Updated By: LatestGKGS Desk
India's First Agri Options Contracts in Guar Seed on NCDEX features, details
Finance Minister Launched India’s First Agri Options Contracts in Guar Seed
Union Finance Minister, Arun Jaitley launched India’s First Agriculture Commodity Options Contracts in Guar Seed on 14th January 2018 in New Delhi.
Finance Minister, Arun Jaitley, proclaimed that the ‘options’ trading in guar seed on the commodity exchange NCDEX (National Commodity & Derivatives Exchange Limited) will help and advantage Indian farmers to secure with the best prices for their commodities in future.
Arun Jaitley also informed NCDEX has launched Mandi.com, a mobile app for farmers where they can engage themselves in learning & educating more about ‘options’ and the ‘commodity markets’.
Options are derivatives which provide a purchaser the right to purchase or sell an underlying asset at a specific price on or before a certain date but not the commitment to do so.
NCDEX will be the second exchange after MCX (Multi Commodity Exchange Limited) to launch options trading in commodities. Earlier, MCX has launched Gold option in October 2017.
Arun Jaitley added that the NCDEX Agri-options is the vital tool which will contribute to the Prime Minister’s vision of maximizing double the farmer’s incomes by 2022.
