AAAAAAAAAAAAAAAAAAAAAAAAAAA

NT Bureau
Chennai, Feb 13:

        Multi Commodity Exchange of India Ltd (MCX) commenced futures trading in coffee Robusta recently.

        Initially, MCX Robusta coffee futures contracts will be available for the months of March, May and July 2007. The contracts shall be bi-monthly. During the subsequent months September, November and January contracts will be launched.

        After a series of talks with planters, traders, processors, brokers and exporters, MCX has decided to link the trade with that in Euronext-Liffe. The basis price would link to Euronext-Liffe,giving the traders the advantage of settling at the base price. The unit of trade in Euronext-Liffe will be equivalent to 5 units of trade of MCX.

        Coffee has significant economic and social relevance in India. Although coffee accounts for only 3.1 per cent of total agricultural exports, it is one of the most important agricultural exports of India. Coffee is grown mainly in Karnataka, Tamilnadu and Kerala.