India’s NCDEX launches futures contract in thermal coal
By making the pricing for coal more transparent, NCDEX hopes that its coal futures contract will become an effective hedging tool across the coal sector, where price volatility has been over 40% in the last two years.
India is reliant on coal for over 50% of its energy needs. As the world’s third largest coal producer with an annual production of 450 million metric tons, the country meets around 90% of its domestic demand, importing 10% or around 40 MMT.
NCDEX, India’s second-biggest commodity
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