ICEX to launch `ginger contract' for Nagaland

Indian Commodity Exchange (ICEX) has officially announced to launch a
contract for ginger crop in Nagaland in the month of May 2011. Ginger is
an important cash crop of Northeast region. Annual production of ginger
in northeast region totals around 3 lakh tonnes. Indigenous cultivars
grown in Nagaland, where it is a 9-month crop, include Vichii, Nadia and
Nagaland local. Its harvest peaks during November – January, while
planting is done during February - April. Nagaland accounts for around
3% of total national production of ginger. Launching of Ginger Contract
for Nagaland will help locals to hedge their produce in futures market.
This announcement was made by Sh Anjan Mandal, Head-Agriculture, ICEX
during a commodity awareness program held at Dimapur. Mr Mandal informed
that ICEX currently is in the process of studying ginger market in
Nagaland.

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