National Commodity & Derivatives Exchange (NCDEX), the leading commodity exchange in the country has achieved remarkable success in the recently launched Forwards segment. In just six months of its launch, 7888 tonnes of commodity was traded on the platform. While 27 commodities are available for trading on the forwards segment, maize, coriander, sugar, castor seed and jeera are among the most actively traded commodities.
The Exchange registered total volume of Rs 2494.1 lakh with 7,888 tonnes of commodities being traded, out of which maize accounted for bulk of the trade with 4100 tonnes followed by castor seed at 2330 tonnes, sugar at 600 tonnes, coriander at 520 tonnes and 228 tonnes of jeera being traded.
NCDEX is the only exchange in the country to offer exchange-traded forwards contracts. In order to make markets more accessible to the farmers and traders in mandis, a new membership category known as `Commodity Participant Members (CPMs)’ was introduced and a special discount was offered to Farmer Producer Organisations (FPOs) to become members on the forwards segment. So far, 10 FPOs from Bihar, Delhi, Maharashtra and Madhya Pradesh have actively participated in the trade, while over 14 have applied for membership.