National Commodity & Derivatives Exchange (NCDEX), the country’s leading commodity derivatives exchange, has announced reduction in rental charges in its approved warehouses across the country. In a move that will benefit all the participants on the exchange platform, rental charges for NCDEX approved warehouses have been slashed across different commodities in various locations.
The reduction in charges from 3% to 16.7% will now make storing commodities cheaper for the depositors. The reduced charges will be applicable for deposits made from November 1, 2014 onwards.
The exchange had recently introduced an additional safeguard procedure with compulsory second quality testing for fresh deposits at no additional cost to the depositors. This procedure is implemented during fresh deposits at the exchange registered warehouses in order to ensure that they meet the contract specifications.