Published On: Sun, Aug 25th, 2013

Ace Commodity Exchange announces the launch of futures contract in Crude Palm Oil and modification in Soymeal contract

Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange

Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange

ACE Derivatives and Commodity Exchange a Kotak Anchored Enterprise, announced the launch of new season Crude Palm Oil Contracts and changes in the contract specification of its Soymeal 14 August.

The CPO contracts expiring in the months of August 2013, September 2013, October 2013, November 2013 and December 2013 will be available for trading on the exchange platform from August 16, 2013. The basis center for the contract is Ex-Tank Kandla (Exclusive of Sales Tax / VAT and inclusive of all other taxes, duties and levies as applicable). The price quotation for Crude Palm Oil is in Rs. per 10 kgs and the trading unit for both the contracts is 10 Metric Tonne (MT). The tick size of the contract is 5 paisa and the delivery type for CPO is both option.

The exchange has launched 2 different contracts for Export and Domestic Soymeal market. For the Export season (starting from October to March), Soymeal Export contract (SOYMEALK) expiring in the months of October 2013 to March 2014 will be available for trading on the Exchange platform. The Soymeal Export contract will have ticker symbol SOYMEALK and basis center as Kandla with 48% (protein) / 11% (moisture) condition.

For the Domestic season (starting from April to September), Soymeal Domestic contracts (SOYMEALI) expiring in the months from April 2014 to September 2014 will be available for trading on the Exchange platform as per the launch calendar. The Soymeal Domestic contracts will have ticker symbol SOYMEALI and basis center as Indore with 46% (protein) / 12% (moisture) condition.

Mr. Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange Limited said “We are pleased to launch a new contract as well modify our existing Soymeal contract. These changes will provide an effective price discovery and risk management platform to all the stakeholders in the economy. The players including farmers, brokers, traders, processors and exporters will be able to efficiently hedge the price risk they carry in their day to day trade through their participation in this contract.

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