More Stories

Informist, Tuesday, Sep 17, 2024

 

--NCDEX MD Raste: Guar gum options to be launched in Nov

 

By Pallavi Singhal and J. Navya Sruthi

 

MUMBAI – National Commodity and Derivatives Exchange will launch options on guar gum futures contracts in November, Arun Raste, managing director of the exchange, told Informist on the sidelines of Tefla's The Wheat Summit today.  

 

Raste said the move would be in addition to the rollover of options contracts of the currently traded guar seed futures on the exchange. NCDEX had launched options on guar seed futures contracts in June.

 

"We have launched guar options. And they are doing pretty well. At the moment, it is a push product," Raste said. In time, the exchange plans to start options contracts for all farm commodities.

 

Guar gum is the gum derived from seeds of the guar plant. India accounts for 80% of the world’s guar produce, of which 72% comes from Rajasthan, according to the Agricultural and Processed Food Products Export Development Authority. About 90% of the guar gum processed in India is exported, it said.  End

 

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.