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Click Here - Futures Contract Specifications. (Applicable for contracts expiring in January 2010 and thereafter)
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Futures Contract Specifications. (Applicable for contracts expiring in January 2010 and thereafter)
Type of Contract Futures Contract Specifications
Name of Commodity Castor seed
Ticker symbol CASTORSEED
Trading System NCDEX Trading System
Basis Ex-warehouse Deesa, exclusive of sales tax/VAT
Unit of trading 10 MT
Delivery unit 10 MT
Quotation/base value Rs. Per Quintal (100 kg)
Tick size Re. 0.50 (50 Paise)
Quality specification Castor Seed (Gujarat small seed) with the following specifications:

Oil content 47% basis
Foreign matter and damaged seeds 3% basis
Moisture content 4.5 % max

Acceptable quality variations at the time of taking physical delivery shall be applicable as per annexure to the contract specifications
Quantity variation +/- 2 %
Delivery center Deesa (upto the radius of 50 km from the municipal limits)
Additional delivery centres Bhabhar, Kadi, Palanpur, Patan (upto the radius of 50 km from the municipal limits) with location wise premium/discount as announced by the Exchange from time to time
Trading hours As per directions of the Forward Markets Commission from time to time, currently -
Mondays through Fridays: 10:00 a. m. to 5:00 p.m.

Saturdays: 10.00 a.m. to 2.00 p.m.


The Exchange may change the above timing with due notice
Due Date/ Expiry Date 20th day of the delivery month

If 20th happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange, which is not a Saturday
Delivery Specification Upon expiry of the contract all outstanding positions will result in delivery.

The penalty structure for failure to meet delivery obligations will be as per circular no. NCDEX/TRADING-086/2008/216 dated September 16, 2008.
Delivery logic Compulsory delivery
Closing of contract Upon the expiry of contract all outstanding open positions would result in physical delivery
Opening of Contracts Trading in any contract month will open on 10th day of the month. If the 10th day happens to be a non-trading day, contracts would open on next trading day
No. of active contracts As per launch calendar
Price limit Daily price fluctuation limit is (+/-) 3%. If the trade hits the prescribed daily price limit there will be a cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter, the price band would be raised by (+/-) 1% and trade will be resumed

If the price hits the revised price band (4%) again during the day, trade will only be allowed within the revised price band. No trade / order shall be permitted during the day beyond the revised limit of (+/-) 4%
Position limits Member level: 15,000 MT or 15 % of Market Open Interest whichever is higher
Client level : 5,000 MT

The above limits will not apply to bona fide hedgers. For bonafide hedgers, the Exchange will, on a case to case basis decide the hedge limits

For near month contracts
The following limits would be applicable from 28 days prior to expiry date of contract
Member: Maximum of 3,000 MT or 15 % of the market-wide near month open position, whichever is higher
Client: Maximum of 1,000 MT
Premium/Discount Quality variations shall be accepted with discount as under:

Oil Content:
• From 45% to 47% accepted at discount of 2:1 or part thereof,
• Below 45% rejected

Foreign matter and damaged seeds:

• From 3% to 6% accepted at discount of 1:1 or part thereof,
• Above 6% rejected

Special Margin In case of additional volatility, a special margin at such other percentage, as deemed fit, will be imposed in respect of outstanding positions, which will remain in force as long as the volatility exists, after which the special margin may be relaxed

Example for Oil content discount:
Oil content in Castor Seed below 47% but within 45 % will attract discount. For every 1% decrease in oil content or part thereof, there will be a discount of 2 % or part thereof in price.

Tolerance limit for outbound deliveries of Castor seed
Commodity Specifications Deposit Deliverable Range Remat (Out bound Delivery)
Oil content 47% basis From 45% to 47% accepted at discount of 2:1 or part thereof, Below 45% rejected +/- 0.25%
Foreign matter and damaged seeds 3% basis From 3% to 6% accepted at discount of 1:1 or part thereof,
Above 6% rejected
 +/- 0.25%
Moisture content 4.5% max
Maximum Tolerance (for all characteristics) +/- 0.50%


Contract Launch Calendar :
Contract Launch Month Contract Expiry Month
September 2009 January 2010
October 2009 February 2010
November 2009 March 2010
December 2009 April 2010
January 2010 May 2010
February 2010 June 2010
March 2010 July 2010
April 2010 August 2010
May 2010 September 2010
June 2010 October 2010
July 2010 November 2010
August 2010 December 2010



Contract Launch Calendar of Castorseed :-
Contract Launch Month Contract Expiry Month
September 2010 January 2011
October 2010 February 2011
November 2010 March 2011
December 2010 April 2011
January 2011 May 2011
February 2011 June 2011
March 2011 July 2011
April 2011 August 2011
May 2011 September 2011
June 2011 October 2011
July 2011 November 2011
August 2011 December 2011






Members and market participants who enter into buy and sell transactions may please note that they need to be aware of all the factors that go into the mechanism of trading and clearing, as well as all provisions of the Exchange's Bye Laws, Rules, Regulations, Product Notes, circulars, directives, notifications of the Exchange as well as of the Regulators, Governments and other authorities.

Members and market participants trading on the Exchange in the commodity contracts shall be deemed to be aware of applicable laws and amendments thereof from time to time, including provisions and rates relating to the sales tax, value added tax APMC Tax, Mandi Tax, octroi, excise duty, stamp duty, etc., applicable on the underlying commodity of any contract offered for trading.

The Exchange shall not be responsible or liable on account of non compliance by any of the members and market participants of any such applicable laws or any amendments thereof including not being aware of rates of taxes, levies, etc., on the underlying commodity of any contract offered for trading.