The National Commodity Exchange (NCDEX), India’s agricultural commodity exchange, introduced India’s first sector codes on agro-commodity locations such as GUAREX and SOYDEX.
GUAREX and SOYDEX are said to be India’s first income-based agricultural futures index in agro-products.
Key Facts:
- *It has been reported that these codes will be available on the NCDEX website to indicate the performance of the Guar complex and soy complex. Futures trading on these indices will start later.
- GUAREX – This is a revenue-based index that tracks the real-time change in the prices of futures contracts for quart seed and quartz refined splits.
- SOYDEX – It will also detect price changes in futures contracts for soybean and refined soybean oil.
- GUAREX contains 63.43 percent quart seed and 36.57 percent quart gum refined splits.
- SOYDEX, soybean and refined soybean oil weigh 67.92 percent and 32.08 percent, respectively.