MCX Launches Crude Sunflower Oil Futures Contracts

Multi Commodity Exchange of India (MCX) has introduced futures contracts on crude sunflower oil to help importers, refiners, processors, and traders manage price risks in a segment where India meets most of its requirement through imports.

The country's annual crude sunflower oil consumption is estimated at around 3 million tonnes, with nearly 2.8 million tonnes met through imports. Sunflower oil accounts for approximately 9 per cent of the country's edible oil consumption.

MCX Managing Director and CEO Praveena Rai said, 'The introduction of the Crude Sunflower Oil futures contract will provide market participants with a transparent and efficient exchange-traded mechanism to manage price exposure, while strengthening the development of the domestic edible oil market.'