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Our Bureau
Kochi , Feb. 21
GEOJIT
Infofin Technologies is all set
to launch coffee futures trading
on the NMCE platform over a
Geojit terminal in Bangalore on
Tuesday. Mr L. Mansingh, Secretary,
Ministry of Consumer Affairs, will
launch the online coffee futures.
Coffee is traded in the form
of coffee beans and is the
second largest traded commodity in
the world after crude oil. The
introduction of futures contract will
bring in standardisation in the
trade as far as quality,
delivery and quantity are concerned,
Geojit said. The futures trading
environment will therefore allow
efficient price discovery mechanism.
Mr S. Sundereshan, Chairman of
Forward Markets Commission, will
deliver the keynote address at
the launch. Mr N.K. Choubey,
Managing Director of Central
Warehousing Corporation, Dr. Subhash
Sharma, Director of Indian Institute
of Plantation Management, Mr Kailash
Gupta, Managing Director of NMCE
and Mr C.J. George, Managing
Director of Geojit, are expected
to be present.
JRG: JRG, one
of the leading brokerage houses
for shares and commodity trading,
is also launching online commodity
futures trading in coffee on
Tuesday.
Mr Giby Mathew, Managing
Director, JRG Wealth Management Ltd,
will inaugurate its first trade
in coffee through the National
Multi-commodity Exchange of India Ltd
at its corporate office in
Kochi.
The minimum trading and
delivery unit for coffee will be
1,500 kg and the minimum period
of contract will be two months.
The delivery centres will be
at Kozhikode, Kochi and Bangalore
through Central Warehousing
Corporation.
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