On Wednesday, the National Stock Exchange of India (NSE) said that the exchange has launched its first agricultural commodity futures contract on crude degummed soybean oil (CDSO Futures). The CDSO Futures contract, which was launched on 1 December, is a monthly expiry futures contract with a trading lot size of 10 tonnes and price basis as Kandla, NSE said in a statement.
The first trade was executed by 'East India Securities' and 'Budge Budge Refineries', one of the premier edible oil refiners. Day one recorded trading of more than 4,200 tonnes with turnover exceeding Rs 44.67 crore indicating the positive interest of market participants in the CDSO Futures, the statement said.
India being the largest importer of edible oils in the world, the CDSO futures contracts will be an instrument to hedge the price risk for the Soybean Oils processing and allied industries, it added.