Shri B. C. Khatua, Chairman Forwards Market Commission on Monday inaugurated the new premises of Indian Commodity Exchange and its new identity. Mr. Ramesh Abhishek, Member FMC along with other senior officials of FMC, was also present.
Speaking on the occasion, Shri Khatua highlighted the usefulness of the commodity markets for the farmers. He urged exchanges to launch mini contracts which could be made use by co-operatives. He exhorted the Market participants to take advantage of the futures market considering its basic aspects of risk management and price discovery as the futures market assists in hedging and price discovery.
Mr. Khatua also called for a synergistic approach to the electronic spot markets and the commodity futures markets as Agri futures need proper and strong linkages with physical spot markets.
India, which allowed futures trading in commodities in 2003, has one of the fastest growing commodity futures markets and had a combined turnover of over Rs 80 lakh crore in the year 2010-11.
