The commodity futures market in India has evolved over 120 years, with the first organized exchange established in 1875. Key developments include the banning of futures trading in 1966 and reintroduction in 2003. Today, the major commodity exchanges are MCX and NCDEX, which trade over 60 commodities. Trading volumes have grown significantly in recent years compared to equity markets. The commodity markets benefit farmers, traders, and others through price discovery, risk management, and competitiveness. However, foreign and institutional participation remains limited. Overall, India's commodity markets have expanded rapidly and are expected to continue growing.
Module – I Commodity Markets and Exchanges:
Growth of Global and Domestic Commodities Derivatives Markets, Agricultural Commodities Market and Non-Agricultural Commodities Markets
Commodity Exchanges: Exchanges around the World and its Importance, Commodity Exchanges in India. National Exchanges and Regional Exchanges, platform – Structure, Exchange memebership, Capital requirements, commodities traded on National exchanges, instruments available for trading and Electronic Spot Exchanges.
Module – III Commodity Derivatives:
Commodity Derivatives: Evolution of Commodity, Derivatives, Evolution of Commodity, Derivatives in India, Types of Derivatives, Other Classifications of Derivatives, Pricing Derivatives, Derivative Markets and Participants, Economic Importance of Commodity Derivatives Markets.
Module – I Commodity Markets and Exchanges:
Growth of Global and Domestic Commodities Derivatives Markets, Agricultural Commodities Market and Non-Agricultural Commodities Markets
Commodity Exchanges: Exchanges around the World and its Importance, Commodity Exchanges in India. National Exchanges and Regional Exchanges, platform – Structure, Exchange memebership, Capital requirements, commodities traded on National exchanges, instruments available for trading and Electronic Spot Exchanges.
Module – III Commodity Derivatives:
Commodity Derivatives: Evolution of Commodity, Derivatives, Evolution of Commodity, Derivatives in India, Types of Derivatives, Other Classifications of Derivatives, Pricing Derivatives, Derivative Markets and Participants, Economic Importance of Commodity Derivatives Markets.
This ppt is prepared to provide detailed information regarding Forwards and Futures contracts of Derivatives the topics covered under this are Meaning of Forwards contracts, Underlying Assets of Forwards contracts, FEATURES OF FORWARD CONTRACTS, Tailored made, Why Forwards contracts, FUTURES CONTRACT, What is A Futures Contract, Characteristics of Futures contracts, Mechanism of Trading in Futures Market, Margin requirement, Marking-to-market (M2M), SETTLING A FUTURE POSITION, OFFSETTING, CASH DELIVERY, by Sundar, Assistant Professor of commerce.
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Commodity derivatives market, Types of commodities traded in Commodity market, Commodity exchanges in India, Multi Commodity Exchange (MCX), National Commodities and Derivatives Exchange (NCDE), National Multi Commodity Exchange of India Ltd (NMCE), How to trade in commodity futures in India, Most active commodity on MCX, Benefits of Commodity Market, Precautions and Tips.
For full text go to : https://www.educorporatebridge.com/commodities/commodity-trading Have you wondered how commodity trading works, its prerequisites, the various commodity exchanges and if commodity trading is beneficial? This article answers all these questions, read through and get yourself educated on the same.
Challenges to commodity markets in india.pptxAbha Mahapatra
o This project lists the numerous bottlenecks and hurdles in the way of a smoothly operating commodity markets. It covers Forward Contracts (Regulations) Act and its amendments in recent years, the role of Forward Market Commission in the market, various legal, regulatory, infrastructural challenges along with major initiatives taken in 2010-11
http://www.candlestickforums.com/
Basics of Commodity Trading
To trade commodities successfully traders ought to start by learning the basics of commodity trading. Trading commodities is really commodities futures trading. Producers and processors of commodities buy and sell futures contracts for delivery on a specific date during any of the next months or years. Producers and processors are typically hedging their investment risk and helping to provide a stable market for the commodity in question. Speculators can trade the samecommodity futures contracts by buying and selling futures or they can buy options and sell options on futures contracts. Commodity and futures training is a good place to start learning the basics of commodity trading. For those interested options trading in commodities markets, Options Training with Stephen Bigalow will provide basic knowledge as well as the deeper insight gained from experience trading options in commodity futures.
