More commodities for spot trading

Anjani Sinha (left), Managing Director and CEO of National Spot Exchange, at an interactive session in Hyderabad on Friday. Amarender Reddy, Manager, Business Development, looks on. Photo: P. V. Sivakumar

Potatoes and red chilly will be among the new 17 commodities proposed to be introduced by the National Spot Exchange Ltd (NSEL) for spot trading.

NSEL provides an electronic platform for spot trading in agriculture and non-agriculture commodities.

Anjani Sinha, Managing Director and CEO, told reporters here on Friday that among the 17 new commodities proposed for spot trading, potato trading was proposed to be taken up first and most likely from March next year.

The exchange would also expand its portfolio of offerings by 20 new products under its e-series scheme from the present three — gold, silver and copper.

He said the daily turnover from the e-series trade had increased from Rs.30 crore when it was launched about a year ago to Rs.300 crore at present. It is expected to touch Rs.500 crore by the end of the current .

The exchange plans to take on board 300 new members by January to take the total membership to 610, he said.