NCDEX retains leadership in castor futures with 99.96% market

The National Commodity and Derivatives Exchange Ltd (NCDEX) today said it has retained market leadership in castor seed contract with 99.96 percent market share as on date.

After the relaunch of the contract, the exchange received encouraging response from the market participants following measures taken by it in making markets safer.

Castor seed contract was relaunched on January 5 and has seen wide participation from across the entire value chain - producers, traders, processors to exporters and corporates, NCDEX said in a statement here.

Within a month of its relaunch, the open interest on the platform stood at 65,390 MT.

"NCDEX is committed to ensure good delivery of commodities on its platform. Stringent checks and audits are regularly carried out to verify the quality of stocks and ensure strict adherence to the Exchange norms. Deposits in the Exchange approved warehouses have crossed 25,000 MT in over a month since relaunch, illustrating the confidence of the depositors," it said.