracts will be compulsory delivery contracts deliverable at Jaipur and also Rewari and Bulandshahr. The trading unit of the new barley contracts will be 10 tonnes.

The minimum changes in the futures price or the tick price is 20 paise per quintal. The daily price limit will be six per cent.

Quality norms

The quality specifications include 40 Gms basis for Thousand Grain Weight (TWC) and two per cent basis for broken kernel, damaged particles and foreign material.

Barley is mainly grown in Uttar Pradesh, Rajasthan, Bihar and Haryana, with UP and Rajasthan accounting nearly for 70 of the India's total production.