Commodities are the raw ingredients or components of almost everything we consume or use in our everyday life. Commodities as an asset class/investment product means tangible physical produce, that can be described as “products and/or by-products of natural resources that are directly extracted/processed and/or synthesized from their naturally occurring state,
For More Info Visit: https://capitalstreetfx.com/en
This ppt is prepared to provide detailed information regarding Forwards and Futures contracts of Derivatives the topics covered under this are Meaning of Forwards contracts, Underlying Assets of Forwards contracts, FEATURES OF FORWARD CONTRACTS, Tailored made, Why Forwards contracts, FUTURES CONTRACT, What is A Futures Contract, Characteristics of Futures contracts, Mechanism of Trading in Futures Market, Margin requirement, Marking-to-market (M2M), SETTLING A FUTURE POSITION, OFFSETTING, CASH DELIVERY, by Sundar, Assistant Professor of commerce.
Subscribe to Vision Academy for Video assistance
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
Commodity derivatives market, Types of commodities traded in Commodity market, Commodity exchanges in India, Multi Commodity Exchange (MCX), National Commodities and Derivatives Exchange (NCDE), National Multi Commodity Exchange of India Ltd (NMCE), How to trade in commodity futures in India, Most active commodity on MCX, Benefits of Commodity Market, Precautions and Tips.
For full text go to : https://www.educorporatebridge.com/commodities/commodity-trading Have you wondered how commodity trading works, its prerequisites, the various commodity exchanges and if commodity trading is beneficial? This article answers all these questions, read through and get yourself educated on the same.
Challenges to commodity markets in india.pptxAbha Mahapatra
o This project lists the numerous bottlenecks and hurdles in the way of a smoothly operating commodity markets. It covers Forward Contracts (Regulations) Act and its amendments in recent years, the role of Forward Market Commission in the market, various legal, regulatory, infrastructural challenges along with major initiatives taken in 2010-11
http://www.candlestickforums.com/
Basics of Commodity Trading
To trade commodities successfully traders ought to start by learning the basics of commodity trading. Trading commodities is really commodities futures trading. Producers and processors of commodities buy and sell futures contracts for delivery on a specific date during any of the next months or years. Producers and processors are typically hedging their investment risk and helping to provide a stable market for the commodity in question. Speculators can trade the samecommodity futures contracts by buying and selling futures or they can buy options and sell options on futures contracts. Commodity and futures training is a good place to start learning the basics of commodity trading. For those interested options trading in commodities markets, Options Training with Stephen Bigalow will provide basic knowledge as well as the deeper insight gained from experience trading options in commodity futures.
Commodities are the raw ingredients or components of almost everything we consume or use in our everyday life. Commodities as an asset class/investment product means tangible physical produce, that can be described as “products and/or by-products of natural resources that are directly extracted/processed and/or synthesized from their naturally occurring state,
For More Info Visit: https://capitalstreetfx.com/en
Private Sector Investment in Market-Supporting Institutions: The case of the ...Gcazo14
Dr. Domenico Dentoni, Dr. Liesbeth Dries - Wageningen University
Presentation held at the American Agricultural Economics Association Meeting, July 27th, 2015
Dr. P K Joshi, Director-South Asia, International Food Policy Research Institute(IFPRI) presented on “Financing Agri-value Chain Development In India – Constraints and Opportunities” at the 27th National Conference on Agricultural Marketing organized by University of Agricultural Sciences, Department of Agricultural Economics, Dharwad
Market Research Report :Cold chain market in India 2012Netscribes, Inc.
For the complete report, get in touch with us at : info@netscribes.com
Growth in organized retail and the food processing sector drives the cold chain market in India. Further shift towards horticultural crops by farmers to evade risk boosts the demand for cold chain. Rising demand for cold storage in pharmaceutical sector is also driving the growth in cold chain market. Changing consumption pattern is expected to create huge demand for cold storage in India.
The report begins with an introduction section, projecting the evolution of Cold Chain Market in India. It then shows the value chain of the cold chain market followed by its definition, segments and key activities. The different types of cold storage are then demonstrated. A flow of Cold Chain Logistics Services is also shown in this section.
