GOVERNMENT OF INDIA FORWARD MARKETS COMMISSION MINISTRY OF CONSUMER AFFAIRS

GOVERNMENT OF INDIA
FORWARD MARKETS COMMISSION
MINISTRY OF CONSUMER AFFAIRS
FOOD AND PUBLIC DISTRIBUTION
DEPARTMENT OF CONSUMER AFFAIRS
ANNUAL REPORT 2009-10
EVEREST, 3RD FLOOR. 100, MARINE DRIVE,
MUMBAI 400 002
January 2011
CONTENTS
Contents
Chapter
No.
Page No
1
Introduction
1
2
Developments in the Commodity Derivative
Market
12
3
Commodity Futures Market in 2009-10 – A
Review
23
4
Action Against Illegal Forward Trading
43
5
Administration and Budget
45
ANNEXURES
Annexure
No.
Details
Page.
No
I
List of Commodities Notified Under Section
15 of the F. C. (R.) Act, 1952
49
II
List of Exchanges
51
III-A
Trading Permissions Granted to the
National Exchanges
52
III-B
Trading Permissions Granted to the
Regional Exchanges
58
Guidelines for allowing Position Limits to
the NAFED
61
V-A
Guidelines for grant of recognition to new
national commodity exchange
62
V-B
Guidelines on the Equity Structure of the
Nationwide Multi-Commodity Exchanges
69
Uniform Penalty Structure
75
VII-A
Details of Awareness Programmes
Organized during the year 2009-10
77
VII-B
State wise summary of awareness
programmes conducted for farmers and
non-farmers.
122
Details of Training Programmes conducted
during 2009-10
124
IV
VI
VIII
CHAPTER 1
Commodity Futures Markets
INTRODUCTION
History:
1.1
The commodity futures market in India dates back to more than a century. The first
organized futures market was established in 1875, under the name and style of 'Bombay Cotton
Trade Association' to trade in cotton derivative contracts. This was followed by institutions for
futures trading in oilseeds, foodgrains, etc. The futures market in India underwent rapid growth
between the period of First and Second World Wars. As a result, before the outbreak of the
Second World War, a large number of commodity exchanges trading futures contracts in several
commodities like cotton, groundnut, groundnut oil, raw jute, jute goods, Castorseed, wheat, rice,
sugar, precious metals like gold and silver were flourishing throughout the country. In view of the
delicate supply situation of major commodities in the backdrop of war efforts mobilization, futures
trading came to be prohibited during the Second World War under the Defence of India Act. After
independence, especially in the second half of the 1950s and first half of 1960s, the commodity
futures trading again picked up and there were thriving commodity markets. However, in mid1960s, commodity futures trading in most of the commodities came to be banned and futures
trading continued only in two minor commodities, viz, pepper and turmeric. In the 1980s, the
futures trading in some commodities like potato, Castorseed, and gur (jaggery) was permitted. In
1992, futures trading in hessian was permitted; in April 1999 futures trading in various edible
oilseed complexes was permitted and in May 2001 futures trading in Sugar was permitted. The
National Agricultural Policy announced in July 2000 recognised the positive role of forward and
futures market in price discovery and price risk management. In pursuance thereof, Government of
India, by a notification dated 1.4.2003, permitted additional 54 commodities for futures trading.
With the issue of this notification, prohibition on futures trading has been completely withdrawn.
The mechanism of forward trading has actually developed and advanced considerably in the major
trading nations of the world, like USA, UK, France, Japan, etc. In these countries, forward trading
has been permitted in many new items/services including financial futures, shipping freights and
interest rates etc. In comparison, commodity futures markets in India are much simpler and are at
present dealing in single futures contracts in commodities.
Economic Functions:
1. 2.
In a free market economy, Futures trading performs two important economic functions,
viz., price discovery and price risk management. Such trading in commodities is useful to all
sectors of the economy. The forward prices give advance signals of an imbalance between demand
and supply. This helps the government and the private sector to make plans and arrangements in a
shortage situation for timely imports, instead of having to rush in for such imports in a crisis-like
situation when the prices are already high. This ensures availability of adequate supplies and
averts spurt in prices. Similarly, in a situation of a bumper crop, the early price signals emitted by
futures market help the importers to defer or stagger their imports and exporters to plan exports,
which avoid glut situations and ensures remunerative prices to the producers. At the same time, it
enables the importers to hedge their position against commitments made for import and exporters
to hedge their export commitments. As a result, the export competitiveness of the country
improves.
Benefits to the farmers and other stakeholders:
1. 3.
Farmers and growers also benefit through the price signals emitted by the futures markets
even though they may not directly participate in the futures market. The futures markets, through
advance price discovery lead to a shift in sale-purchase patterns during harvest and lean seasons
and thereby facilitate reduction in the amplitude of seasonal price variation and help the farmer
1
realize somewhat better price at the time of harvest. These price signals help the farmer in
planning his cultivation in advance as well as to determine the kind of crop which he should prefer
to raise. These signals also help him in fine tuning his marketing strategy after the harvest.
Empowered with the price information the farmer is able to avoid excess sale immediately after
the harvest and is also able to bargain for better prices from trade in the mandi. By providing the
manufacturers and the bulk consumers a mechanism for covering price-risks, the futures market
induces them to pay higher price to the producers, as the need to pass on the price-risk to farmers
is obviated. The manufacturers are able to hedge their requirement of the raw materials and as
also their finished products. This results in greater competition in the market and ensures viability
of the manufacturing units.
Suitability of a commodity for futures trading:
1.4
Futures trading can be organized in those commodities/ markets which display some
special features. The concerned commodity should satisfy certain criteria as listed below:
a) the commodity should be homogenous in nature, i.e., the concerned commodity
should be capable of being classified into well identifiable varieties and the price of
each variety should have some parity with the price of the other varieties;
b) the commodity must be capable of being standardized into identifiable grades;
c) supply and demand for the commodity should be large and there should be a large
number of suppliers as well as consumers;
d) the commodity should flow naturally to the market without restraints either of
government or of private agencies;
e) there should be some degree of uncertainty either regarding the supply or the
consumption or regarding both supply and consumption,
f) the commodity should be capable of storage over a reasonable period of time of, say, a
few months or more.
Participants in the Commodity Futures Markets:
1. 5.
