The National Commodity and Derivatives Exchange (NCDEX), India’s leading commodity exchange, has commenced trading in Degummed Soy oil futures. The introduction of this contract, while completing the oilseeds product basket, will give the value chain participants an effective tool to manage their price risk and get transparent and relevant price signals.
Degummed Soy Oil contract expiring in the months of July, August, September, October, November and December 2017 and January 2018 was available for trading from June 12, 2017. The contract received encouraging response from the market participants on its debut. The July futures contract of Degummed Soy oil futures registered a volume of about Rs 6 crore.
With 80% of the edible oils being imported in crude form, having a degummed soy oil (basis centre – Kandla) futures contract will help provide a reference for imported soy oil.