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BSE launches almond futures contract

23 Jun 2020 Evaluate

The leading stock exchange BSE (formerly Bombay Stock Exchange) has launched the almond futures contract after receiving regulatory approval from capital markets watchdog -- Securities and Exchange Board of India (SEBI). This is the world's only available derivatives contract for trading in almonds.

The contract trading unit is 1,000 kgs and the maximum order size is 20,000 kgs, delivery units are 1,000 kg deliverable at Navi?Mumbai. The almond contracts will take the reference rate of Navi Mumbai Agricultural Produce Market Committee (APMC). BSE said it is confident that wide dissemination of almond prices on its platform will be used as reference for physical market transactions.

It is also expanding ties with various physical market participants for strengthening of warehouses and other support infrastructure, which is essential for grading, sorting and quality certification, etc. The exchange said it is still reaching out to participants and spreading awareness of the benefits of these products and looks forward to a wide participation in the future.

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