There are three broad categories of participants in the futures markets, namely, hedgers,
speculators and arbitrageurs. Hedgers are those who have an underlying interest in the specific
delivery or ready delivery contracts and are using futures market to insure themselves against
adverse price fluctuations. Examples could be stockists, exporters, producers, etc. They require
some people who are prepared to accept the counter-party position. Speculators are those who
may not have an interest in the ready contracts, i.e., the underlying commodity, etc. but see an
opportunity of price movement favourable to them. They are prepared to assume the risk which
the hedgers are trying to transfer in the futures market. They provide depth and liquidity to the
market. While some hedgers from demand and supply side may find matching transactions, they
by themselves cannot provide sufficient liquidity and depth to the market. Hence, the speculators
who are essentially expert market analysers take on the risk of the hedgers for future profits and
thereby provide a useful economic function and are an integral part of the futures market. It would
not be wrong to say that in the absence of speculators, the market will not be liquid and may at
times collapse. Arbitrageurs are those who make simultaneous sale and purchase in two markets
so as to take benefit of price imperfections. In the process they help, remove the price
imperfections in different markets, For example, the arbitrageurs help in bringing the prices of
contracts of different months in a commodity in alignment.
System of Regulation of Forward Trading:
1.6 Regulation of forward trading is done by a three tier regulatory structure, viz., the Central
Government, Forward Markets Commission and the Recognized Commodity Exchanges /
Associations.
2
•
The Central Government has the powers to legislate on the subject of forward trading
in commodities. Presently the subject is dealt with by the Ministry of Consumer
Affairs, Food and public Distribution in the Central Government. The Central
Government broadly determines the policy relating to areas such as identification of
commodities as well as the territorial area in which futures / forward trading can be
permitted and giving recognition to the Exchange / Association through which such
trading is to be permitted.
•
The Forward Markets Commission performs the role of approving the Rules and
Regulations of the Exchange in accordance to which trading is to be conducted,
accords permission for commencement of trading in different contracts, monitors
market conditions continuously and takes remedial measures wherever necessary.
•
The Recognized Exchange / Associations provide the framework of Rules and
Regulations for conduct of trading, indicate the place where the trading can be
conducted, report, record, execute & settle contracts, provide forum for exchange of
documents and payments, etc.
Forward Contract (Regulation) Act:
1. 7.
The Commodity Future Markets are regulated according to the provisions of Forward
Contract (Regulation) Act 1952. The Act broadly divides commodities into 3 categories, i.e.
commodities in which forward trading is prohibited, commodities in which forward trading
is regulated and residuary commodities. Under Section 17 of the F.C(R) Act, 1952, the
Government has powers to notify commodities, forward trading in which is prohibited in whole or
part of India. Any forward trading in such commodities in the notified area is illegal and liable to
penal action. Under Section 15, Government has powers to notify commodities in which forward
trading is regulated as also the area in which such regulation will be in force. Once a commodity
is notified under section 15, the forward trading in such contracts (other than Non-transferable
Specific Delivery Contracts) has to be necessarily between members of the recognized association
or through or with any such member. Contracts other than these are illegal. Section 6 of the Act
provides for powers to the Central Government to grant recognition to an association for
organizing forward contracts in the commodity which is notified under Section 15. Such
recognition may be for a specified period or may remain in force till revoked under Section 7 of
the Act. Section 18(1) exempts the Non-Transferable Specific Delivery Contracts from the
purview of regulation. However, under Section 18(3) of the Act, the Government has powers to
prohibit or regulate the non-transferable specific delivery contracts in commodities also by issue
of a notification. Such notifications may apply for the whole of the country or the specified part of
the country. Trading in commodities where non-transferable specific delivery contracts are
prohibited is illegal and liable to penal action. Trading in non-transferable specific delivery
contracts in respect of regulated commodities has to be through recognized associations just as in
the case of other forward contracts. The commodities that are notified neither under section 15
nor under section 17 of the Act is in common parlance referred to as free commodities. For
organized forward trading in such commodities, the concerned Association or Exchange has to get
a certificate of registration under Section 14B of the Act from the Forward Markets Commission.
1. 8.
The Act defines three types of contracts i.e. ready delivery contracts, forward contracts
and options in goods.
1.8.1. Ready delivery contracts are contracts for supply of goods and payment thereof where
both the delivery and payment is completed within 11 days from the date of the contract. Such
contracts are outside the purview of the Act.
1.8.2. Forward Contracts, on the other hand, are contracts for supply of goods and payment,
where supplies of goods or payment or both take place after 11 days from the date of contract or
where delivery of goods is totally dispensed with.
3
1.8.3. The forward contracts are further of two types, viz., specific delivery contracts and
'other than specific delivery contracts'. The specific delivery contracts are those where delivery
of goods is mandatory though delivery takes place after a period longer than 11 days. Specific
delivery contracts are essentially merchandising contracts entered into by the parties for actual
transactions in the commodity and terms of contract may be drawn to meet specific needs of
parties as against standardized terms in futures contracts.
1.8.4. The specific delivery contracts are again of two sub-types viz., the transferable variety
where rights and obligations under the contracts are capable of being transferred and the nontransferable variety where rights and obligations are not transferable.
1.8.5. Forward contracts other than specific delivery contracts are what are generally known as
'futures contracts' though the Act does not specifically define the futures contracts. Such contracts
can be performed either by delivery of goods and payment thereof or by entering into offsetting
contracts and payment or receipt of amount based on the difference between the rate of entering
into contract and the rate of offsetting contract. Futures contracts are usually standardized
contracts where the quantity, quality, date of maturity, place of delivery are all standardized and
the parties to the contract only decide on the price and the number of units to be traded. Futures
contracts are entered into through the Commodity Exchanges.
1.8.6. ‘Options’ in goods means an agreement, by whatever name called, for the purchase or sale
of a right to buy or sell, or a right to buy and sell, goods in future and includes a put, a call, or a
put and call in goods. Options in goods are prohibited under the present Act. An option contract
is the right (but not the obligation) to purchase or sell a certain commodity at a pre-arranged price
(the "strike price") on or before a specified date. For this contract, the buyer or seller of the option
has to pay a price to his counterpart at the time of contracting, which is called the "premium; if the
option is not used, the premium is the maximum cost involved. When prices move favorably, this
right will not be exercised, and therefore, the purchase of options provides protection against
unfavourable price movements, while permitting to profit from favourable ones. Option can give
the right to buy or sell a certain amount of physical commodity, or, more commonly, they can give
the right to buy or sell a futures contract.
