Futures Contract Specifications

Potatoes Fair Average Quality

POTATO

NCDEX Trading System

Ex-warehouse Agra gross weight exclusive of all local taxes – taxes, fees (i.e. mandi fee), levies etc.

15 MT

15 MT

Rs per quintal

10 paisa

Potato as per following specification shall be acceptable for physical delivery

Width Size (potato width size by one dimension or the other) Less than 35 mm -10% Max More than 80 mm -15% Max
Dull, Skin blemishes, Cut , Crack ( cut and cracked not exceeding 5% max), Sprouted (Sprouted content not exceeding 1% max and Sprout length more than 2 mm only to be considered as Sprouted), Black scars and Green Potatoes	15% basis
Soil (kgs per bag)	1 kgs Max per 51 Kgs bag
The potatoes should be firm and the skin should be mature and thick. The potatoes should be free from disease.

+/-10%

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

Indore and Vadodara (For all the centers up to the radius of 50 kms from the municipal limits) with locational premium/discount as announced by the Exchange before launch of contract

Agra – 3797
Indore – Jyoti and Laukar
Vadodara- Badshah and Laukar

All the varieties will be at par

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

Mondays through Friday - 10:00 AM to 5:00 PM
Saturdays - 10.00 AM to 2.00 PM

The Exchange may vary the above timing with due notice

Upon expiry of the contract, all outstanding open positions would result in compulsory 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.

Compulsory Delivery

Trading in a new month contract will open on the 10th day of the month in which the near month contract is due to expire. If the 10th day happens to be a non-trading day, contracts would open on the next trading day

Upon the expiry of contract all the outstanding open position would result in compulsory delivery

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

As per launch calendar

Daily price fluctuation limit is (+/-) 3%. If the trade hits the prescribed daily price limit there will be a cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter the price band would be raised by another (+ / -) 1% and trade will be resumed.

If the price hits the revised price band (4%) again during the day, trade will only be allowed within the revised price band. No trade / order shall be permitted during the day beyond the revised limit of (+ / -) 4%.

For Members - Maximum up to 45,000 MT or 15% of market-wide open interest whichever is higher.

For clients - Maximum up to 15,000 MT

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 twenty eight days prior to expiry date of a contract
Member: Maximum up to 9,000 MT or 15% of the market-wide near month open position, whichever is higher
Client : Maximum up to 3,000 MT

In case of additional volatility, a special margin at such percentage, as deemed fit, will be imposed in respect of outstanding positions, which will remain in force as long as the volatility exists, after which the special margin may be relaxed