<p>Leading stock exchange NSE on Monday said it will launch its first agricultural commodity futures contract for crude degummed soybean oil on December 1.</p>.<p>The contract will facilitate the soybean oils processing and allied industries in India and overseas, a perfect hedging tool for managing their price, the National Stock Exchange (NSE) said in a statement.</p>.<p>The contract is a monthly expiry cash settled futures contract with a trading lot size of 10 metric ton (MT) and price basis as Kandla.</p>.<p>Vikram Limaye, MD and CEO of NSE, said the exchange is dedicated to deepen the Indian commodity markets by providing convenient and cost-effective onshore hedging products.</p>.<p>"India being one of the largest consumers of edible oils in the world, requires an efficient hedging mechanism for crude soybean oil as well. This product will work as a perfect price risk management tool for the market participants and the commodity ecosystem at large," he added.</p>.<p>The Solvent Extractors' Association of India (SEA) Executive Director B V Mehta said the exchange traded derivatives contracts are a very useful tool that make price risk management convenient and easy for the industry.</p>.<p>"More such futures contracts should be launched going ahead so that we can have a vibrant commodity markets ecosystem in India," he added.</p>
<p>Leading stock exchange NSE on Monday said it will launch its first agricultural commodity futures contract for crude degummed soybean oil on December 1.</p>.<p>The contract will facilitate the soybean oils processing and allied industries in India and overseas, a perfect hedging tool for managing their price, the National Stock Exchange (NSE) said in a statement.</p>.<p>The contract is a monthly expiry cash settled futures contract with a trading lot size of 10 metric ton (MT) and price basis as Kandla.</p>.<p>Vikram Limaye, MD and CEO of NSE, said the exchange is dedicated to deepen the Indian commodity markets by providing convenient and cost-effective onshore hedging products.</p>.<p>"India being one of the largest consumers of edible oils in the world, requires an efficient hedging mechanism for crude soybean oil as well. This product will work as a perfect price risk management tool for the market participants and the commodity ecosystem at large," he added.</p>.<p>The Solvent Extractors' Association of India (SEA) Executive Director B V Mehta said the exchange traded derivatives contracts are a very useful tool that make price risk management convenient and easy for the industry.</p>.<p>"More such futures contracts should be launched going ahead so that we can have a vibrant commodity markets ecosystem in India," he added.</p>