| Asset Code |
CASTOR |
| Product Code |
CASTORF |
| Series Code |
CSTMMMYYYY |
| Trading System |
NMCE’s Derivatives Trading and Settlement System |
| Trading Hours |
Monday to Friday:10:00 am to 5:00 pm
Saturday:10:00 am to 2:00 pm
|
| Unit of Trading |
10 MT |
| Delivery Unit |
10 MT |
| Quotation/Base Value |
100 Kgs |
| Tick Size |
10 paise |
| Price Band |
Daily Price fluctuation limit will be +/-3%. Limit on daily price fluctuation will
be reckoned with reference to the pervious close price/opening price. If trade hits
this price limit, trade would stop for 15 minutes, where after price would be extended
by another +/- 1%. No trade would be permitted during the day beyond then revised
price limit of +/-4%
|
| Quality Specification |
Castor Seed
1.Foreign Matter-2.0%
2.Damaged Discolored Seeds-5.0%
3.Immature, Shriveled and Dead seeds-2.0%
4.Broken seeds-0.5%
5.Other Oil seeds-0.5%
6.Weevilled Seeds-1.0%
7.Moisture-5.0% max.
Total refraction from Sr. No. 1 to 6 should not exceed 3%
|
| No. of delivery Contracts in a year |
Maximum 6 bi-monthly contracts in a year. |
| Delivery Centers |
CWC Ahmedabad Basis |
| Additional Delivery Center |
Palanpur, Disa, Dhanera, Patan, Sidhpur, Unjha & Mehasana, Kadi, Bhabhar, Harij,
Talod, Kapadwanj, Himatnagar, Bhuj, Rajkot, Halvad, Jamnagar,Dhoraji Subject to
freight appropriation from Ahmedabad basis center
|
| Opening of Contracts |
Trading in any contract month will open on the 16th day of the month as per the
approved calendar
|
| Due Date |
15th day of the delivery months if 15 happens to be holiday then previous working
day
|
| Closing of Contract |
During the delivery period of 10 to 15 of the delivery month; if the seller member
tenders the WRs to the Exchange clearing house, it will allocate the same on FIFO
basis to the corresponding buyer at a close price of the previous day, since mark
to market (MTM) up to a price of previous day could be settled through daily clearing,
on such matching (allocations). The settlement of such matched position shall be
matching (T) +3 days for fund pay-in and pay-out from the buyers and to the sellers
respectively.
|
| Delivery Logic |
Compulsory Delivery |
| Limit on open position |
Client – 8,000 MT
Member – 24,000 MT or 15% of total market open position in the commodity whichever
is higher
Near Month Limit:
Client – 2,000 MT
Member – 6,000 MT or 15% of the total near month position in the commodity, whichever
is higher
|
Introduction
Castor (Ricinus communis L.) is cultivated around the world because of the commercial importance of its oil. India is the world’s largest producer of castor seed and meets most of the global demand for castor oil. India produces 8 to 8.5 lakh tonnes of castor seed annually, and accounting for more than 60% of the entire global production.
Because of its unlimited industrial applications, castor oil enjoys tremendous demand world-wide. The current consumption of Castor Oil and its derivatives in the domestic market is estimated at about 300,000 tonnes. India is also the biggest exporter of castor oil and its derivatives at 87% share of the international trade in this commodity.
Castor is an important non-edible oilseed crop and is grown especially in arid and semi arid region. It is originated in the tropical belt of both India and Africa. It is cultivated in different countries on commercial scale, of which India, China and Brazil are major castor growing countries accounting for 90 per cent of the world's production. Historically, Brazil, China and India have been the key producing countries meeting global requirements. However, in early 90’s, Brazilian farmers moved away to more lucrative cash crops, and surge in domestic demand in China made them net importers, leaving India to meet the global demand
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