“Launch of trading in turmeric contracts is in line with our long-term vision to introduce various agri/non-agri commodities contracts on BSE platform,” BSE Managing Director and CEO Ashishkumar Chauhan said in a statement. The launch of turmeric futures was done in Sangli, the turmeric city of Maharashtra.
“We believe there is a lot of scope for growth in the commodities market and look forward to launching more agri commodities and providing effective risk hedging instruments using the latest technology and risk management framework to all Indian stakeholders,” said Chauhan in a statement.
The exchange has fixed trading and delivery of 10 metric tonnes. The basic delivery centre for the turmeric contracts is Nizamabad with additional delivery centres at Sangli, Erode and Basmat.
BSE has tied up with various agricultural premier associations and warehouse service providers in the country for the growth and development of commodity derivatives markets in the agricultural complex, the statement said.