Source of pepper traded on the floor will be taken from a bonded warehouse in Vietnam.
Today, representative of Singapore Exchange (SMX – Singapore Mercantile Exchange) said it will put the contract black pepper Delivering the world's first international futures into transactions from 10 February.
Black pepper was the first agricultural product to be traded on this floor. The leader of SMX said that the goods will come from a bonded warehouse in Vietnam – the largest pepper producing country in the world.
Indian industry officials, which allow futures trading on commodity exchanges but prohibit foreign traders, said SMX pepper contracts could provide standard prices for commodities. if this liquidity is good.
In December 2011, SMX also stated that it plans to bring industrial metals such as aluminum, zinc, lead and nickel into this year. Currently, products traded on SMX have copper, US light sweet crude oil (WTI), Brent oil, gold, silver, iron ore and currency. The floor started operating in August 2010.
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