Date:24/04/2006 URL: http://www.thehindubusinessline.com/2006/04/24/stories/2006042400820500.htm

Back 1,300 t rubber delivered on NMCE

Our Bureau

Kochi , April 23

Physical delivery of rubber was 1,300 tonnes at the National Multi-Commodity Exchange of India for the April 2006 series, as against a traded volume of 71,874 tonnes. Physical delivery in pepper was 251 tonnes as against a traded volume of 9,780 tonnes. And cardamom recorded physical delivery of 128 quintals as against traded volume of 33,926 quintals.

With this, the total physical delivery of rubber increased to 20,791 tonnes at the exchange from the initiation of futures trading, pepper recorded 14,681 tonnes and rubber was at 1,598 quintals. Physical delivery of 70 tonnes in chana, 20 tonnes in castor seed and 10 tonnes of gaur seed were undertaken, a press release from the exchange said.

Cardamom prices fall

Due to the rise in output and lower demands, cardamom prices fell from Rs 289 to Rs 211 during the April trading cycle. With the buoyancy in international markets, rubber prices rose steadily. Gaur seed, chana and castor seed have been gaining momentum at the NMCE.

NMCE provides guarantee for contracts not only in financial terms, but also in physical terms and, hence, 90 per cent of finance is provided from Punjab National Bank against CWC warehouse receipts accompanied with the forward sale contract of NMCE.