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Asset Code
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TURMIC
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Product Code
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TURMICFF
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Series Code
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TRMMMMYYYY
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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 100 kg Ex CWC Erode inclusive of VAT
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Tick Size
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10 Paise
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Price Band
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Daily price limit will be 2%. If the price touches 2%, trading will continue with
2% limit for the 15 minutes period from the time 2% limit was reached. Thereafter,
price limit would be extended by another (+)/(-) 2%. No trade would be permitted
during the day beyond the price limit of (+)/(-) 4% from the previous day’s closing
price.
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Quality Specification
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1.Basis Variety Erode Farmer Polished Turmeric Finger
Inferior quality Turmeric = 1.5 % Max.
Length of the finger
-Broken/less than 15 mm= 3.00 % Max
- Minimum 75 % Fingers =3 CM & above
Damage due to moisture( Lokhandi) or Over boiling (Kadh) =1.2 % max.
Unboiled or Less boiled = 0.3 % max
Foreign Matter (Bhusa, Chaff Dirt, earth clods & stone = 0.75% max
Bulbs = 3 % max
Moisture = 12 % max
(acceptable up to 13 % on discounting 1:1 basis)
Turmeric should be free from infestation, fungus & not be artificially colored with
dyes & chemicals
2. Unpolished Turmeric Fingers Nizamabad Quality
Damage due to Moisture (Lokhandi) or over boiling (Kadh) = 2% Max
Unboiled or less boiled = 1% Max
Bulbs = 5% Max
Other quality parameters shall remain unchanged as mentioned above for Erode Variety
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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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1.CWC warehouses at Erode (Basis),
2.CWC warehouses Nizamabad
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Opening of Contracts
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Trading in any contract month will open on 10th day, if 10th happens to be a non
trading day it will be opened on previous working day .
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Due Date
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20th day of the delivery months if 20th 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 17th and 20th of delivery month.
No fresh positions building will be allowed. From 17th to 20th 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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Client – 3000 MT for all contracts.
Member – 9000 MT for all contracts or 15% of market wide open position whichever
is higher
Near Month Limit:
Client – Maximum of 600 MT
Member – Maximum of 1800 MT or 15% of market wide open position whichever is higher.
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