1.9 Working of Forward Markets Commission:
1.9.1 Forward Markets Commission is a statutory body set up under Forward Contracts
(Regulation) Act, 1952. The Commission functions under the administrative control of the
Ministry of Consumer Affairs, Food & Public Distribution, Department of Consumer Affairs,
Government of India. The functions of the FMC are dealt with in section 4 of the Forward
Contracts (Regulation) Act, 1952 [F.C(R) Act, 1952] which is given below:
i.
ii.
iii.
iv.
to advise the Central Government in respect of the recognition of, or the withdrawal of
recognition from any association or in respect of any other matter arising out of the
administration of the FC(R) Act, 1952.
to keep forward markets under observation and to take such action, in relation to them as
it may consider necessary, in exercise of the powers assigned to it by or under the FC(R)
Act, 1952.
to collect and whenever the Commission thinks it necessary, publish information
regarding the trading conditions in respect of goods to which any of the provisions of this
Act is made applicable, including information regarding supply, demand and prices and to
submit to the Central Government periodical reports on the operation of the Act, and the
working of forward markets relating to such goods.
to make recommendations generally, with a view to improving the organization and the
working of forward markets.
4
v.
vi.
to undertake the inspection of the accounts and other documents of (any recognized
association or registered association or any member of such association) whenever, it
considers it necessary and
to perform such other duties and exercise such other powers as may be assigned to the
Commission by or under the FC(R) Act, 1952 or as may be prescribed.
1.9. 2. Section 4A of the FC (R) Act, 1952 deals with the powers of the Commission which
are as follows:
The Commission have all the powers of a civil court under the Code of Civil Procedure
1908 (5 of 1908) while trying a suit in respect of the following matters:
●
●
●
●
●
Summoning and enforcing the attendance of any person and examining him on oath;
Requiring the discovery and production of any documents;
Receiving evidence on affidavits;
Requisitioning any public record or copy thereof from any office;
Any other matter which may be prescribed.
1.9.3. The Commission, thus, is a statutory authority entrusted with regulatory functions under
the Act. The Commission consists of a Chairman and two members. Presently, Shri. B.C. Khatua,
IAS is the Chairman of the Commission. The other members of the Commission are Shri. Rajeev
Kumar Agarwal, IRS and Shri. D. S. Kolamkar, IES. It has its headquarters at Mumbai and a
Regional Office at Kolkata. Forward Markets Commission has 5 Divisions to carry out various
tasks. These Divisions were formed on 1st August 2005 in order to streamline the work on a
functional basis.
i) Markets, Trading and Development (Market Division)
ii) Market Intelligence, Monitoring & Surveillance ( M & S Division )
iii) Awareness,
Training
and
Intermediary
Registration
and
IT
(IR Division)
iv) Investigation, Vigilance and Legal Affairs Division (Legal Affairs Division)
v) Commission Secretariat including HR, Administration and Finance, Grievances
(Administration Division)
Each Division is headed by a Director, assisted by Deputy Directors, Assistant Directors,
Economic Officers and Junior Research Assistants.
COMMISSION
Division – I
Division of
Markets,
Trading and
Development
(Market
Division )
Division – II
Market
Intelligence,
Monitoring &
Surveillance
(M& S
Division)
Division – III
Awareness,
Training and
Intermediary
Registration
and IT
Division-IV
Investigation,
Vigilance and
Legal Affairs
Division
(Legal Affairs
Division)
Division V
Commission
Secretariat
including HR,
Administratio
n & Finance
Grievances
(ADM
Division)
Regulatory Tools:
5
1.10
Futures trading has the risk of being misused by unscrupulous elements. In order to
safeguard the market against such elements, regulatory measures as under are prescribed by the
Forward Markets Commission:(a) Limit on open position of an individual operator as well as member, to prevent over
trading;
(b) Limit on daily price fluctuation, to prevent abrupt upswing or downswing in prices;
(c) Special margin deposits to be collected on outstanding purchases or sales, to curb
excessive speculative activity, through financial restraints;
(d) During times of shortages, the Commission may even take more stringent steps like
skipping trading in certain deliveries of the contract, closing the markets for a
specified period and even closing out the contract to overcome emergency
situations.
1.11 Major Initiatives taken by the Government / Commission since liberalization of the
market.
Prohibition on futures trading lifted in all the commodities on 1st April 2003.
Three Multi-Commodity electronic Exchanges, i.e., National Multi Commodity
Exchange, Ahmedabad (10.1.2003), Multi Commodity Exchange, Mumbai (26.9.2003)
and National Commodity and Derivative Exchange, Mumbai (20.11.2003) were granted
recognition as 'National' Exchanges during 2003. On 14th May 2008, the commission had
issued guidelines on setting up of new National Multi Commodity Exchanges to further
strengthen the infrastructure in Commodity Derivative Market. Inter alia, it prescribed the
framework for share holding pattern of a new National Multi Commodity Exchange. A
fourth National Exchange namely, Indian Commodity Exchange, NCR, Gurgaon was
granted recognition under these guidelines on 09.10.2009. These exchanges can offer
futures contracts in all the commodities subject to the approval of the Commission.
Besides these, there are 17 other exchanges recognized for futures trading in specific
commodities, generally reffered to as Regional Exchanges.
After a ban of more than four decades, futures trading in gold and silver for the first time
commenced at National Multi Commodity Exchange, Ahmedabad on 3.10.2003. Multi
Commodity Exchange, Mumbai and National Commodity and Derivative Exchange,
Mumbai also launched futures trading in gold and silver on 10.11.2003 and 15.12.2003
respectively.
Improvement of Regulatory Framework and Re-structuring of Forward Markets
Commission The F.C (R) Act enacted in 1952 does not meet the regulatory needs of a
modern electronic market. Hence, the regulatory framework needs to be overhauled to
bring it on par with those of similar regulators like SEBI, etc. and also to restructure and
strengthen the Forward Markets Commission to meet the regulatory challenges. Hence, a
Bill proposing amendments to F.C (R) Act has been approved by the Cabinet which, inter
alia, provides for –
• Defining forward contract so as to include other commodity derivatives, definition
of intermediaries, etc.
• Composition and functioning of FMC.
• Financial and administrative autonomy of the Commission so as to provide for
recruitment of its officers and its employees, management of the affairs to vest
with the Chairman, accounts and audits, and creation of an ‘FMC General Fund’
to which all receivables except penalties will be credited. The FMC General Fund
shall be used for the management of the affairs of the Commission and to enforce
the provisions of the F.C(R)Act, 1952.
