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Futures Contract Specifications for Coriander.
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| Type of Contract |
Futures Contract
Specifications |
| Name of Commodity |
Coriander |
| Ticker symbol |
DHANIYA |
| Trading System |
NCDEX Trading System |
| Basis |
Badami Whole Dhaniya
ex-warehouse Kota inclusive of Sales tax/VAT and Market tax |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. per Quintal |
| Tick size |
Re. 1 |
| Quality specification
|
Coiander of Indian
origin with following specifications
Coriander to be necessarily
machine cleaned
• Moisture – Basis 8% and acceptable upto 10%
with 1:1 discount
• Foreign Matter – Basis 1% and acceptable upto
2% with 1:1 discount
• Damaged, Discolored & Shriveled seeds –
Basis 2% and acceptable upto 5% with 1:0.5 discount
• Weevil seeds – Max 0.5%
• Coriander splits (Dal) – Basis 5% and acceptable
upto 10% with 1:0.5% discount
• Live infestation – Not allowed
(Foreign matter includes dust, dirt, stones, lumps, earth,
chaff, stalk, stem/straw, edible seeds of fruits other than Coriander)
|
| Also Deliverable |
All grades superior
to Badami can be delivered |
| Quantity variation |
+/- 2% |
| Delivery center |
Kota (up to the radius
of 50 Km from the municipal limits) |
| Additional delivery centres |
Ramgunj mandi, Jaipur & Guna(up
to the radius of 50 Km from the municipal limits)
Location Premium/Discount as notified by the Exchange from time to
time |
| Hours of Trading |
As per directions
of the Forward Markets Commission from time to time, currently:
Mondays through Fridays: 10:00 a. m. to 5:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.
The Exchange may vary the above timing with due notice. |
| Due date/Expiry date |
20th day of the delivery
month
If 20th happens to be a holiday, a Saturday or a Sunday then the due
date shall be the immediately preceding trading day (other than a
Saturday) of the Exchange |
| Delivery specification
|
Upon expiry of the
contract all outstanding positions will result in delivery. The penalty
structure for failure to meet delivery obligations will be as per
circular no. NCDEX/TRADING-086/2008/216 dated September 16, 2008.
|
| Delivery Logic |
Compulsory Delivery
|
| Opening of contracts |
Trading in any contract month
will open on the 10th day of the month. If 10th happens to be a non-trading
day, contracts would open on the next trading day |
| Closing of contract |
On the expiry of the contract,
all the outstanding position would have to be settled by physical
delivery |
| No. of active contracts |
As per enclosed Annexure II |
| Daily price fluctuation
limit |
Daily price limit
will be 3%. If the trade hits the prescribed daily price limit there
will be a cooling off period for 15 minutes. Trade will be allowed
during this cooling off period within the price band. Thereafter,
price limit would be extended by another (+/-) 1%. No trade would
be permitted during the day beyond the price limit of (+/-) 4% from
the previous day's closing price. |
| Position limits |
Member: Maximum
of 3000 MT for all contracts or 15% of market open position whichever
is higher
Client: Maximum of 1000 MT for
all contracts
The above limits will not apply to bona fide hedgers. For bona fide
hedgers, the Exchange will, on a case to case basis, decide the hedge
limits. Please refer to Circular No. NCDEX/TRADING-100/2005/219 dated
October 20,2005
For near month contracts:
The following limits would be applicable from 28 days prior to expiry
date of a contract
Member: Maximum of 600
MT or 15% of market open position whichever is higher.
Client:
Maximum of 200 MT |
| Special margins |
In case of additional volatility,
a special margin at such other percentage, as deemed fit, will be
imposed in respect of outstanding positions, which will remain in
force as long as the volatility exists, after which the special margin
may be relaxed. |
|
Tolerance Limits for Coriander:
| Commodity Specifications |
Basis |
Acceptable quality
range as per contract specification |
Permissible Tolerance |
| Moisture |
8% |
10% |
- |
| Foreign Matter |
1% |
2% |
0.25% |
| Damaged, Discolored & Shrivelled
seeds |
2% |
5% |
0.5% |
| Weevil seeds |
0.5% |
|
0.1% |
| Coriander Splits |
5% |
10% |
0.5% |
| Max Loss (for all
the characteristics) |
+/-1.01 % |
|
Note:
Tolerance limit is applicable only for outbound deliveries. Variation
in quality parameters within the prescribed tolerance limit as above
will be treated as good delivery when members/clients lift the materials
from warehouse. These permissible variations shall be based on the
parameters found as per the immediate preceding test certificate given
by NCDEX approved assayer.
|
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Contract Launch Calendar :-
| Contract Launch Month |
Contract Expiry Month |
| October 2009 |
January 2010 |
| November 2009 |
February 2010 |
| Decemebr 2009 |
March 2010 |
| January 2010 |
April 2010 |
| February 2010 |
May 2010 |
| March 2010 |
June 2010 |
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Contract Launch Calendar
| Contract Launch Month |
Contract Expiry Month |
| April-2010 |
July-2010 |
| May-2010 |
August-2010 |
| June-2010 |
September-2010 |
| July-2010 |
October-2010 |
| August-2010 |
November-2010 |
| September-2010 |
December-2010 |
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Contract Launch Calendar of Coriander :-
| Contract Launch Month |
Contract Expiry Month |
| October 2010 |
January 2011 |
| November 2010 |
February 2011 |
| December 2010 |
March 2011 |
| January 2011 |
April 2011 |
| February 2011 |
May 2011 |
| March 2011 |
June 2011 |
| April 2011 |
July 2011 |
| May 2011 |
August 2011 |
| June 2011 |
September 2011 |
| July 2011 |
October 2011 |
| August 2011 |
November 2011 |
| September 2011 |
December 2011 |
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Members and market participants who enter into buy and sell transactions may
please note that they need to be aware of all the factors that go into the
mechanism of trading and clearing, as well as all provisions of the Exchange's
Bye Laws, Rules, Regulations, Product Notes, circulars, directives,
notifications of the Exchange as well as of the Regulators, Governments and
other authorities.
Members and market participants trading on the Exchange in the
commodity contracts shall be deemed to be aware of applicable laws and
amendments thereof from time to time, including provisions and rates relating
to the sales tax, value added tax APMC Tax, Mandi Tax, octroi, excise duty,
stamp duty, etc., applicable on the underlying commodity of any contract
offered for trading.
The Exchange shall not be responsible or liable on account of non
compliance by any of the members and market participants of any such applicable
laws or any amendments thereof including not being aware of rates of taxes,
levies, etc., on the underlying commodity of any contract offered for trading.
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