A potato producer could use potato futures contracts to lock in a future sale price for potatoes, while a speculator could buy and sell potato futures to profit from price changes. The document then provides background on the development of commodity derivatives markets in India, including a historical overview of commodity trading beginning in the late 1800s and the banning of options trading between 1952-2002. It discusses the establishment of electronic commodity exchanges beginning in 2003 and provides operational details about the Multi Commodity Exchange of India (MCX), one of the largest commodity exchanges in the country.