6
•
•
•
•
•
•
Levying of fees on intermediaries to finance the Commission activities.
Allowing trading of options and other derivatives in goods.
Provide for corporatisation and demutualization of commodity exchanges.
Strengthening the penal provisions.
Constitution of Forward Markets Appellate Tribunal.
Provision for grant by the Central Government to meet transitional financial needs
of FMC.
1.12. Major Regulatory Initiatives taken by Forward Markets Commission during 2009-10.
The Commodity futures market witnessed rapid growth since the opening of market
in 2002. The National Commodity Exchanges viz. MCX, NCDEX and NMCE have
completed 5 years in their operations in Commodity Derivative Market. The
Commission had also been issuing, from time to time, guidelines and directions to
these exchanges in respect of better governance, transperancy and investor
confidence in Commodity Derivative Market.
A revision was proposed in the framework of share holding pattern of National
Multi Commodity Exchanges who have completed 5 years of the their operation in
the commodity derivative market to bring them, as far as practicable, in alignment
with the guidelines of 14th May 2008 issued for new National Exchanges.
Therefore, all the pre-2008 National Commodity Exchanges were directed to align
their share holding pattern as per the directions of the guidelines issued by the Govt.
of India on 29th July 2009 after completion of the fifth year of their operation are
given in Annexure V.
The Ministry of Consumer Affairs, Food and Public Distribution, Government of
India, on 9th October 2009, granted recognition to M/s. Indian Commodity
Exchange Limited (ICEX), NCR, Gurgaon, on permanent basis in respect of
forward contracts in all the commodities in which Section 15 is applicable and the
commodities to which neither Section 17 nor Section 15 of FC(R) Act, 1952 is
applicable, with prior permission of the FMC.
The entities participating in the commodity derivatives market also operate like the
intermediaries in other segments of the financial system and are exposed to similar
risks as interdediaries in other segments of financial market. Hence in order to avoid
money laundering threats, the Commission issued Guidelines for bringing members
of the commodity exchanges under the purview of the anti Money Laundering.
The Forward Markets Commission undertook various regulatory initiatives to
improve the delivery system at the Commodity Exchanges which would facilitate
the participation of hedgers in these markets. The major Regulatory initiatives taken
during the year in this regard are:
•
•
•
Introduction of Exchange for Physicals (EFP) and Alternate Future
Settlement Mechanism (AFS):
Higher Position limits for NAFED to facilitate hedging and delivery by
them.
Introduction of early delivery system in select commodities to
facilitate hedging operations and encourage physical delivery.
Besides, the Commission continued to regulate the markets effectively and intervened in
the markets as and when required by way of revising position limits, margins etc.
1.13. Collaboration with International Regulators:
In order to strengthen its regulatory arm, FMC took steps for collaborating with regulators
in other countries. FMC is also an associate member of IOSCO, an international organization of
Security and Commodities Market Regulators. In addition, FMC has also signed Memorandum of
7
Understanding with the United States Commodity Futures Trading Commission (USCFTC) and
the China Securities Regulatory Commission (CSRC). The Commission in January 2010 also
signed MOU with the Commissao de Valores Mobiliarios – CVM (Securities and Exchange
Commission of Brazil), Brazil.
1.14.
Developmental Initiatives taken by Forward Markets Commission
The Commission has taken the following steps in recent years to ensure that the markets
are broad based and its benefits reach all the stakeholders of the Commodity Markets.
• Promoting the participation of hedgers (producers, processors, exporters,
importers, etc.) to counter balance the speculative element in the price discovery.
• Increasing the awareness level of different category of stakeholders especially
farmers to make them aware of the existence of as well as benefits from the
futures markets, sensitization of policy makers and capacity building in the
commodity sector.
• Working on various models of “Aggregation” to enable the farmers to take the
benefit of actual hedging on the Commodity Exchanges to manage their price
risks.
• Working on a project of Price Dissemination through APMCs and other centers
to empower the farmers with price information.
• Meeting with various stakeholders to understand their difficulties, problems and
felt needs so as to align/ design policies to feasible/ desirable objectives.
1.14.1. Promotion of Hedgers’ participation:
The Commission has taken various measures to promote participation of Hedgers in the
commodity futures markets. In order to understand the regulatory areas that required modification
for facilitation of greater hedgers’ participation in the commodity futures market, periodic
discussions are held with exchanges and stakeholders. Besides these regular discussions, several
meetings have been held with the corporate houses at the all India level to take their suggestions
for improving hedgers’ participation in agri-commodities, metals and energy products.
Based on the feed back received during the meetings and market intelligence gathered, the
Commission has taken several proactive steps to facilitate hedgers participation including focusing
on the delivery system of the Exchanges, expanding delivery period, direct delivery, permitted
exchange for physicals (EFP), at MCX and Alternate Futures Settlement (AFS) at NCDEX altered
duration of contracts, quality related issues and relaxing near-month open interest limit in certain
commodities in which the hedgers were facing difficulties in giving adequate physical delivery in
case of adverse price movement.
1.14.2. Creation of Awareness:
Creation of awareness amongst the farmers, related bodies and organizations including the
ones which could be potential hedgers / aggregators and other market constituents has been one of
the major activities of the Commission in last three years. During 2009-10, 515 awareness
programmes were conducted for various stakeholders of the commodity futures market. Of this,
423 programmes were held exclusively for farmers. In the previous year, (2008-09) 197 awareness
programmes were held, of which 107 were held exclusively for the farmers. The programmes were
being conducted at different locations all over the country. These awareness programmes were
attended by different category of market participants ranging from farmers, traders and members
of Commodity exchanges to bankers, cooperative personnel staff and students of Universities,
Government functionaries, warehouse professionals, agricultural extension makers etc. These
awareness programmes have resulted in creating awareness among the various constituents about
8
commodity futures trading and the benefits thereof. The programmes were organized in
association with various organizations/universities having connectivity with the farmers, viz.
agricultural universities, NIAM, NABCONS/ NABARD, MITCONS, farmer cooperatives and
federations, GSKs, CIFA, National & Regional Based Commodity Exchanges, etc.
