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Singapore SMX to launch black pepper futures
Posted by Labels: Futures Spices, PepperBy Sameer Mohindru
SINGAPORE (MarketWatch) -- The Singapore Mercantile Exchange plans to launch trading in black pepper futures in the next few weeks, its chief executive, Vaidyalingam Hariharan said Monday.
"The entire infrastructure is ready and all approvals are in place but Vietnam's next black pepper harvest is due only by early February and we are keen to synchronize the launch with market arrivals," Hariharan told Dow Jones Newswires.
He said the contract will be denominated in U.S. dollars and physical deliveries will be made to bonded warehouses in Vietnam.
He said the contract size is likely to be 5 metric tons and the underlying grade will Vietnamese black pepper with a density of 550 grams/liter
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