The National Commodity & Derivatives Exchange (NCDEX) on 31 March 2014 launched the World’s first bajra future contract for the benefit of Indian farmers.
The Future Contract will be available for trading from 1 April 2014. Initially May, June and July months of 2014 contracts will be available for trading.
The bajra future contract is part of NCDEX effort to offer innovative products designed to meet the needs of local farmers and businesses so that they benefit from efficient price discovery and risk management.
Bajra was included in the Agricultural products of the NCDEX as 21st products. India contributes close to half of the global supply of bajra.
NCDEX is an on-line multi-commodity exchange and was launched in 2003 under the Companies Act, 1956. It is headquartered in Mumbai.
NCDEX is the only an economic good exchange in the country which is being promoted by national level institutions. NCDEX offers two types of products Agricultural products and non-agricultural products. This online exchange also provides information of the products which are in shortage in the market.
About Future Contract
Future Contract is a contract between two parties to buy or sell the products for a price agreed upon the day of agreement but the products are delivered at future date.