Live prices of BSE’s Almond Futures Contract and Currency Derivatives Rates to be broadcast
Mumbai, 24th August 2022: BSE, India’s premier exchange and the world’s fastest stock exchange, inaugurated a Ticker at Agricultural Produce Market Committee (APMC) Market, Navi Mumbai, for dry fruits. It was launched in the presence of Almond traders and various other stakeholders. The said ticker will broadcast LIVE prices of BSE’s Almond Futures Contract along with BSE’s Currency Derivatives Rates. This move will lead to increased price transparency and will help market participants in effective decision making.
Shri. Sameer Patil, Chief Business Officer, BSE said, “The launch of ticker at the APMC market will help market participants gauge overall market sentiment at any point of time. Wide dissemination of prices will be used as reference for physical market transactions which in turn will positively impact the lives of traders especially when the intensity of information needed in commodities market is increasing day by day.”
Shri. Sameer Bhanushali, MD, Ashapura Agrocomm Pvt. Ltd., congratulated team BSE for the installation of the BSE ticker in APMC Market, Navi Mumbai. He said, “This is unprecedented and one of its kind. This will create massive awareness and will result in huge participation from the trading community in the almond futures contract on BSE.”
Shri. DP Jhawar, CEO, Proventus Agro Pvt. Ltd., said, “We at ProV Foods as a healthy-snacking consumer brand led by Dry Fruits & Nuts, have always felt a gap in our ability to hedge our procurement and inventory unlike other agro-commodities and markets. We think that BSE’s introduction of the Almond derivatives contract will play a pivotal role in bringing an organized hedging platform to this arena covering the largest commodity in the segment – bolstering the growth of the overall nuts segment. We see this contract becoming a base of price discovery in the almond segment in the near future.”
BSE had launched world’s only Almond Futures Contract in June 2020, which has now successfully completed two years of trading on the exchange platform. The said contract has been extremely well received by the market participants. Since launch, BSE’s Almond Futures Contract has seen physical deliveries to the tune of 2,40,000 kgs along with 52,162 tonnes being traded aggregating to Rs. 18,659 million.