Futures Contract Specifications

Kachhi Ghani Mustard Oil

KACHIGHANI

NCDEX Trading System

Ex-tank Jaipur (Exclusive of sales tax)

10 MT

10 MT

Rs. per 10 Kg

Re. 0.05 (5 paisa)

Parameters
Kachhi Ghani Mustard Oil shall be clear, free from rancidity, suspended or foreign matter, separated water, added colouring or flavouring substances or mineral oil. It shall conform to the following standards:

1. Colour on Lovibond scale in ( 1/4 " Cell) as Y + 5R, units - 50
2. Acid Value as % Oleic Acid -1.5% Maximum
3. Iodine Value (wijs method) - 98 to 110
4. Bellier's Test (Turbidity Temp.) - 23.0 to 27.5 degrees celcius
5. Saponification Value - 169 to 177
6. Unsaponifiable matter - 1.2%max
7. Refractive Index at 40 Degree Cel. - 1.4646 to 1.4662
8. Test for Argemone oil - Negative
9. Test for mineral oil - Negative
10. Percentage of natural oil content (as ATC) weight percentage - 0.25 to 0.60
11. Test for the presence of Hydrocyanic acid - Negative
12. Specific Gravity at 30 Deg. Celcius - 0.907 to 0.910

+/- 2%

Jaipur (within a radius of 50 km from the municipal limits)

As per directions of the Forward Markets Commission from time to time, currently -

Mondays through Fridays
Trading Hours - 10:00 am to 5:00 pm

Saturdays
Trading Hours - 10:00 am to 2:00 pm

The Exchange may change the above timing with due notice

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 of the Exchange which is not a Saturday

The Final Settlement Price (FSP) would be the simple average of the last spot (polled) prices of Kachhi Ghani Mustard Oil of the last 3 days.

Upon expiry of the contract, the delivery position would be arrived at by the Exchange based on the information to give/take delivery furnished by the sellers and buyers as per the process put in place by the Exchange for effecting physical delivery

Intention matching

On the expiry of the contract, all outstanding positions which are not intended for giving/taking of physical delivery of the commodity shall be closed out at the Final Settlement Price announced by the Exchange

Trading in any contract month will open on the 10th day of the Month. If the 10th day happens to be a non-trading day, contracts would open on the next trading day

As per launch calendar

The daily price limit will be 2% and will be raised to 4% after a 15-minute cooling period if the price limit of 2% is reached. If the price limit reaches 4%, trading will continue within the 4% limit.

Member level : Maximum of 18,000 MT or 15 % of Market Open Position in the commodity, whichever is higher
Client level: 6,000 MT

Hedge position as indicated vide Commission's letter no. 4/4/2005-NCDEX/COMPL dated 4/10/2005

Near month limit (The following limits would be applicable from 28 days prior to expiry date of a contract)

Member Level: Maximum of 6,000 MT or 15 % of total near month Open Position in the commodity, whichever is higher
Client Level: 2,000 MT

No quality allowance