900 mandis identified for price dissemination
Electronic price ticker boards introduced
NEW DELHI: Commodities futures trading registered a 34.9 per cent growth in 2009. The total value of trade from January to November, 2009, was Rs. 62.94 lakh crore against Rs. 46.65 lakh crore in the preceding year.
Bullion, base metals, energy products, and agricultural commodities were the major group of commodities traded at the exchanges. Among these, gold, silver, copper, lead, zinc, chana, soy oil, guarseed, jeera, pepper and energy products were prominently traded. During the year, futures trading were introduced in some new commodities, including almond, heating oil, gasoline and imported thermal goal. Futures trading remained banned in some pulses, sugar and rice.
Forward trading continued in 115 commodities at four national exchanges, including Multi Commodity Exchange, Mumbai; National Commodity and Derivatives Exchange, Mumbai, National Multi Commodity Exchange, Ahmedabad, and India Commodity Exchange, Gurgaon. Trading was also done in some of the commodities at some of the 18 regional exchanges recognised for regulating trading in various commodities approved by the Commission under the Forward Contracts (Regulation) Act, 1952. The Forward Markets Commission has, in association with the commodity exchanges, initiated a process of dissemination of futures and spot prices at various mandis, post offices, rural branches of banks and other areas frequented by farmers. The dissemination of price information is expected to help farmers in their pre-sowing and post-harvest decision-making process and improving their bargaining capacity in the Agriculture Produce Marketing Committees (APMCs) vis-À-vis traders. The project for dissemination of spot and futures prices in commodities of relevance to particular States / areas / mandis is being implemented in consultation with Agmark. Nearly 900 mandis have already been identified for implementation of the project so far. The project would be extended to other mandis and locations where farmer footfall is high.
The process of placement of electronic price ticker boards in mandis for displaying the price information has been introduced.