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Informist, Friday, Dec. 19, 2025

 

By Pallavi Singhal

 

NEW DELHI – The National Commodity and Derivatives Exchange Ltd. is mulling launching pepper futures contracts in 2026, subject to regulatory approvals, its Managing Director and Chief Executive Officer Arun Raste told Informist. Pepper futures, traded earlier on Indian commodity exchanges, were discontinued due to legal and regulatory issues.

 

Raste said NCDEX is reviewing the contract again after recent developments and is considering a relaunch once the legal matter is resolved. "India is among the largest producers of pepper, yet our role in price discovery is limited," Raste said. "If you are a dominant producer or a dominant consumer, you should be in a position to set prices." 

 

Raste said NCDEX is looking at relaunching pepper futures as part of its efforts to strengthen agri-commodity trading on the exchange. He added that the exchange is examining the contract's feasibility in the current market environment.

 

Pepper could serve as a test case for how Indian exchanges influence global commodity pricing in markets where the country has strong production fundamentals, he said. "If we can get pepper right, it can become an example for other crops where India has scale but not pricing power," Raste said.

 

The proposed relaunch is part of NCDEX's broader review of commodities that were earlier traded but discontinued. Raste said that improvements in logistics and market infrastructure over the years are among the factors being assessed in the study of the contract.

 

Any decision to relaunch pepper futures will depend on regulatory clearances and market readiness. The exchange is targeting a 2026 relaunch.   End

 

Edited by Saji George Titus

 

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