| Type of contract |
Futures Contract Specifications |
| Name of commodity |
Chilli |
| Ticker symbol |
CHLL334GTR |
| Trading system |
NCDEX Trading System |
| Basis |
Chilli (Paala) traded as LCA 334 ex warehouse Guntur inclusive of all taxes and Market Cess |
| Unit of trading |
5 MT |
| Delivery unit |
5 MT |
| Quotation/ Base value |
Rs. per Quintal |
| Tick size |
Re. 1 |
| Quality specification |
- LCA 334
- Colour - Bright Red
- Length
a) Not less than 5 cms
b) Chillies less than 5 cms will be allowed to a maximum of 5% by weight
- Moisture should not be more than 12.5*%
- Foreign matter should not be more than 2%
- Broken Chillies should not be more than 7%*
- Loose seeds should not be more than 2%
- Damaged and discolored pods - Basis 6% *
Acceptable up to 7% with 1:1 discount
- Pods without stalks should not be more than 8%*
*Tolerance up to 0.5% of the above limits only in the outbound deliveries will be allowed |
| Also Deliverable |
Guntur Sannam with a premium of Rs. 150 per Quintal |
| Quantity variation |
+/- 2% |
| Delivery center |
Guntur (up to the radius of 50 Kms from the municipal limits) |
| Additional delivery centre |
Warangal (up to the radius of 50 Kms from the municipal limits) Location Premium/Discount as notified by the Exchange from time to time. |
| Hours of Trading |
As per directions of the Forward Markets Commission from time to time, currently:
Mondays through Fridays: 10:00 a. m. to 5:00 p.m.
Saturdays: 10.00 a.m. to 2.00 p.m.
The Exchange may vary the above timing with due notice. |
| Due date/Expiry date |
20th day of the delivery month
If 20th happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day (other than a Saturday) of the Exchange |
| Delivery specification |
Upon expiry of the contract all outstanding positions will result in delivery.
The penalty structure for failure to meet delivery obligations will be as per circular no. NCDEX/TRADING-086/2008/216 dated September 16, 2008. |
| Delivery Logic |
Compulsory Delivery |
| Opening of contracts |
Trading in any contract month will open on the 10th day of the month. If 10th happens to be a non-trading day, contracts would open on the next trading day |
| Closing of contract |
On the expiry of the contract, all the outstanding position would have to be settled by physical delivery |
| No. of active contracts |
As per Annexure A |
| Daily price fluctuation limit |
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 |
| Position limits |
Member: Maximum of 4,500 MT for all contracts or 15% of market open position whichever is higher.
Client: Maximum of 1,500 MT for all contracts
The above limits will not apply to bona fide hedgers.
For bona fide hedgers, the Exchange will, on a case to case basis, decide the hedge limits. Please refer to Circular No. NCDEX/TRADING-100/2005/219 dated October 20,2005.
For near month contracts:
The following limits would be applicable from 28 days prior to expiry date of a contract
Member: Maximum of 1,500 MT or 15% of market wide open interest in near month whichever is higher
Client: Maximum of 500 MT |
| Special margins |
Special margin of 5% of the value of the contract will be levied whenever the rise or fall in price exceeds 20% of the 90-day prior settlement price. The margin will be payable by the buyer or the seller depending on whether price rises or falls respectively. The margins shall remain in force so long as the price stays beyond the 20% limit and will be withdrawn as soon as the price is within the 20% band. |
