NMCE addresses stakeholders concerns

KOCHI: The National Multi Commodity Exchange of India, in association with the Forward Markets Commission (FMC), recently organised a meeting here to address the concerns of its stakeholders.Senior officials from Rubber Board, Spices Board, NMCE, producers, Cooperative Society, Central Warehousing Corporation (CWC), Rubber User Industry, banks, traders and broker members were present on the occasion.During the meeting, it was revealed that the NMCE’s participation in rubber futures has been growing and the warehousing capacity for rubber has increased to about 30,000 MT. Over 12,000 MT of rubber was stocked this year, which is the maximum quantity ever stocked. This could have increased but there was shortage of storage space which has been increased now. Traders and packers said that overall doping was done within limit. Some unscrupulous traders might have used excess doping, which can now be identified through a traceability programme that would be introduced by the CWC and the NMCE soon.S Mohan Chandran Nair, director of Rubber Board, laid emphasis on quality and packing improvement of rubber. Special emphasis was given to doping and on the ways to reduce its usage. It was decided that the CWC would be given sample sheets which would show acceptable range of doping. It was decided that awareness drives should be conducted on this aspect in which the NMCE and the CWC would also participate along with Rubber Board. Charles J Kithu, director of Spices Board, offered to provide grading and processing facility in Vandanmedu for black pepper and cardamom.  NMCE Managing Director Anil Mishra asked the members whether Vandanmedu should be declared as additional delivery centre for black pepper at par with Kochi basis centre. The members approved of the proposal.