DGCX in Discussions with Trading Community on Potential Listing of Black Pepper Futures Contract

The Dubai Gold and Commodities Exchange (DGCX) today announced that it is in talks with its members and the wider trading community on the potential listing of a Black Pepper Futures contract. The discussions were initiated following a virtual meeting between Ahmed Bin Sulayem, Chairman of DGCX, and Ahmad Sultan Bin Harib Alfalahi, the UAE’s Commercial Attaché to India, to strengthen the bilateral relations between the UAE and India, and the major role that DMCC plays in the trade relationship.

Ahmed Bin Sulayem, Chairman of DGCX, said: “Black pepper is one of the most prevalent spices exported and traded from India. The potential listing of a Black Pepper Futures contract on the DGCX would not only add great value to investors and traders in the region, but further position the UAE as the global gateway for commodities trade. These discussions mark a significant step to strengthening ties between the UAE and India, and we are confident they will lead to further trading opportunities between the two nations in the future.”

In 2013, the Dubai Multi Commodities Centre (DMCC) held the first edition of the International Pepper Conclave (IPC) to provide opportunities for producers, importers, exporters, manufacturers, and retailers to strengthen relations. The DMCC plans to host the IPC again in the near future.

Les Male, CEO of DGCX, said: “We are excited to have entered into preliminary discussions with our trading community on the listing of a Black Pepper Futures contract. Black pepper is the ‘king of spices’, and one of the most traded agricultural products internationally. Given its high demand, we firmly believe that this product would be highly attractive to both our retail and institutional participants by ensuring effective price risk hedging and price discovery.”

About DGCX:

The Dubai Gold & Commodities Exchange (DGCX) is the region’s leading derivatives exchange and has played a pioneering role in developing the regional market for derivatives trading, clearing and settlement. 

The DGCX owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DGCX & DCCC are regulated by the Securities & Commodities Authority (SCA). It is recognised as a licensed Central Clearing-Counterparty (CCP) by SCA and a Third-Country CCP by European Securities Markets Authority (ESMA).

The DGCX’s strategic geographic location in Dubai between the Far East, Europe and Africa serves as a unique, global window for traders and investors. With over 100 members across the world, the DGCX drives liquidity in the market by offering a broad range of futures and options contracts covering base and precious metals – including the world’s only Shari’ah Compliant Spot Gold Contract – hydrocarbons, equities and currencies.

For further information please contact:

Daniel Chinoy

Weber Shandwick PR

Tel: +971 50 255 3402

Email: DChinoy@webershandwick.com