Market overview section provides a brief snapshot of the Cold Chain Market. This section includes the market size of the cold chain market in India in terms of cold storage and cold transportation, demonstrating the forecasted growth over the period 2010 - 2015. The opportunities for the players in providing cold chain facilities are also illustrated. The section then gives an overview of the surface storage market. The cold storage distribution in the country has been mapped along with the commodity wise distribution. Subsequently, the number of cold storage and their capacity as on 31st Dec, 2009 has been listed. Current ranking of India’s food production w.r.t global scenario are displayed. The impact of cold chain on shelf life of fruits & vegetables has been shown. Developments in refrigeration systems in cold storage has been shown followed by the other recent developments. An overview of the refrigerated transport market is given demonstrating the refrigerated transport process.
Current & Future Scenario section deals with the investment opportunities and the private participation in cold chain market in India. Some major deals in cold chain market in India have been listed. Further some recent investments in the cold chain sector in India are also found.
Drivers & challenges section in the report provides a comprehensive set of factors which boosts and hinders the growth in the market. An analysis of the section brings forth the key drivers fueling growth in the market including growth in organized retail, shift towards horticultural crops, growth in processed food sector, demand from pharmaceutical sector and the changing consumption pattern. While the challenges identified comprises of lack of logistical support, uneven distribution of cold chains, cost structure and deficit in power supply.
Government initiative section emphasizes on the role of government in budget for cold chain sector. Further the government’s initiatives on terminal market, railways and port and shipping are also discussed. Then the schemes and the assistance by Ministry of Food Processing Industries, National Horticultur
Market Research Report : Cold chain market in india 2014 - SampleNetscribes, Inc.
For the complete report, get in touch with us at: info@netscribes.com
Abstract :
India is the second largest producer of fruits and vegetables in the world. Due to lack of adequate cold storage facilities, more than INR 100 bn worth of fresh produce is wasted every year in the country. In absence of improvements in the area of cold chain infrastructure, food wastage problem is likely to grow furthermore. More modern facilities along with planned establishment between the point of production and market can help India improve the situation, helping it lower wastage and increase profitability.
Netscribes’ latest market research report titled Cold Chain Market in India 2014 illuminates the dynamics in the domestic cold storage and chain operations. Growth in organized retail and the food processing sector drives the cold chain market in India. Further shift towards horticultural crops by farmers to evade risk boosts the demand for cold chain. Rising demand for cold storage in pharmaceutical sector is also driving the growth in cold chain market.
Table of Contents :
Slide 1: Executive Summary
Macroeconomic Indicators
Slide 2: GDP at Factor Cost: Quarterly (2011-12 – 2014-15), Inflation Rate: Monthly (Jul 2013 – Dec 2013)
Slide 3: Gross Fiscal Deficit: Monthly (Feb 2013 – Jul 2013), Exchange Rate: Half Yearly (Apr 2014 – Sep 2014)
Slide 4: Lending Rate: Annual (2011-12 – 2014-15), Trade Balance: Annual (2010-11 – 2013-14), FDI: Annual (2009-10 – 2012-13)
Introduction
Slide 5-11: Cold Chain – Overview, Cold Storage Classification, Cold Chain Logistics Services, Impact of Cold Chain on Shelf Life, Developments in Refrigeration Systems in Cold Storage, Energy-efficient Refrigeration for Food Storage,
Market Overview
Slide 12-15: Market Overview – Global, Market Overview – India, Refrigerated Transport Market
Government Initiatives
Slide 16-19: Fiscal Incentive For Investment In Cold Chain (2014-15), Recent Government Initiatives, MoFPI Scheme for Cold Chain Infrastructure Development, Other Financial Support Schemes
Assisted Cold Chain Projects
Slide 20-32: Information regarding major assisted cold chain projects approved across various states in India
Drivers & Challenges
Slide 33: Drivers and Challenges – Summary
Slide 34-38: Drivers
Slide 39-40: Challenges
Competitive Landscape
Slide 41: Porter’s Five Forces Analysis
Slide 42-46: Competitive Benchmarking
Slide 47-54: Major Public Players
Slide 55-75: Major Private Players
Recent Developments
Slide 76-77: Key Recent Developments – Cold Chain Market
Strategic Recommendations
Slide 78-79: Recommendations
Appendix
Slide 80: Key Ratios Description
Slide 81: Sources of Information
Value chain analysis of Botswana poultry industry: The case of Gaborone, Kgat...ILRI
Presented by Charity Masole, Gare K. Mphothwe and John C. Moreki at the Conference on Policies for Competitive Smallholder Livestock Production, Gaborone, Botswana, 4-6 March 2015
From the last two decades, new interesting financial development in the financial Market has been growing popularity in agriculture products, derivatives etc. Both the producers and sellers get the fair prices transparency through this mechanism. Some of the commodity derivatives are traded on exchanges. Hedgers and speculators are also finding it more comfortable to trade a derivative in commodity Market. In this paper researcher made an effort to discuss about the market, history of the market, main objectives of the market, commodity market in India and major commodity exchanges of India MCX and NCDEX.
