Multi Commodity Exchange of India (MCX): derivatives exchange in Mumbai
Mumbai-based MCX is a multi-commodity derivatives exchange. Mumbai, India · Indian derivatives on cotton and selected crop commodities.
AGR-061 · Derivatives exchange · Mumbai, India · INR
Indian derivatives on cotton and selected crop commodities
Mumbai-based MCX is a multi-commodity derivatives exchange. This agricultural entry identifies the verified product pages for COTTON cotton and MENTHAOIL mentha oil. It does not catalogue the metals and energy divisions or claim to list every historical agricultural contract. Indian textile businesses, cotton exporters and buyers of botanical oils can use the exchange as a reference for local quality and rupee-denominated pricing. MCX should be distinguished from the physical wholesale markets administered by Mumbai APMC.
The COTTON specification applying from November 2025 contracts states a trading unit of 25 bales and a quotation per 170-kilogram bale. The delivery unit is a separate parameter. The product page also provides a specification from November 2026, so a user must select the document applying to the particular expiry. The mentha oil page likewise contains successive specifications, including one from June 2026. Matching the commodity name alone is insufficient when comparing contracts or physical supply quotations.
A cotton buyer should connect the quoted price with fibre length, micronaire, strength, moisture and the release location. Converting the quotation to a price per kilogram is useful only after accounting for bale weight and quality. A mentha oil buyer should specify chemical composition, sampling procedure, packaging and the analytical certificate independently. In both industries, a practical first step is to ask a broker about the relevant expiry, actual trading activity and delivery support. The last transaction displayed on a screen may differ from an executable offer for a larger quantity, particularly in a thinly traded contract.
A seller needs to distinguish price hedging from introducing physical goods into the exchange delivery system. Present the intermediary with the quantity, stock location and intended selling date, then establish the costs of storage, testing and transport to an approved point. A business that does not intend to make exchange delivery should agree how its position will be closed before the relevant deadlines. Brokerage charges, margin requirements and possible cash calls also belong in the commercial calculation. Public market data provide a useful observation point, but the applicable contract specification and account terms determine what the business can actually do. Keep the exchange transaction and the underlying customer or supplier contract identifiable in internal records.
What is priced: Coffee, cocoa, tea, sugar, cotton, rubber and spices, Vegetable oils and olive oil
Where to find the prices
Products and quotations
Cotton — COTTON; Mentha oil — MENTHAOIL
Key figures
- COTTON futures trading unit: 25 bales (Specification from Nov 2025). One contract parameter; not exchange volume.
- Bale mass used in price quotation: 170 kg (Specification from Nov 2025). COTTON; price in INR per bale.
Sources
- MCX — cotton specification
- MCX — mentha oil
- MCX — cotton and successive specifications
- MCX — market watch
All agricultural exchanges, markets and price sources
