The National Multi Commodity Exchange of India Ltd (NMCE) has announced modification in the castorseed contract, thereby making it deliverable as per the required market specifications. NMCE had constituted a Trade Advisory Committee (TAC) on castorseed for reviewing all the existing contract parameters of the contract and make them deliverable.
The changes in the specifications were necessary to achieve wider participation from all the stakeholders. Currently, three futures contracts for November, December and January 2017 are active. The February 2017 series will be offered as per the delivery specifications.
Researchers performed an experiment to synthesize castor oil based biothiols with good stability for use in photoinitiator free UV coatings. Castor oil based biothiols were synthesized via esterification reaction between castor oil (CO) and 3-mercaptopropionic acid (MPA).
Characterization studies showed that the targeted oligomer was successfully prepared. Finally, the UV-curable films of CO-SH also showed good physical and chemical properties.
The Special Economic Zone in a’ Duqm (SEZD) celebrated the laying of the foundation stone for OMR24 million Sebacic Oman Refinery Company for the production of Sebacic acid which is the first project of its kind in the Middle East.
The project will be built on a land area of about 400,000 square meters to produce the Sebacic acid, which is extracted from castor oil and enters in many of the chemical industry, manufacturers of plastics and medicines.