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Honble Chief Minister, Haryana inaugurates Ace Derivatives & Commodity Exchange, a joint venture of HAFED & Kotak Group.
Publish Date : Dec 3, 2010

 

 
Reborn from former regional exchange; Haryana state co-op takes 15% stake. Ace Derivatives and Commodity Exchange, the first to be transformed from a regional exchange to a national multi-commodities futures trading platform, was launched today. The Kotak-anchored exchange is set to start futures trading in soybean, soyoil, rape/mustard seed, chana and castor seed tomorrow.
 
Anil Malik, Managing Director of HAFED, said that they were setting up a subsidiary to commence trade in the futures exchange (needed under the rules, as they cannot do so directly).
 
With the launch, the first set of contracts will be available for trade for delivery on November 20, December 20 and January 20. The lot size of trading is fixed at 10 tonnes of each contract.
 
The exchange has 175 registered members; in addition, 60 from the original regional exchange will also be starting trade on this platform tomorrow.
 
The objective is to integrate spot commodity trade with futures, so that farmers will get higher prices of their produce, while consumers will get commodities at a lower price, said Bhupinder Singh Hooda, chief minister of Haryana. Hafed, the state’s farmers cooperative, has taken 15 per cent stake in the exchange and also plans to hedge risk on the platform on behalf of is members.
 
As an anchor investor, the Kotak Group will have to divest its equity from 51 per cent to 26 per cent, which the Group is scouting for investors currently. The divestment will be done in due course to comply with FMC norms.Bank of Baroda, Corporation Bank and Union Bank are other investors in the exchange. Bhatia said emphasis will be laid on untapped commodities, markets and areas.

 

 
 
Hon'ble Chief Minister, Haryana Sh. Bhupinder Singh Hooda at Hafed’s stall at Jhajjar (Rohtak) on the occasion of Cooperative Day Celebrations on 22-11-2010
Publish Date : Dec 10, 2010

 
 
 
HAFED RICE MILL TARAORI Awarded International ISO 22000 Food Safety Certification
Publish Date : Apr 29, 2011
  • HAFED RICE MILL TARAORI Awarded International ISO 22000 Food Safety Certification.
 
HAFED Exports Mustard Seed Oil To U.S.A. In Addition To Its Rice In Its Own Brand Name
Publish Date : Apr 29, 2011
  • HAFED Exports Mustard Seed Oil To U.S.A. In Addition To Its Rice In Its Own Brand Name.
 
Haryana Farmers Get Certification For Organic Farming
Publish Date : Apr 29, 2011
  • HAFED Organic Grower's Group has been awarded scope certificate and IC-2 level organic certificate for 204 farmers having 400 acres area predominantly under Basmati paddy crop in the district of Kurukshetra, Kaithal and Karnal.The certificate has been awarded by Agriculture and Processed Food Products Export Development Authority (APEDA) after auditing the soil quality of the farms of the organic farmers.