From the last two decades, new interesting financial development in the
financial Market has been growing popularity in agriculture products,
derivatives etc. Both the producers and sellers get the fair prices
transparency through this mechanism. Some of the commodity derivatives
are traded on exchanges. Hedgers and speculators are also finding it more
comfortable to trade a derivative in commodity Market. In this paper
researcher made an effort to discuss about the market, history of the
market, main objectives of the market, commodity market in India and
major commodity exchanges of India MCX and NCDEX.
COMMODITY FUTURES AS AN INVESTMENT AVENUEAditya Arora
A report on the growth of the commodity futures market has been significant in terms of both network and volume since the inception of the market about a decade ago. At present, there is a two-level formation for Commodity Exchanges in India: Regional and Country-Wide. The regional exchanges are permitted to trade in restricted commodities (which are clearly specified for each regional exchange) and their membership is local. On the other hand, the countrywide exchanges are electronic with demutualized ownership and offer a wide bouquet of contracts for trading purposes. The three premier countrywide commodity exchanges in India are MCX (Multi Commodity Exchange), NMCE (National Multi Commodity Exchange) and NCDEX (National Commodities and Derivatives Exchange). The MCX occupies over 80% of the market share in India and finds its place in the top ten commodity exchanges in the world.
Basics of Stock Market Finance and General Operation of Commodity Market.Asit Dholakia
Presentation made on the Basic workings of Commodity Market and Stock Exchange Market.Covered the basic terminologies and some core aspects of Stock market as well as Commodity Market.
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Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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2. The evolution of the organized futures market in India
commenced in 1875 with the setting up of the Bombay
Cotton Trade Association Ltd. Following widespread
discontent among leading cotton mill owners and
merchants over the functioning of the Bombay Cotton
Trade Association, a separate association, Bombay Cotton
Exchange Ltd., was constituted in 1983.
Futures trading in oilseeds originated with the setting up of
the Gujarati Vyapari Mandali in 1900, which carried out
futures trading in ground nuts, castor seeds and cotton.
The Calcutta Hessian Exchange Ltd. and the East India
Jute Association Ltd. were set up in 1919 and 1927
respectively for futures trade in raw jute.
3. Futures markets in Bullion began in Mumbai in
1920, and later, similar markets were established in
Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta.
In due course, several other exchanges were
established in the country, facilitating trade in diverse
commodities such as pepper, turmeric, potato, sugar
and jaggery.
The futures trade in spices was first organised by the
India Pepper and Spices Trade Association (IPSTA) in
Cochin in 1957. However, in order to monitor the price
movements of several agricultural and essential
commodities, futures trade was completely banned by
the government in 1966.
Subsequent to the ban of futures trade, many traders
resorted to unofficial and informal trade in futures.
However, in India‘s liberalization epoch as per the June
4. REGULATING BODY
The commodity futures traded in commodity exchanges
are regulated by the Government under the Forward
Contracts Regulations Act, 1952 and the Rules framed
there under. The regulator for the commodities trading is
the Forward Markets Commission, situated at
Mumbai, which comes under the Ministry of Consumer
Affairs Food and Public Distribution.
Forward Markets Commission (FMC):- It is statutory
institution set up in 1953 under Forward Contracts
(Regulation) Act, 1952. Commission consists of minimum two
and maximum four members appointed by Central Govt. Out
of these members there is one nominated chairman. All the
exchanges have been set up under overall control of Forward
Market Commission (FMC) of Government of India.
