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Symbol |
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JEERA |
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Description |
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JEERAMMMYY |
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| Contracts Available for Trading |
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January Contract |
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16th October of the earlier year to 15th January of the contract year |
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February Contract |
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16th November of the earlier year to 15th February of the contract year |
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March Contract |
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16th December of the earlier year to 15th March of the contract year |
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April Contract |
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16th January to 15th April of the contract year |
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May Contract |
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16th February to 15th May of the contract year |
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June Contract |
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16th March to 15th June of the contract Year |
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July Contract |
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16th April to 15th July of the contract year |
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August contract |
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16th May to 14th August of the contract year |
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September contract |
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16th June to 15th September of the contract year |
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October contract |
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16th July to 15th October of the contract year |
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November contract |
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16th August to 15th November of the contract year |
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December contract |
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16th September to 15th December of the contract year |
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Trading Period |
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Monday through Saturdays |
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Trading Session |
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Monday to Friday:
1st session: 10.00 am to 5.00 pm
2nd session: 5. 30 pm to 8.00 pm
Saturdays:
11.00 am to 2.00 pm |
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| Trading |
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Trading Unit |
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2 MT |
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Quotation/Base Value |
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1 kg |
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Maximum Order Price |
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50 MT |
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Tick Size (minimum price movement) |
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10 paise |
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Daily Price Limits |
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4% |
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Price Quote |
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Ex-Unjha (exclusive of all taxes) |
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Initial margin |
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5 % |
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Special Margin |
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In case of additional volatility, a special margin at such percentage, as deemed fit, will be imposed immediately on both buy and sell sides in respect of outstanding position, which will remain in for 3 days, after which the special margin be relaxed. |
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Maximum Allowable Open Position |
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For individual clients: 1000 MT
For a member collectively for all clients: 12.5 % of the open market position |
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| Delivery |
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Delivery Unit |
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10 MT and multiple thereof (with tolerance limit of 500 Kg) which means that if the seller delivers any quantity between 9.5 Mt and 10.5 MT, it will be construed as adequate discharge of his delivery obligation of 10 MT, though he will get the value only for the actual quantity delivered by him. |
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Delivery Center(s) |
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Exchange designated warehouse within Unjha municipal limits |
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Quality Specifications and Delivery Standards |
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Indian origin Cumin Seed (Jeera) of FAQ |
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Stalk |
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Maximum 15.0% |
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Damaged, immature, shriveled, weevilled and white seed |
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Maximum 3.0% |
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Foreign matter |
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Maximum 3.0% |
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Test weight |
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Minimum 480g / hl |
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Moisture |
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Maximum 10% |
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Packaging |
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60 kg New Bags |
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Top |
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Delivery and Settlement Procedure of Jeera |
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Tender & Delivery period |
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Between the 11th day and the 15th day of the expiry month. |
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Date of Intimation by Buyer and Seller |
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On 10th of the expiry month by 3.00 p.m.
Tender days 11,12,13 & 14th of the expiry month. |
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Tender Days |
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11,12,13 & 14th of the expiry month. |
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Delivery logic |
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Seller's option If seller does not wish to deliver then the open position will be settled as per due date rate. However if a seller has submitted his intention to deliver and thereafter he fails then a fine of 5% is levied, out of which 90 % will go to the buyer. |
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Delivery Period Margin |
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25% on the Outstanding Position. |
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Exemption of Delivery Period Margin. |
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Delivery Period Margin is exempted if Goods tendered on designated tender days of the contract month along with all the documentary evidence. |
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Buyer's Obligation |
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Buyers willing to take delivery will be required to give their intention on 10h day of the Contract month by 3 pm. In respect of allocation of delivery, priority will be given to those buyers who have given such intention. However, delivery can be allocated to other buyers also, who have not given their intention to take delivery and therefore, the buyers can give their intention on subsequent days also during the contract period. If the buyer fails to make payment for the delivery allocated to him, a penalty of 5 % will be imposed on him, out of which 90 % will be passed on to the seller tendering delivery. Further, the Buyer will not have any option about choosing the place of delivery and will have to accept the delivery as per allocation made by the Exchange. |
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Tender Notice by Sellers |
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The Seller will issue tender notice with evidence of delivery to the exchange in a specified format along with the Warehouse Receipt. Members shall not square off his outstanding position to the extent of tendered quantity. |
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Dissemination of Information on Tendered Delivery on Trader Work Station. |
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The Exchange will keep on disseminating information regarding tender and delivery intentions received from the buyers and the sellers on10th of the expiry month at 5.00 p.m. |
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Delivery Order |
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Delivery Order will be submitted in specified format giving details of Members / Registered Non-Members who shall perform delivery. It will be accompanied by a valid Warehouse Receipt, Invoice and Good Delivery Quality Certificate from Exchange designated Certifier as per Contract Specifications. Delivery order once submitted cannot be withdrawn or cancelled or changed unless so agreed by MCX in writing. Members tendering the delivery order shall clearly specify the grade and shall be in conformity with the surveyor's certificate accompanied with the delivery document and cannot be changed subsequently. Each delivery order issued shall be in multiples of minimum delivery lots and shall be designated for only one delivery center and one location in such center. The seller shall not issue delivery order at a place where there is restriction against movement of goods. In case, the seller is unable to give permit to the buyer, the same would be treated as No-Delivery and he shall be liable to pay such penalty as may be applicable for failure to tender delivery. |
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Mode of Communication |
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Fax or Courier |
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Allocation of Delivery |
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First amongst the willing Buyers and then amongst the other Buyers. Done on 11th, 12th, 13th & 14th day of the contract month after closure of market. |
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Delivery Order Rate |
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As per the closing rate on the date of Delivery Allocation. |
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Pay-in (Funds) for Delivery. |
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T+2 by 11.00 a.m. T day means date of delivery allocation. |
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Funds and Delivery Payout. |
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T+2 by 2.00 p.m. |
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Delivery Center |
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Deliveries can be effected from Exchange designated warehouse which may be CWC or private warehouse. The address of Exchange designated private warehouse is as under:
White Water Park (India) Ltd.,
Near Sardar Society,
Methodia Road,
Unjha - 384170
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Transfer of Delivery |
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Warehouse receipts shall be endorsed in the name of the buyer after the Pay-in and Pay-out procedures are completed. |
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Close out of Open Positions and Penalty on defaulter |
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TAll outstanding positions on the expiry of contract, not settled by way of delivery in the aforesaid manner, will be settled as per the Due Date Rate. |
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Legal Obligation |
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The members will provide appropriate tax forms wherever required as per law and as customary and neither of the parties will unreasonably refuse to do so. |
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Taxes, Duties, Cess & Levies |
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Price is exclusive of all taxes. The buyer has to pay taxes as applicable at the time of taking delivery. |
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Warehouse Charges, Fumigation Charges, Insurance & Transportation charges. |
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Borne by the Seller upto Funds Pay-out date.
Borne by the Buyer after Funds Pay-out date. |
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Extension of Delivery Period |
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As per exchange decision due to a force majeure or otherwise |
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Due Date Rate |
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Exchange shall take spot prices from a panel of different entities from spot market and shall compute the daily average price. Due Date Rate will be calculated by way of taking simple average of last 3 days of the spot market prices so computed. |
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Applicability of Business |
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Rules The general provisions of Business Rules & decisions taken by FMC/ Board / Executive Committee in respect of matters specified above will apply mutatis mutandis. The Exchange may further prescribe additional measures relating to delivery procedures, warehousing, Quality Certification, Margining, risk management from time to time. In case of any interpretational dispute or clarifications the decision of the Exchange shall be final and binding on the members and others. |
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