Mumbai: National Commodity & Derivatives Exchange Limited (NCDEX) today said it is seeing greater traction in its recently launched crude palm oil contract.
"We are seeing greater traction in our recently launched crude palm oil contract. With an average daily traded volume of close to 1820 MT and an open interest of 6,810 MT as on December 2, the total volume in crude palm oil since launch, upto December 2 is Rs 62 crore," NCDEX said in a statement here.
With an increasing demand for palm oil, price risk management for a consuming nation as India is very important.
NCDEX crude palm oil futures are ideal to meet the price risk management needs of the processors, traders, physical participants and end users.
The NCDEX crude palm oil futures prices are highly co-related with Bursa Malaysia, where crude palm oil futures are actively traded.
