January 25, 2008	Friday	Muharram 15, 1429

KARACHI, Jan 24: Pakistan’s National Commodity Exchange Limited (NCEL) is expected to start trading in its deliverable Irri-6 rice future contract possibly by the end of the next month, says a press release.

NCEL managing director Assim Jang said the launch would enable the traders in the supply chain to avert undue price risk as it would provide the level-playing field to all the players.

He said the introduction of the rice future contract was a significant step for the development of an organised commodity financing as it would introduce financial instruments such as warehouse receipts and commodity backed notes and certificates.