| Asset Code |
RAPES |
| Product Code |
RAPESF |
| Series Code |
RPSMMMYYYY |
| Trading System |
NMCE’s Derivatives Trading and Settlement Systems |
| 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 |
20 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 previous close 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 |
Quality Specifications as per Grade 'Special' in Schedule II of Rape and Mustardseeds Grading and Marking Rules, 1964 [Agmark] |
| No. of delivery Contracts in a year |
Maximum 12 monthly or minimum 2 monthly contracts running concurrently. |
| Delivery Centers |
Patan |
| Additional Delivery Centers |
Palanpur, Disa, Dhanera, Sidhpur, Unjha, Mehsana, Kadi, Bhabhar, Hariz, Talod, Himatnagar, Bhuj, Rajkot, Halwad, Jamnagar, Dhoraji.
Subject to Freight appropriation from basis center |
| Opening of Contracts |
Trading in any contract month will open on the 16th day of the month, min 2 months
prior to the contract month.
|
| Due Date |
15th day of the delivery months if 15 happens to be holiday then previous working day |
| Delivery Logic |
Compulsory Delivery |
| Closing of Contract |
Squaring up of positions will be permitted between 12th and 15th of delivery month.
No fresh positions building will be allowed. From 12th to the 15th of delivery month,
seller can tender Warehouse Receipt for settlement and Warehouse Receipt will be
accepted for settlement at closing price of the previous day.
|
| Limit on open position |
Client – 20,000 MT
Member – 60,000 MT or 15% of total market open
Near Month Limit:
Client – 6,000 MT
Member – 18,000 MT or 15% of the total near month position in the commodity, whicheveris higher
|
Introduction
India is one of the largest rapeseed-mustard growing countries in the world, occupying the first position in Area and second position in Production after China. The world production of Rapeseed/Mustard has been increasing at a rapid rate in several countries largely in response to the continuing increase in demand for edible oils and its products.Brassica (rapeseed-mustard) is the second most important edible oilseed crop in India after groundnut and accounts for nearly 30% of the total oilseeds produced in the country. When compared to other edible oils, the rapeseed/ mustard oil has the lowest amount of harmful saturated fatty acids. It also contains adequate amounts of the two essential fatty acids, linoleic and linolenic, which are not present in many of the other edible oils .
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