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Awareness programme organised by Kerala Vyapari Vyavasayi Ekopana Samithi and MCX

329 Days ago

Pala (Kerala), September 30, 2015: In order to educate the commodity ecosystem participants about hedging price risks, and increase awareness on the benefits commodity futures market, Multi Commodity Exchange of India Ltd (MCX), organised a programme in association with the Kerala Vyapari Vyavasayi Ekopana Samithi today in Kerala.  

Explaining about the various aspects of commodities trading in India, the experts briefed about the functioning of commodity exchanges, benefits of commodity futures, and approach to price risk management. They also gave an insight into the technicalities of the commodity markets with respect to the products, price discovery, transparency and risk management mechanism in trading and settlement of transactions.  

The experts from MCX further apprised the market participants about the fact that India is the only country which provides exchange traded futures contracts in spices. Since, spices have a significant presence in the economy of Kerala. 

Mr. V C Joseph Secretary, Kerala Vyapari Vyavasayi Ekopana Samithi said, “Financial literacy is really an important subject, especially in the commodity futures market, since it’s still in its nascent stage. And to be associated with MCX for this awareness programme, gives me a considerable sense of satisfaction. For a commodity exchange such as MCX, I think it is a great initiative to offer, as through this programme, they are able to help the people in the local communities to provide them with the knowledge of commodity futures market and make them understand about the benefits of price risk management.”  

“Commodity exchanges in India provide a reliable, transparent and efficient price risk management tool for the commodity value chain participants including the spice growers, traders and exporters”, Mr. Joseph added. 

A key takeaway was also the feedback from audience that such programmes greatly benefit market participants and also gives them an opportunity to interact with experts in the field. The participants were keen to learn more about the various innovative futures contracts in the bullion, base metals and agri segment offered by the Exchange.

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