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Asset Code
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JUTE
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Product Code
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JUTEF
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Series Code
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JUTMMMYYYY
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Trading System
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NMCE’s Derivatives Trading and Settlement System
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Trading Hours
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Monday to Friday:10:00 am to 5:00 pm
Saturday:10:00 am to 2:00 pm
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Unit of Trading
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10 MT
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Delivery Unit
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10 MT
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Quotation/Base Value
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Rs. per Quintal
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Tick Size
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10 Paisa
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Price Band
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Daily price fluctuation limit will be +/-3%. Limit on daily price fluctuation will
be reckoned with reference to the pervious 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%.
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Quality Specification
[BIS Specification - IS 271;2003]
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[Grade–TD4] West Bengal
Strength : Fairly average
Defects: Free from major defects and not more than 20% fibers should contain specks
and loose sticks.
Maximum root content (percentage by mass) = 15%
Colour : fairly average (light grey to copper colour).
Fineness: Fiber well separated
Density : Medium bodied
Total score = 55
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No. of delivery Contracts in a year
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Maximum 12 months contracts in a year
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Delivery Centers
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CWC warehouses in Kolkata
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Opening of Contracts
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Minimum 2 months prior to the contract month.
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Due Date
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Last day of the delivery month if last day happens to be holiday then previous working
day.
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Delivery Logic
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Compulsory Delivery
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Closing of Contract
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Squaring up of positions will be permitted between 28th and last day of delivery
month. No fresh positions building will be allowed. From 28th to last day 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.
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Limit on open position
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Aggregate Limit
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-1,600 MT
Member – 4,800 MT or 15% of the total near month position in the commodity, whichever
is higher
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*As per Circular No. NMCE/2008-09/0063 dated 23 December, 2008
Introduction
Jute is a natural fibre popularly known as the golden fibre. It is one of the cheapest and the strongest of all natural fibres and considered as fibre of the future. It is a long, soft, shiny fibre that can be spun into coarse, strong threads. Jute plant is generally 6 to 12 feet in length. The jute plant"s fibres lie beneath the bank and surround the woody central part of the steam. Jute is second only to cotton in world"s production of textile fibres.
In India 4000,000 families are involved in the cultivation of raw jute. There are 76 jute mills in India and about 4 million families are dependent on cultivation of Jute and Mesta and about 2 lakh workers get direct employment in the Jute industry. Several thousand other people are engaged in several jute related diversified goods. India is also self sufficient in the jute seed production. More than 90 percent of seeds are produced by the state seed corporation of Andhra Pradesh and Maharashtra. The first Jute Mill was established at Rishra, on the River Hooghly near Kolkata, in 1855 by Mr. gerge Acland. Mr. George Acland brought jute spinning machinery from Dundee (U.K).