1.14.3. Sensitization of officers involved in policy making for Agricultural Sector:
Sensitization programmes have been organized by the Commission for senior State
Government and Central Government functionaries. During the year, 5 such sensitization
programmes were organized at IIM, Bangalore and IICM, Navi Mumbai. The objective of the
programmes was to create awareness among the senior Central Government and State Government
officers from the Departments of Civil Supplies, Agriculture, Cooperation, Marketing Federations,
etc., about the concept and economic functions of the futures market the possible role they can
play to promote and facilitate participation by various stakeholders, especially farmers, in the
commodity futures market, and the use of price information emanating from the futures market in
their related policy making decisions.
1.14.4. Capacity Building Training Programmes
FMC has been organizing training programmes for market constituents and their officers
as part of its capacity building endeavors. The capacity building efforts of the Forward Markets
Commission are meant to complement the awareness creation activities of the Commission.
Training on Commodity Futures Market is being imparted to policy makers, university staff,
students, extension workers, farmer federations, Cooperatives, banks and officers of agencies
working at the grass root level to enable them to educate market participants about the economic
significance of the market and means of participation in the market. Special training programmes
are being organized for trainers who may take up the responsibility of educating the farmers about
the futures market.
In the year 2009-10, FMC organized 63 capacity building programmes the training
programmes, workshops and seminars were organized for the benefit of the functionaries of the
above organizations through various Institutes such as VAMNICOM, Pune; IICM, Navi Mumbai,
N.G.Ranga University, Hyderabad, Topic, Gurgon, MANAGE, Hyderabad; Pondichery
University, Indira Gandhi Institute of Cooperative Management, Assam Agricultural University,
Tamil Nadu Agricultural University, Coimbatore; Institute of Cooperative Management, Jaipur,
NIBM, Pune, CAB, Pune, NABARD, etc. Three Capacity Building Programmes were held for
FMC officers and staff to strengthen their capabilities in administration and regulation of market
through Regional Training Centre, Govt. of India Mumbai, Bombay Stock Exchange & Research
Development Association, Jaipur. The programmes are expected to train functionaries of related
organizations with a strong rural presence and working directly or indirectly with farmers, so that
the message of futures market is taken to the grassroots- producers, processors and traders.
1.14.5. Promotion of commodity related education and developing a talent pool:
Due to the loss of domain expertise over 2 generations on account of ban on futures
trading in the 1960s through the 1980s, at this juncture, the subject of commodity futures trading
is in a way a new subject in India. FMC and the Department of Consumer Affairs had taken up
the matter of introducing courses on Commodity Futures in Universities and Management
Institutes, with the Ministry of Human Resources Development, Government of India.
The Commission is organizing awareness programmes for faculty and students of Agriuniversity management institutes of other colleges in the area of commodity future market to
create awareness and interest in the subject and also expose them to the employment opportunity
available in the sectors.
9
During 2009-10, the Commission provided summer internship to twelve students from
KIIT School of Management, Bhuvaneswar, Orissa (2), the Indian Institute of Management,
Ahmedabad (IIM-A) (4), the IIT, Mumbai (1), the Department of Management Sciences,
University of Pune (1), Mahatma Gandhi Institute of Management, Sikar, Rajasthan (1) and N. L.
Dalmia Institute of Management Studies and Research, Mumbai (3).
1.14.6. Aggregation Model for Farmers’ participation:
The Commission is making efforts through the National Exchanges to develop a model of
“aggregation”, so that various agencies, viz. Cooperatives, Farmers’ Associations, State Marketing
Federations, Non-Government Organizations and Banks would be able to act as Aggregators and
take consolidated positions on behalf of groups of farmers to facilitate their hedging operation and
transfer the benefit of futures trading to them. The Exchange, in turn are field testing aggregation
models on a pilot basis in association with NGOs and financial institutions. The Commission has
also taken up the issue with representatives of major cooperatives, marketing federations, NGOs,
Banks and other organization having requisite domain knowledge and experience to act as an
interface and facilitator between the farmers and the futures market. The matter has also been
taken up with the State Governments to elicit their co operation.
1.14.7. Project for Price Dissemination:
The Forward Markets Commission has, in association with the Commodity Exchanges,
initiated a process of dissemination of futures and spot prices of agricultural commodities at
various mandis, under the AGMARKNET. The FMC proposes to extend the project to post
offices, rural branches of the Banks, warehouses, offices of cooperatives and other areas
frequented by the farmers. The dissemination of price information is expected to help various
hedger groups, especially farmers, in their pre-sowing and post harvest decision making process
and hedging their price risks in the market. The project for dissemination of spot and futures prices
in agricultural commodities of relevance to particular States / areas / mandis is being implemented
in consultation with AGMARK. During the year 2009-10, price ticker boards have been installed
in 183 Mandis spread across 14 States. During the year, 2010-11, it is proposed to install
electronic price ticker Boards in 797 mandis including 92 in the North East Region.
In addition to this, price tickers of the commodity exchanges are run during news telecasts
on Doordarshan. Besides, future prices discovered in the Exchanges are published in newspapers,
displayed in railway stations and bus stands, rural bank branches are available on mobile phones,
etc. Thus, the opacity of prices that existed earlier has reduced considerably and conditions have
been created for better integration of various spot markets across the nation.
1.14.8. Exhibitions
The Forward Markets Commission and the National Exchanges participated in three
Exhibitions during the year, with the objective of showcasing the benefits of Commodity Futures
Market to the farmers by means of exhibits and audio-visual presentations. The Exhibitions
included the 2nd International Horti expo 2009 at Pragati Maidan, New Delhi from 5-7 June 2009,
the Agro- Horticulture festival at Cochin from 28-31 August 2009, the 97th Indian Science
Congress Expo 2010 at Trivandrum from 3rd – 7th January, 2010. The Commission along with the
National Exchanges participated in the Exhibitions by setting up a stall on benefits of commodity
futures market to farmers. The stall attracted a lot of visitors who were able to remove their misperceptions about the functioning and the impact of the market.
10
1.14.9. Meetings with Stakeholders
The Commission conducted various meetings with different category of stakeholders of
the futures market to take feed back from them to improve the functioning of the futures markets.
The inputs received during these meetings were utilized while framing the regulatory policies in
the Commission. Such eight meetings were conducted during the year for various stakeholders of
the Commodity Futures Market, including members of national exchanges; Agriculture Sector
based corporate entities, farmer leaders and farmer opinion makers. These meetings served as an
interface between the FMC, the exchanges and the market users to facilitate coordinated efforts for
developing the commodity futures market.
