Leading commodity exchange National Commodity & Derivatives Exchange Limited (NCDEX) today announced the launch of a long staple (29 mm) cotton bales contract. The exchange will facilitate delivery of 29 mm cotton bales through Comtrack, its proprietary electronic commodity account ting system. The delivery centres are located in Maharashtra and Gujarat, the two main cotton producing states, NCDEX said in a statement here.
With this the NCDEX cotton basket now spans the entire product line from kapas and bales to cotton seed and cotton seed oil-cake. This will give players across the value chain an opportunity to hedge their price risk.
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