Turmeric added to derivative trading

New Delhi: Leading stock exchange BSE on Friday said it has commenced commodity derivative trading in turmeric with a lot size of 10 metric tons. "The exchange has fixed a trading and delivery of 10 MT.

The basic delivery centre for the turmeric contracts is Nizamabad with additional delivery centres at Sangli, Erode and Basmat," the bourse said in a statement. The launch of turmeric futures was done in the Turmeric City of Maharashtra, Sangli, it added.

"Launch of trading in turmeric contracts is in line with our long-term vision to introduce various agri/non-agri commodities contracts on the BSE platform. We strongly believe there is a lot of scope for growth in the commodities market and look forward to launching more agri commodities and providing effective risk hedging instruments using the latest technology and risk management framework to all Indian stakeholders," BSE MD and CEO Ashishkumar Chauhan said.

The stock exchange has tied up with various agricultural associations and warehouse service providers in India for the growth and development of commodity derivatives markets in the agricultural complex, the statement added.