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Agriculture Marketing Information Service
Directorate of Agriculture (Economics & Marketing) Punjab, Lahore

International Commodities Sprcifications and Conversion Formulas

CBOT

Wheat

Specification
wheat Soft Red Winter

Soft, low-protein wheat used for cakes, pie crusts, biscuits, and muffins. Cake flour, pastry flour, and some self-rising flours with baking powder and salt added, for example, are made from soft red winter wheat. It is primarily traded by the Chicago Board of Trade

International Price to PKR conversion formula
Wheat is Traded in U.S. cent/Bushel at CBOT and its price is converted into Rs/100Kg
Conversion PKR price formula is: ((International price / 27.2155) X 100) X (USD Rate/100)

Corn

Specification
Yellow corn

Corn that is yellow-kerneled and contains not more than 5.0 percent of corn of other colors. Yellow kernels of corn with a slight tinge of red are considered Yellow corn.

International Price to PKR conversion formula
Corn is Traded in U.S. cent/Bushel CBOT and its price is converted into Rs/100Kg
Conversion PKR price formula is: ((International price / 25.4012) X 100) X (USD Rate/100)

Rice (Rough)

Specification
Rough Rice

Rough rice is used to describe the rice as it comes from the field after harvest. The rice has been threshed and each grain is separate. The grain of rice has a hard husk protecting the kernel inside. The husk (or hull) that covers rice is much thicker and tougher than most cereal grain husks. Rough rice is also called Paddy rice. By weight, the composition of rough rice is approximately: 22% husk (including about 2% trash), 10% bran, and 68% rice (2% of the rice are very small pieces, brewers rice, and fines). The rice portion can have varying percentages of broken kernels. A typical milling yield in California for medium grain would be described as 54/68. 54% brokens and 68% total. (14% brokens) rough rice is not as dense as milled rice and usually weighs about 37 lbs per cubic ft. Brown rice, milled rice, and brokens weigh about 52 lbs per cubic ft.

International Price to PKR conversion formula
Rough Rice is Traded in USD/cwt at CBOT and its price is converted into Rs/100Kg
Conversion PKR price formula is: ((International price / 45.3592) X 100) X USD Rate

NYMEX

Cotton

International Price to PKR conversion formula
Cotton is Traded in USD/lb at NYMEX and its price is converted into Rs/100Kg
Conversion PKR price formula is: ((International price / 0.4536) X 100) X USD Rate

Sugar

Specification
Sugar No.11

The quality that is acceptable for delivery is raw centrifugal cane sugar based on 96 degrees average polarization. This just means the sugar has been processed through a centrifuge in a certain way.

International Price to PKR conversion formula
Sugar is Traded in USD/lb at NYMEX and its price is converted into Rs/100Kg
Conversion PKR price formula is: ((International price / 0.4536) X 100) X USD Rate

NCDEX

Wheat

International Price to PKR conversion formula
wheat is Traded in INR/Quintal at NCDEX and its price is converted into Rs/100Kg
Conversion PKR price formula is: International price X INR Rate

Sugar

Specification
Sugar M grade

Sugar in crystal form manufactured by vacuum pan method with:
Moisture 0.08% Max
Polarisation 99.80% Min
ICUMSA > or = 150 ICUMSA and < 200 ICUMSA as determined by GS9/1/2/3-8 prescribed in Sugar Analysis ICUMSA Method Book
Grain Size Medium as determined by the methods prescribed in IS:498-2003

International Price to PKR conversion formula
Sugar is Traded in INR/Quintal at NCDEX and its price is converted into Rs/100Kg
Conversion PKR price formula is:  International price X INR Rate