1.15
Inspection of books of accounts of Exchanges and their members:
The Commission has been inspecting the books of accounts of the Exchange –Members,
particularly of National level Commodity Exchanges, viz. MCX, Mumbai, NCDEX, Mumbai and
NMCE, Ahmedabad on a regular basis since 2006-07. During the year 2009-10, 298 new audits in
the case of members of National Commodity Exchanges were assigned. Besides, audit of 3
National Exchanges and 14 Regional Exchanges were also assigned to the auditors.
11
CHAPTER II
DEVELOPMENTS IN THE COMMODITY DERIVATIVE MARKET 2009-10
2.1
During the year 2009-10, forward trading in 109 commodities, as given in Annexure I,
was regulated at the 4 national exchanges, viz. Multi Commodity Exchange, Mumbai; National
Commodity and Derivatives Exchange, Mumbai, National Multi Commodity Exchange,
Ahmedabad and Indian Commodity Exchange, Gurgaon. Besides, there are 17 regional exchanges
recognized for regulating trading in various commodities approved by the Commission under the
Forward Contracts (Regulation) Act, 1952.
2.2 The National Exchanges, with the adoption of modern technology, have spread the facility
of commodity futures trading across the country. The total value of trade for the entire financial
year 2009-10 was Rs. 77.65 lakh crore as against Rs.52.49 lakh crore in the preceding financial
year, registering a growth of 47.93%. Bullion, base metals, energy products and agricultural
commodities were the major group of commodities traded at the exchanges. Amongst these, gold,
silver, copper, lead, Nickel, zinc, chana, soy oil, guarseed, jeera, pepper and energy products were
prominent commodities traded during the year. The year 2009-10 saw the resurgence of
agriculture commodities in the commodity futures platform. The total value of trade in agricultural
commodities during the year was Rs. 12.18 lakh crore as against Rs. 6.27 lakh crore in 2008-09
indicating a growth of 94.26% over the year. During the period, futures trading was permitted in
the following new commodities viz: Almond, and Menthol Flakes (MCX Mumbai), Platinum,
Natural Gas, Gasoline, Short Term CER Certified Emission Reduction, Heating Oil, and Lead
(NCDEX, Mumbai).
2.3
During 2009-10, the Commission focused its activities on the regulation of futures trading
in commodities, spreading awareness amongst the various stakeholders through various awareness
and capacity building programmes and initiation of the Price Dissemination Project at APMC
Mandis. The Commission also took steps to promote the participation of hedgers through a series
of regulatory and developmental initiatives.
2.4
In the coming years, the priority of the Commission will be to consolidate the market;
strengthen regulation to generate confidence amongst the participants and keep the market free
from manipulation and abuses; increase awareness of the stakeholders especially the farmers;
empower the farmers with price information and identify, encourage and facilitate intermediaries
such as aggregators to facilitate the participation of farmers in the market for hedging.
2.5
The endeavor of the Commission has been to prevent market manipulation and ensure
market integrity, financial integrity and customer protection. Inspite of severe resource constraint,
especially in terms of manpower, the Commission is trying its best to achieve these objectives.
The important developments in the commodity derivative market during 2009-10 are
enumerated below:
2.6
Important Developments in the Commodity Derivative Markets:
2.6.1 During 2009-10, forward trading was regulated in 109 commodities at 21 recognized
exchanges. The break up of the total value of commodities traded stood as under• Bullion - Rs.31.64 lakh crore. (40.75%)
• Base metals - Rs.18.02 lakh crore. (23.20%).
• Energy products - Rs.15.78 lakh crore (20.32%)
• Agricultural commodities-Rs.12.18 lakh crore (15.69%).
12
2.6.2 Out of 21 recognized exchanges, Multi Commodity Exchange (MCX), Mumbai, National
Commodity and Derivatives Exchange (NCDEX), Mumbai, National Multi Commodities
Exchange, (NMCE), Ahmedabad, Indian Commodity Exchange, Ltd., Gurgon, National Board of
Trade (NBOT), Indore, contributed 99.62% of the total value of the commodities traded during the
year.
2.6.3
The share of various Exchanges in the total value of trade in 2009-10.
Value of the recognized Exchanges during 2009-10
Name of the
Exchanges
MCX
NCDEX, Mumbai
NMCE,
Ahmedabad
ICEX, Gurgaon
NBOT, Indore
Total of five
Exchanges
Others
Grand Total
Value in Rs. cr.
% share to
the total
value of the
commodities
traded
during
2009-10
6393302.17
82.34
917584.71
11.82
227901.48
136425.36
60449.52
2.94
1.76
0.78
7735663.24
29090.81
7764754.050
99.64
0.36
100
%share of the com m odity exchanges to the total value of
com m odities traded
1.76
0.78
0.36
2.94
11.82
82.34
MCX, Mumbai
NMCE, Ahmedabad
NBOT, Inore
2.7
NCDEX, Mubai
ICEX, Gurgaon
others
Regulatory initiatives taken by the Forward Markets Commission:
2.7.1. Grant of Recognition/Renewal of recognition to the recognized Associations/
Exchanges and grant of permissions to trade in the commodities;
13
a)
Grant of recognition to ICEX:
On the recommendations of the Forward Market Commission, the Ministry of Consumer
Affairs, Food and Public Distribution, Government of India, on 9th October 2009, granted
recognition to M/s. Indian Commodity Exchange Limited (ICEX), NCR, Gurgaon, on permanent
basis in respect of forward contracts in all the commodities in which Section 15 is applicable and
the commodities to which neither Section 17 nor Section 15 of the FC (R) Act, 1952 is applicable,
with the prior permission of the FMC.
b)
Renewal of recognition:
During the year, on the recommendations of the Commission, the Government of India
renewed the recognition of the following Associations / Exchanges.
S.
Name of the Exchange
No.
