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NCDEX launches 'Cotton futures' with direct delivery
Apr '13
NCDEX, the leading agricultural commodity exchange in the country launches its cotton futures contract with effect from April 1, 2013. It has incorporated few key modifications into the contract specifications of its earlier contract, so as to align with current industry norms & facilitate direct delivery mechanism. The 29 mm cotton futures are aimed to address the risk management requirements of the value chain participants of cotton.

Speaking at the launch, Mr. Vijay Kumar, Chief Business Officer, NCDEX said “We expect to find widespread participation in this contract from ginners, spinners and exporters of this country. Direct delivery model is aimed to ensure a smooth transfer of goods from seller to buyer and with greater effectiveness.”

In the Direct Delivery process, the seller would directly deliver the cotton bales to buyer at. The seller can deliver the lots (of 100 bales each), either in Rajkot (basis center) or in Kadi (additional delivery center), both of which are at par. Buyer would be required to specify/nominate a warehouse where they would like to take the delivery, which has to be within 100 kms of the municipal limits of the center where the seller has tendered their delivery.

Seller would deliver the lots at buyer’s warehouse, where it would be checked for quality by an exchange appointed assayer. It is a compulsory delivery contract with seller having a window starting from 5th of the expiry month to tender their delivery and the entire settlement cycle would be completed within 8 days from the day of tendering.


National Commodity & Derivatives Exchange Limited is a professionally managed on-line multi commodity exchange, with its headquarters in Mumbai.

National Commodity & Derivatives Exchange Limited (NCDEX)

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