October 13 to 25: 1000 tons of red chillies traded at PMEX platform

Due to subsidy payment by Sindh Enterprise Development Fund (SEDF), farmers were able to sell about 1000 tons of red chillies in only 10 days at Pakistan Mercantile Exchange (PMEX) trading platform, it is learnt. The trading of red chillies under this contract started from October 13 and about 1000 tons of red chillies had been traded at PMEX platform till October 25, 2016.
Under the pilot project of red chilli contract, 600 tons was traded at PMEX trading platform last year. For the current year, there is a target to trade as many as 6000 tons of red chilli at this platform. The SEDF has allocated Rs 15 million, out of which subsidy would be given to the farmers. The subsidy would be released in six installments and each installment would be given after trading of every 1000 tons of commodity. Red chilli is the first ever spice listed at the Pakistan Mercantile Exchange. Kunri is the main area of red chilli production and it is called the red chilli capital of Asia. The production of red chilli only in Kuneri area is around 100,000 tons per annum.