5. Snapshot of Indian Commodity
Market
Two Major Commodities Exchange in
India
MCX (Multi Commodity Exchange)
NCDEX (National Commodities &
Derivatives Exchange
6. MCX (Multi Commodity Exchange)
Multi Commodity Exchange of India Ltd (MCX) is a
state-of-the-art electronic commodity futures exchange.
The demutualised Exchange has permanent recognition
from the Government of India to facilitate online
trading, and clearing and settlement operations for
commodity futures across the country.
MCX offers more than 40 commodities across various
segments such as bullion, ferrous and non-ferrous
metals, energy, and a number of agri-commodities on its
platform. The Exchange introduces standardized
commodity futures contracts on its platform.
MCX has been certified to three ISO standards
including ISO 9001:2008 Quality Management System
standard, ISO 14001:2004 Environmental Management
7.
8. National Commodity and Derivatives
Exchange
National Commodity & Derivatives Exchange Limited
(NCDEX) is a professionally managed on-line multi
commodity exchange. The shareholders of NCDEX
comprises of large national level institutions, large
public sector bank and companies.
NCDEX is a public limited company incorporated on
April 23, 2003 under the Companies Act, 1956. It
obtained its Certificate for Commencement of Business
on May 9, 2003. It commenced its operations on
December 15, 2003.
NCDEX is regulated by Forward Markets Commission.
NCDEX is subjected to various laws of the land like the
9. NCDEX headquarters are located in Mumbai and
offers facilities to its members from the centers located
throughout India.
The Exchange, as on February 9, 2012 offered
contracts in 34 commodities - comprising 23
agricultural commodities, 6 precious metals, 2
energy, 1 polymer and 2 other metals. The top 5
commodities, in terms of volume traded at the
Exchange, were Soya oil, Gaur Seed, Chana, RM
seed and Guar gum.
NCDEX the country's second largest commodity
derivatives exchange, has been listing contracts since
2003.
The NCDEX ranked number 32nd in 2010 in the
Futures Industry Association's global list of top 53
derivatives exchanges measured by volume, rising
10. As of 2011, India’s TOP commodity
exchanges are:
National Multi-Commodity Exchange (NMCE).
Multi Commodity Exchange (MCX).
Indian Commodity Exchange ICEX.
ACE Derivatives and Commodity Exchange ACE
11. Size of the Market
The trading of commodities includes physical trading of
food items, Energy and Metals, etc. and trading of
derivatives.
In the five years up to 2007, the value of global physical
exports of commodities increased by 17%while the
notional value outstanding of commodity OTC
derivatives increased more than 500% and commodity
derivative trading on exchanges more than 200%.
Agricultural contracts trading grew by 32% in
2007,energy 29% and industrial metals by 30%.
Precious metals trading grew by 3%, with higher
volume in New York being partially offset by declining
volume in Tokyo.
12. Commodity Markets have their presence in country
for over 120 yrs.
Trade in commodities has been Unorganized in
Regional markets & Local Mandis.
Trading in Futures Contracts has been permitted in
over 120 commodities.
Physical commodity market size in India is estimated
to be around 25 lakh core per annum.
Major commodities traded in India are -
Gold, Silver, Crude
Oil, Copper, Guar, Chana, Spices, among the few.
13. Ban in forward trading from mid-sixties
Prior to ban
Thriving commodity exchanges for
cotton, gold, edible oils etc.
more than 20 regional commodity specific
exchanges
Recent developments
Ban completely lifted in 2003
Emergence of national level de-mutualised online
multi-commodity exchanges
3 National and 21 regional exchanges
Trade in 60 commodities compared with just 8 in
2000
14. Benefits of commodity Future
Markets.
Price Discovery:-Based on inputs regarding specific
market information, the demand and supply
equilibrium, weather forecasts, expert views and
comments, inflation rates, Government policies, market
dynamics, hopes and fears, buyers and sellers conduct
trading at futures exchanges. This transforms in to
continuous price discovery mechanism.
Price Risk Management: - Hedging is the most common
method of price risk management. It is strategy of offering
price risk that is inherent in spot market by taking an
equal but opposite position in the futures market. Futures
markets are used as a mode by hedgers to protect their
business from adverse price change. This could dent the
profitability of their business. Hedging benefits who are
involved in trading of commodities like
15. Import- Export competitiveness: - The exporters can
hedge their price risk and improve their competitiveness
by making use of futures market. A majority of traders
which are involved in physical trade internationally
intend to buy forwards. The purchases made from the
physical market might expose them to the risk of price
risk resulting to losses.
