NCDEX Spot Exchange Limited (NSPOT) has launched a compulsory delivery contract in sugar on its electronic platform on January 21, 2009. All trades on this platform are guaranteed by the Exchange for delivery and payments.
The contract would cater to the sugar producers in Maharashtra and will benefit all cane growing farmers of the sugar producing areas, mill-owners, consumers and exporters; especially those located in the vicinity of Kolhapur, the sugar bowl of Maharashtra.
This scheme is widely supported by major sugar producers in the region including Rajaram Bapu Shetkari Sakhar Karkhana Limited.
NSPOT will create a real-time, online, transparent and vibrant spot platform for trading in sugar in India. The contract would allow participants from all over the country to trade in Kolhapur Sugar, thereby enabling sugar producers in Kolhapur discover the best price for their sugar traded on NSPOT.
Shri P. R. Patil, Chairman, Rajarambapu Patil Shetkari Sakhar Karkhana Limited said, "We welcome the initiative taken by NCDEX SPOT by launching a platform for spot trading on NCDEX. We will actively participate in the spot trading. We wish NSPOT all the best on this occasion and it is a timely move in the overall interest of sugar industry."
NSPOT would be launching various agricultural and non-agricultural contracts in the coming months.
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