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Click Here - Contract Specifications of Potato Futures contract expiring from March 2010 and onwards.
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Contract Specifications of Potato Futures contract expiring from March 2010 and onwards. ( updated as on 7 January, 2010 )
Type of Contract Futures Contract Specifications
Name of Commodity Potatoes Fair Average Quality
Ticker symbol POTATO
Trading System NCDEX Trading System
Basis Ex-warehouse Agra gross weight exclusive of all local taxes – taxes, fees ( i.e. mandi fee ), levies etc.
Unit of trading 15 MT
Delivery unit 15 MT
Quotation/base value Rs per quintal
Tick size 10 paisa
Quality specification Potato as per following specification shall be acceptable for physical delivery
Width Size (potato width size by one dimension or the other)
Less than 35 mm -10% Max
More than 80 mm -15% Max
Dull, Skin blemishes, Cut , Crack ( cut and cracked not exceeding 5% max), Sprouted (Sprouted content not exceeding 1% max and Sprout length more than 2 mm only to be considered as Sprouted), Black scars and Green Potatoes 15% basis
Soil (kgs per bag) 1 kgs Max per 51 Kgs bag
The potatoes should be firm and the skin should be mature and thick. The potatoes should be free from disease.
Quantity variation +/-10%
Delivery center Agra (within a radius of 50 km from the municipal limits)
Additional delivery centers Indore and Vadodara (For all the centers up to the radius of 50 kms from the municipal limits) with locational premium/discount as announced by the Exchange before launch of contract
Types of Potato Deliverable Agra – 3797
Indore – Jyoti and Laukar
Vadodara- Badshah and Laukar

All the varieties will be at par
Hours of Trading As per directions of the Forward Markets Commission from time to time, currently -

Mondays through Friday - 10:00 AM to 5:00 PM
Saturdays - 10.00 AM to 2.00 PM

The Exchange may vary the above timing with due notice
Delivery specification Upon expiry of the contract, all outstanding open positions would result in compulsory 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 a new month contract will open on the 10th day of the month in which the near month contract is due to expire. If the 10th day happens to be a non-trading day, contracts would open on the next trading day
Closing of contract Upon the expiry of contract all the outstanding open position would result in compulsory delivery
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 of the Exchange, which is not a Saturday
No. of active contracts As per launch calendar
Price band Daily price fluctuation limit is (+/-) 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 the price band would be raised by another (+ / -) 1% and trade will be resumed.

If the price hits the revised price band (4%) again during the day, trade will only be allowed within the revised price band. No trade / order shall be permitted during the day beyond the revised limit of (+ / -) 4%.
Position limits For Members - Maximum up to 45,000 MT or 15% of market-wide open interest whichever is higher.

For clients - Maximum up to 15,000 MT

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 twenty eight days prior to expiry date of a contract
Member: Maximum up to 9,000 MT or 15% of the market-wide near month open position, whichever is higher
Client: Maximum up to 3,000 MT
Special margins In case of additional volatility, a special margin at such 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 limit :-

Commodity Specifications Basis Acceptable quality range as per contract specification Permissible Tolerance
Width Size (potato width size by one dimension or the other) Less than 35 mm -10% Max NA* NA*
More than 80 mm -15% Max
Dull, Skin blemishes, Cut, Crack (cut and cracked not exceeding 5% max), Sprouted (Sprouted content not exceeding 1% max and Sprout length more than 2 mm only to be considered as Sprouted), Black scars and Green Potatoes 15% max NA* +/-0.50%
Soil (kgs per bag) 1 kgs Max per 51 Kgs bag NA* NA*
The potatoes should be firm and the skin should be mature and thick. The potatoes should be free from disease.

N/A * = Not Applicable

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.

Contract Launch Calendar:-

Contract Launch Month Contract Expiry Month
January 5, 2010 March 2010
January 5, 2010 April 2010
January 11,2010 May 2010
February 2010 June 2010

Contract Launch Calendar:-

Contract Launch Month Contract Expiry Month
March 2010 July 2010
April 2010 August 2010
May 2010 September 2010


Contract Launch Calendar of Potato :-

Contract Launch Month Contract Expiry Month
June 2010 No Launch
July 2010 No Launch
August 2010 March 2011
September 2010 April 2011
October 2010 May 2011
November 2010 June 2011
December 2010 July 2011
January 2011 August 2011
February 2011 September 2011
March 2011 No Launch






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.