Benefits for farmers/Agriculturalists: - Price
instability has a direct bearing on farmers in the
absence of futures market. There would be no need to
have large reserves to cover against unfavorable price
fluctuations. This would reduce the risk premiums
associated with the marketing or processing margins
enabling more returns on produce. Storing more and
being more active in the markets. The price information
accessible to the farmers determines the extent to
which traders/processors increase price to them. Since
one of the objectives of futures exchange is to make
16. GROWTH IN THE COMMODITY MARKET AS
COMPARED TO THE EQUITY MARKET
The Indian commodity futures volumes have grown 5.5
times from Rs.20.53 trillion in 2005-06 to Rs.112.52
trillion in 2010-11
Currently, the average monthly volume on the Indian
commodity exchanges is Rs.6 trillion. MCX leads the
industry, followed by NCDEX.
MCX is not only number one in India but has achieved
some global milestones too. It was the largest exchange
in silver (in terms of number of futures contracts traded
in 2010), number two in gold, copper and natural gas
and number three in crude oil. When we say India is the
largest exchange in silver, it is a great achievement for
the Multi Commodity Exchange.
17. Talking about agricultural commodities, the Indian
commodities market has futures contracts of
commodities such as black pepper, cumin
seed, mentha oil and many more which are
internationally traded but only listed in India;
internationally traders tend to consider these as
benchmark rates.
Foreign institutional investors, domestic
institutions, banks and insurance companies are not
allowed to trade on the Indian commodity bourses and
a majority of volumes come from
jobbers, arbitrageurs, retail traders and small scale
enterprises and corporate (for hedging). Even portfolio
management services are not permitted.
We expect the Indian commodity futures market to
reach at least 15x-20x by FY15. With the contribution
of Indian physical commodities to GDP being pegged
at 45%, even if the commodity futures market trades
18. List of Traded Commodity
Agricultural (Grains, and Food and
Fiber)
Livestock & Meat
Energy
Precious metals
Industrial metals
20. Commodity Exchanges
Abuja Securities and Commodities Exchange
Bhatinda Om & Oil Exchange Bathinda
Brazilian Mercantile and Futures Exchange
Chicago Board of Trade
Chicago Mercantile Exchange
Commodity Exchange Bratislava, JSC
Dalian Commodity Exchange
Dubai Mercantile Exchange
Euro next life
Intercontinental Exchange
21. Minneapolis Grain Exchange
Multi Commodity Exchange
National Commodity and Derivatives Exchange
National Multi-Commodity Exchange of India Ltd
National Food Exchange
New York Mercantile Exchange
New York Board of Trade
Rosario Board of Trade
Steelbay
Kansas City Board of Trad
London Metal Exchange
Winnipeg Commodity Exchange
National Spot Exchange
22. Recent trends in Commodity
Market.
The 2008 global boom in commodity prices - for
everything from coal to corn – was fueled by heated
demand from the likes of China and India.
Speculation in forward markets.
Farmers are expected to face a sharp drop in crop
prices as a result of bad rainfall.
Other commodities, such as steel, are also expected to
fall due to lower demand
23. Future Contract
Commodity and Futures contracts are similar as
"Forward" Contracts.
Early days "future" contracts (agreements to buy
now, pay and deliver later) were used as a way of
getting products from producer to the consumer.
These typically were only for food and agricultural
Products.• Now it is used for every metal.
Future contract for commodity trading and for share
trading is all different from one another
24. CONCLUSION
India is one of the top producers of a large number of
commodities, and also has a long history of trading in
commodities and related derivatives. The commodities
derivatives market has seen ups and downs, but seem
to have finally arrived now.
The market has made enormous progress in terms of
technology, transparency and the trading activity.
Interestingly, this has happened only after the
Government protection was removed from a number of
commodities, and market forces were allowed to play
their role.
This should act as a major lesson for the policy makers
in developing countries, that pricing and price risk
management should be left to the market forces rather
25. THANK YOU.
Bibliography:
Google. For Images
MCX & NCDEX official websites
Indian Blogger:- MANGAK KESHAV.
Nirmal Bang,
Marketoperation.com