| Type of Contract |
Futures Contract Specifications |
| Name of Commodity |
Turmeric |
| Ticker symbol |
TMCFGRNZM |
| Trading System |
NCDEX Trading System |
| Basis |
Unpolished turmeric fingers Nizamabad quality ex warehouse Nizamabad inclusive of Sales Tax/VAT |
| Unit of trading |
10 MT |
| Delivery unit |
10 MT |
| Quotation/base value |
Rs. per Quintal |
| Tick size |
Re. 1 |
| Quality specification |
Unpolished turmeric fingers of the current year with the follow specifications as the basis
Unpolished turmeric fingers #
- Inferior quality Turmeric* should not be more than 1.5%
- Length
- Fingers that are broken/those less than 15mm should not be more than 3.0%
- At least 75% of turmeric should be more than 3 cm in length
- Damage due to moisture (i.e. Lokhandi) or over boiling (i.e. Kadh) should not be more than 1.2%
- Unboiled or less boiled turmeric should not be more than 0.3%
- Bhusa, chaff dirt, earth clods and stones should not be more than 0.75%
- Bulbs should not be more than 3%
- Moisture
- Basis 12%
- Allowed at 1:1 discount upto 13%
- Turmeric should be free from fungus
- Turmeric should not be artificially coloured with dyes or chemicals
#Farmer polished turmeric will be treated as good for delivery at 'on par' basis
* Chora/atthu finger, khota gatha, markha |
| Also Deliverable |
The following qualities will be acceptable at Exchange specified premium/discount
- Only farmer polished fingers will be acceptable in case of Rajapore, Desi Cuddapah, Erode and Salem qualities
- Farmer polished fingers/unpolished fingers will be acceptable in the case of Duggirala and Warangal qualities
|
| Quantity variation |
+/- 2% |
| Delivery center |
Nizamabad (up to the radius of 50 Km from the municipal limits) |
| Additional delivery centres |
Sangli, Erode, Duggirala and Warangal (up to the radius of 50 Km from the municipal limits) with location wise premium/discount as announced 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 change 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 of the Exchange, which is other than a Saturday. |
| Delivery logic |
Compulsory delivery |
| 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. |
| 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. |
| 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: 9,000 MT for all contracts or 15% of market wide open position whichever is higher.
Client: 3,000 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
For near month contracts:
The following limits would be applicable from 28 days prior to expiry date of a contract
Member: Maximum of 1,800 MT or 15% of market wide open interest in near month whichever is higher
Client: Maximum of 600 MT |
| Special margins |
In case of additional volatility, a special margin at such other 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 |
