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NCDEX re-launches bajra futures after 7-year gap

NCDEX re-launches bajra futures after 7-year gap
New Delhi, Dec 20 () Leading agri-commodity bourse NCDEX on Friday re-launched future trading in feed-grade bajra after a gap of seven years.

Initially, the futures contract of bajra will be available for trading for expiry in January, February, March and April of 2020, it said.

NCDEX, in a statement, further said Jaipur (Rajasthan) will be the basis centre for delivery of the commodity, while Dausa and Alwar will be additional delivery centres.

The exchange had stopped trading in bajra futures in 2012-13 fiscal. It has re-launched it again making the contracts more aligned to the market, the exchange official told .

Commenting on the launch, NCDEX Managing Director and CEO Vijay Kumar said: "The bajra contract is part of our effort to offer innovative products designed to meet the needs of farmers and other value chain participants."

The stakeholders in Bajra value chain, which include farmers, millers, traders and exporters, are often exposed to price risk, NCDEX said adding that its futures contract of bajra will serve as an appropriate tool for hedging for the entire value chain.

Bajra is mainly consumed as food and also used in manufacturing of poultry and cattle feed. It is majorly a kharif crop in North India and a summer crop in southern part of the country. The harvesting of Bajra starts from September.

Rajasthan is the largest bajra-producing state in India enjoying a market share of about 40 per cent. Uttar Pradesh, Gujarat, Maharashtra and Haryana are the other leading producers.

India is the highest producer of millets worldwide with an average production of about 90 lakh tonnes of bajra and has a huge potential in terms of its domestic trade.

NCDEX offers both futures and option trading. It has large presence in agriculture commodities. LUX HRS