The Multi Commodity Exchange of India Ltd has finalised the futures contract details of six commodities - gold, silver, castor seed, cotton, rubber and pepper. All the contracts will be physical delivery based.
Commodities will be traded five days a week, Monday to Friday, between 11am and 4 pm. The delivery points and contract specifications will differ in each commodity.
Opening of contracts trading in a contract shall open on the 16th day of the month. If 16th of the contract month is a holiday, opening will be done the next trading day.
While gold will be traded per 100 grams, the quotation or base value will be per 10 grams and the maximum order size will be 5 kilogram.
The tick size would be 25 paise and a 4 per cent price band will be applicable. The delivery unit will be 100 grams and the delivery centre will be Mumbai (within municipal limits).
Tender and delivery period will be between the 8th day and 15th of the delivery month.
During this period, custody receipt can be tendered for settlement at closing price of the previous day.
The due (expiry) date will be the 15th day of the delivery month. In case 15th of the contract month is a holiday, then previous working day will be the due day for delivery.
Only gold of 99.9 per cent purity of any South African brand such as Johnson and UBS, etc. will be mandatory for delivery with the grade fine gold and fineness:999.
The gold shall be stamped as with the standard, known as `Hallmark' by BIS recognised assaying and hallmarking centres only.
Contract specification for silver will be almost identical to gold. However, trading unit in case of silver would be 10kg with a base value of 1kg.
A maximum order of 300kg will be allowed to be traded with a tick size of 25 paise and a price band of 4 per cent.
The delivery unit will be in 10 kilograms within Mumbai limits. The quality specification is for grade 9999 and fineness 999.9.
In case of cotton trading the unit shall be 11 bales (18.7 quintals) with quotation/base value 1 bale (170 kg) and a maximum order size 110 bales (187 quintals) will be allowed. The tick size would be 10 paise with a price band of 4 per cent.
Price quote will have to be ex-Ahmedabad (inclusive of all taxes and levies). Cotton will have to be delivered in unit of 11 bales (18.7 quintals) within the municipal limits of Ahmedabad.
The quality parameters entail staple (mm) 24 to 29 (basis:26) of fully good to extra superfine (basis :fine) grade with Macronaire 3.3 to 4.5 (basis: 3.6 - 4.2) and a strength (G/Tex.) of 18 and above (basis: 18).
In case of castor seed the trading unit will be 1 MT and the quotation/base value would be 100 kg. Maximum permitted order size will be 100 MT and it will be traded at a tick size of 10 paise.
The delivery unit will be 1 MT within the municipal limits of Ahmedabad. Quality certification sample shall be approved be either approved warehouses or approved inspection agency
The quality specifications include special characteristics of 24 to 29 (basis:26) with permissible foreign matter up to a maximum 2.0 per cent, immature shrivelled & dead seeds up to maximum 2.0 per cent, broken seeds up to 0.5 per cent, other oilseeds up to. 0.5 per cent, damaged discoloured seeds up to 5.0 per cent, weevilled seeds up to 1.0 per cent, moisture up to 7.0 per cent and free fatty acid - acceptable up to 1 per cent - 2 per cent
In case of rubber the trading unit will be 1 MT and the quotation/base value would be 100 kg. Maximum permitted order size will be 50 MT and it will be traded at a tick size of 50 paise.
The delivery unit will be 1 MT within the municipal limits of Kottayam. QCS shall be approved be either approved warehouses or approved inspection agency.
The delivery will have to be of ribbed smoked sheets 4 (RSS 4) according to the international grade descriptions of sheet rubber.
In case of pepper the trading unit will be 1 MT and the quotation/base value would be 100 kg.
Maximum permitted order size will be 30 MT and it will be traded at a tick size of 50 paise. The delivery unit will be 1 MT within the municipal limits of Ernakulum.
QCS shall be approved be either approved warehouses or approved inspection agency. The delivery will have to be of Malabar garbled black pepper well dried with permissible mould up to 1 per cent, free from oil wash, with light pepper permissible up to 2 per cent, moisture up to 12 per cent with a tolerance of 0.5 per cent during monsoon and extraneous matter permissible up to 0.5 per cent.
© 2026