Period of renewal of
Date
recognition &
commodities permitted
1.6.2009 to 28.2.2010
25th May 2009
Soybean, refined Soy oil
and Soy meal
1
National Board of Trade, Indore
2
Bikaner Commodity
Ltd., Bikaner
Exchange 20.1.2010 to 19.1.2011
Guarseed
6th January,2010
3
Rajkot Commodity
Ltd.,Rajkot
Exchange 15.3.2010 to 14.3.2011
Soybean oil
10th February,2010
4
Rajkot Commodity
Ltd.,Rajkot
Exchange 1.4.2010 to 31.3.2013
castorseed
15th February,2010
5
National Board of Trade, Indore
6
The Surendranagar Cotton Oil & 1.4.2010 to 31.3.2013
Oilseeds
Association
Ltd., Kapas
Surendranagar
7
East India Jute &
Exchange Ltd., Kolkata
8
c)
1.3.2010 to 30.6.2010
22nd February,2010
Soybean, refined Soy oil
and Soy meal
3rd March,2010
Hessian 1.4.2010 to 31.3.2011
8th March,2010
Jute goods : Hessian &
Sacking (TSD)
7.4.2010 to 6.4.2011
Raw Jute (futures)
Bhatinda Om & Oil Exchange Ltd., Recommended not to renew 23rd March,2010
Bhatinda
the recognition
Derecognition of the Bhatinda Om and Oil Seeds Exchange Ltd., Bhatinda:
On the recommendations of the Forward Markets Commission, the Government of India
allowed the recognition of the Bhatinda Om and Oil Seeds Exchange Ltd., Bhatinda to lapse after
31st March 2010. With this, the total number of recognized exchanges as on 31st March 2010
14
becomes 21 out of which 17 are regional based exchanges and 4 are National Multi Commodity
Exchanges. The list of recognized exchanges is at Annexure II.
d)
Renewal of Registration of the Commodity Exchanges:
The Commission, in exercise of its powers conferred under Section 14(B) of the Forward
Contracts (Regulation) Act, 1952, extended the period of registration of the following associations
/ Exchanges analogous to the period of recognition.
S. No.
1
2
3
4
5
Name of the Exchange
Period of renewal of
registration
&
commodities permitted
The Haryana Commodities Ltd., 13.1.2009 to 12.1.2012
Sirsa
Mustardseed
1.11.2008 to 31.10.2011
(Cottonseed oil cake )
First Commodity Exchange of 1.2.2009 to 31.1.2012
India Ltd., Kochi
Coconut oil, Copra & its oil
cake
Bikaner Commodity Exchange 20.1.2007 to 19.1.2010
Ltd., Bikaner
Guarseed, Guargum & gram
National Board of Trade, Indore
1.6.2009 to 28.2.2010
Soybean, refined Soy oil
and Soy meal
East India Jute &
Exchange Ltd., Kolkata
Date
2nd June, 2009
21st July, 2009
21st July, 2009
21st July, 2009
Hessian 1.4.2009 to 31.3.2010
18th August, 2009
Jute goods : Hessian &
Sacking(TSD)
7.4.2009 to 6.4.2010
Raw Jute (futures)
e)
The Commission granted fresh permission to trade in newly introduced futures contracts.
Viz Almond, Yellow Peas, Potato at MCX, Mumbai and Platinum, Mentha oil, Gasoline, Heating
Oil an LED at NCDEX, Mumbai.
f)
The Commission granted permission for trading in commodities to recognized
Associations/Exchanges as detailed in Annexure III(A) & (B).
2.7.2
(a)
Suspension of futures contracts in sugar.
Considering the concerns of the Govt. about the escalating prices of sugar and to address
the perception in certain quarters, that futures trading leads to price rise, the FMC as a measure of
abundant caution suspended the futures trading in sugar from 26.05.2009 to 31.12.2009 and
directed the Exchanges not to launch new sugar contracts Suspension was later, further extended
till 30th September 2010.
(b)
Revoking suspension of futures trading in Wheat.
The futures trading in wheat, which was suspended on 27th February 2007, was restored by
the FMC on 15th May 2009.
15
2.7.3
Revision in Regulatory Measures:
The Commission kept a close watch on the trading activities and took necessary action by
way of revising from time to time regulatory measures such as revision in the limit on open
position, daily price limits, imposition of additional margin etc.
A. Revision in limit on open position:
(a)
Fixation of near month position limits in sugar M and Sugar S:
In order to control the holding position of the market participants following shortage of
sugar the Commission on 4.5.2009 fixed near month limits of 6000 MT for both Sugar M and S
contracts traded at the National Exchanges for implementation with effect from 21st May, 2009.
(b)
Fresh Positions in internationally referenceable contracts:
The Commission examined the proposal to allow members to take fresh position during
the delivery period till the expiry of the contract and permitted them to take that fresh position in
internationally referenceable commodities during the delivery period till the date of expiry
of the contact. Since settlement prices of international reference able commodity contracts are
fixed on the basis of international prices, the Commission on 5.6.2009 allowed members of
National Commodity Exchange, to take fresh positions in internationally referenceable
commodities viz. Platinum, CER, CFI, ATF,CPO, Gold HNI, Silver, Mini/HNI, Heating Oil,
Gasoline, Gold International and Silver International till the date of expiry of these contracts.
(c)
Revision in position limits for NAFED:
The Commission, to encourage participation of NAFED in futures trading in agricultural
commodities with the intention of transferring the benefits of futures trading to farmers issued
guidelines on 30th June, 2009 for allowing separate position limits to the NAFED and its branches
for implementation with effect from August 2009. Guidelines issued in this connection are given
in Annexure IV.
(d)
Increase in the open position limits in Cotton Long Staple contract:
The Commission, on 1st February 2010, revised the open position limits for aggregate and
near month futures contract of Cotton Long Staple for implementation with effect from 1st
March 2010.
Commodity
Unit
Cotton Long Bales
Staple
(170
Kg.)
(e)
Open Interest Limits
Aggregate
(all Delivery
(near)
contract) months
month
Member
Client
Member
Client
1,50,000 or 50,000
30,000 or 10,000
15% of the
15% of the
market
market
wide open
wide open
position
position
whichever
whichever
is higher
is higher
Prescription of absolute limits on open position for Copper and Nickel contracts:
The Commission on 17th February, 2010 prescribed absolute limits on open position in
respect of Copper and Nickel contracts for implementation with effect from 1st March 2010.
16
Commodity
Copper
Nickel
Aggregate OI (MT)
Member
Client
6000 MT or 15% of the market 2000 MT
wide open position whichever is
higher
600 MT or 15% of the market 200 MT
wide open position whichever is
higher
Earlier only market wide open position limits were in existence in these contracts.
(f)
Change in the open position limits in Wheat contract:
The Commission, on 3rd March 2010, revised the open position limits for aggregate and
near month futures contract of Wheat for implementation with effect from 1st April 2010.
Commodity
Wheat
(g)
Open Interest Limits (MT)
Aggregate (all contract) months
Delivery (near) month
Member
Client
Member
Client
40,000 or 15% 8,000
15,000 or 15% 3,000
of the market
of the market
wide
open
wide
open
position
position
whichever
is
whichever is
higher
higher
Change in open position limit in Crude Palm Oil contract:
The Commission, on 8th March 2010, revised the open position limits for aggregate and
near month futures contract of Crude Palm Oil for implementation with effect from 1st April 2010.
