National Stock Exchange of India Ltd (NSE) has launched its first agricultural commodity futures Contract on Crude Degummed Soybean Oil (CDSO Futures), a release issued by the exchange said.
The CDSO futures contract is a monthly expiry futures contract with a trading lot size of 10 Metric Tons (MT) and price basis as Kandla.
The exchange said that the first trade was executed by East India Securities Ltd and Budge Budge Refineries Ltd, one of the premier edible oil refiners. Day one recorded trading of more than 4200 tonnes with turnover exceeding Rs 44.67 crores indicating the positive interest of market participants in the CDSO futures, the release added.
India being the largest importer of edible oils in the world, the CDSO futures contracts shall be a perfect instrument to hedge the price risk for the soybean oils processing and allied industries, it added.