India's new coal futures contract, launched on September 10 by the National Commodity and Derivatives Exchange (NCDEX), is trading 2,000 tonnes of coal a day, according to Unupom Kausik, chief business officer of NCDEX.
The exchange hopes to raise this at least fivefold within a month. "We plan to increase this to between 10,000 and 15,000 per day by next month," Kausik told Energy Risk. Longer term it has set an ambitious annual trading target of 100 million tonnes.
NCDEX estimates that 20% of In
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