Indian Commodity Exchange (ICEX), the Mumbai-based on line commodity derivatives platform that took over the National Multi Commodity Exchange (NMCE) in August, will upload black pepper and cardamom to its listing of traded commodities.

The change, which has all started trading in diamond, steel and rubber, plans to increase into plantation commodities. We will release black pepper contracts next month, accompanied by cardamom contracts, a pinnacle legit of ICEX said in a announcement.

Trading in black pepper futures on a national alternate became stopped some years ago after the seizure of mineral oil-infected pepper from warehouses.

At a meeting ICEX held with the black pepper traders, it turned into cautioned that the buying and selling lot and transport unit of pepper contracts be changed from a hundred kg to at least one tonne.

“ICEX will endeavour to make rubber and pepper charges, determined through masses of small Indian buyers sitting in Kottayam, Ernakulam, Pala, Kushalnagar and Hassan, turn out to be worldwide price benchmarks and establish Indian charges across the world,” the legit stated.

NMCE used to behavior futures trading in rubber.