NCDEX modifies norms for maize contracts expiring in October and later.

NCDEX has modified specifications for maize contracts expiring in October and after. The October contract available for trading from Jun 1. quality specification for delivery of the grain state that a maximum of 1% of fungus allowed. The clause for fungus-affected grains has been added to garner a large set of value chain participants, to encourage deliveries and to make available a futures contract that suits their hedging requirement. Chhindwara has been added as an additional delivery centre, as Madhya Pradesh is the second-largest producer of maize and the Chhindwara belt harvests a large produce. There no premium or discount offered on the basis of quality.