| Our bureau
August 18,2004.
Raw Jute futures at NMCE registered a high volume of 3476 tonnes valued at Rs 35.27 crores on a single day on 17th August, 2004. The near month contract ,Jute September, recorded volume of 3296 tonnes. The active series, Jute September, opened high at Rs 1020 a quintal and eased to Rs 1001 and improved slightly before closing at Rs 1009.4 a quintal.
NMCE after receiving formal approval from FMC commenced futures trading in Raw Jute from 4th June, 2004 and recorded a total volume of 51,832 lots valued at Rs. 543.8 crores.
Futures trading in raw jute suspended in 1964 in the wake of alleged price manipulation, which left the farmer in the lurch is now picking up at NMCE and is experiencing the benefits of Price Discovery and Price Risk Management through a demutualised platform .
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