06/04/2017 (Hindu Business Line) - The newly launched RBD (refined, bleached and deodorised) palmolein futures contract on MCX attracted trading interest of ₹23 crore on Wednesday. The open interest was for 700 tonnes today, while volumes stood at 4,160 tonnes in the first session of trading for the contract.

In a bid to strengthen its presence in agriculture commodities, MCX launched RBD palmolein for delivery in May, June and July for trading with 10 tonnes as the trading unit and Kandla (Gujarat) as the basis centre. The transaction charge is ₹1 per ₹1 lakh of turnover.

The new RBD Palmolein futures contract, along with the existing crude palmoil contract, is expected to benefit refiners, importers and palmolein end users, said the exchange in a statement on Wednesday.

Crude palmolein recorded a turnover of ₹136 crore with open interest of 1.02 lakh tonnes and volume of 26,260 tonnes on Wednesday.