Commodity
Aggregate OI limits (In MT)
Member
Client
Crude Palm 60,000 or 15% 20,000
of the market
Oil
wide
open
position
whichever
is
higher
(h)
Near month OI limits (In MT)
Member
Client
18,000 or 15% of 6,000
the market wide
open
position
whichever
is
higher
Hedge positions on the short side to the processors
After examining the request of the two processors viz., Tinna Oil and Chemical Ltd. and
ITC Limited for granting hedge exemptions on the short side in Soybean, the Commission, on 17th
November 2009 granted hedge exemptions on the short side to the said processors, subject to
certain conditions for the 2008-2009 season till 31st March 2010.
B.
Changes in the daily price limit of Expansion of CPO contracts:
The Commission examined the daily price fluctuation in the CPO contract, and on 4th
August 2009, increased the limit on daily price fluctuation in respect of CPO contracts traded at
MCX and NMCE to 3% initially and with a break of 15 minutes to 1% more (3%+1%=4%).
C.
Imposition of additional margins in Potato hedge contracts.
17
Considering the volatility in the prices of Potato, the Commission on 24th July 2009
imposed an additional special margin of 20% on traders with long position on all running contracts
of Potato and the contracts yet to be launched in the said commodity. This margin was to be
collected in cash. The directives were made effective from 27th July 2009.
D.
Extension of Early Delivery System
The Commission on 27th August 2009, after considering the requests of the National
exchanges, extended the benefits of Early Delivery System to the Guarseed contracts with effect
from the date of the contracts expiring from October 2009.
2.7.4
Upgradation and transformation of Ahmedabad Commodity Exchange
The Commission, on 14th May 2009, conveyed the in-principle approval of the
Government to the Ahmedabad Commodity Exchange, Ahmedabad for its upgradation and
transformation to the status of a Multi Commodity National Exchange, as Ahmedabad Commodity
Exchange Limited (“new company”) subject to certain conditions. Some of the main conditions
imposed were as follows:
(i)
The authorized equity share capital of the new company not to be less than Rs.100
crore,
(ii)
The equity fund of the company (paid up equity capital and share premium paid in
cash only) to be not less than Rs.100 crore,
(iii) The subscribed and paid up equity capital to be not less than Rs.50 crore,
(iv) Allocation of the equity shares to the existing members to be restricted to a
maximum of 23% before recognition and subject to certain conditions,
(v) Atleast 26% equity capital to be allotted to entities mentioned in 5.3(a) and
5.3(b)(ii) of the of the Guidelines for new National Exchanges dated 14th May 2008,
(vi) No individual to hold more than 1% of the paid up equity capital of the Exchange
and the total of such individual holdings not to exceed 25% of the paid up capital of the
New Company,
(vii) The shareholding of anchor investor, i.e. M/s. Kotak Mahindra Bank Ltd., either
individually or together with persons acting in concert with it, to be not more than 51% at
the time of recognition of the Exchange as a multi commodity National Exchange. Which
would be brought down to 40% within one year from the date of recognition and further to
26% or less within two years beginning with the 4th year from the date of recognition of
the Exchange and, thereafter, to a level as may be specified in by the Government/FMC
from time to time,
(viii) Shareholding of the following categories of shareholders in the Exchange to the
extent indicated below to be subject to a lock-in period of 3 years from the date of
recognition as a multi-commodity National Exchange:
(a) Anchor-Investor to the extent of 40%,
(b) Other shareholders other than member – shareholders.
(ix)
Each Investor in the new company to be a fit and proper person. The criteria for
fit and proper person would be as specified in the guidelines for new National Commodity
Exchanges dated 14.5.2008,
(x)Settlement Guarantee Fund and Investor Protection Fund to be created as per the
guidelines by the FMC issued from time to time.
18
2.7.5
Guidelines for Equity Structure of National Commodity Exchanges:
With the approval of the Ministry, the Commission on 4th August 2009 issued guidelines
on the equity structure of the Nationwide Multi-Commodity Exchanges after 5 years of their
operation.The Guidelines for grant of recognition to the new national commodity exchanges and
the guidelines on the equity structure of nationwide multi commodity exchanges after five years of
their operation are at Annexure V-A & B.
2.7.6
Guidelines on Dealings in Cash with Members
The Commission, on 23rd July 2009, issued the following directions to all National
Commodity Exchanges with respect to dealing in cash with the members.
(i)
Members should not accept cash from the client whether against obligations or
as margin money for trading in commodity derivatives,
(ii)
All payments should be received /made by the members from/to the clients
strictly by account payee crossed cheques/ demand drafts or by way of direct credit into
the bank account through EFT, or any other mode allowed by RBI. The members should
accept the cheques drawn only by the clients and also issue cheques in favour of the
clients only, for their transactions. However, in exceptional circumstances, the members
may receive the amount in cash to the extent not in violation of the provisions of Income
Tax Act, as may be in force from time to time.
(iii)
The Exchanges should make necessary amendments to their relevant bye-laws,
rules and regulations and circulars for the implementation of the above directions
immediately, and, prescribe suitable penal action for the violation of the above provisions,
2.7.7
Uniform Penalty for National Exchanges:
The Commission examined the penalties imposed by the National Exchanges on the
members for various irregularities, shortcomings and thereafter rationalized the entire penalty
structure. A two– pronged approach was followed, i.e. it was ensured that the penalties would be
adequate so to act as a deterrent and would be uniform across the exchanges so as to rule out the
possibility of regulatory arbitrage. Special attention was paid to the penal provisions related to
client protection. The Commission, on 5th March 2010, notified the uniform penalty structure for
proper regulation of the markets in an equitable manner and to discourage malpractices. In
addition to the financial penalties, the Exchanges were also directed to deactivate the trading
terminals of the members and initiate disciplinary measure, which may culminate into suspension
of membership.
The Commission felt that the interest of market participants would be well served in case
the uniform penalty structure is implemented in its true spirit by the Exchanges. The details of
penalties are annexed at Annexure VI.
2.7.8
No extension of Trade Timing due to Sun Outage
The Commission, on 18th September, 2009, directed all National Multi Commodity
Exchanges to decide upon the suspension of the trading during ‘Sun Outage’, taking in
consideration the connectivity used by the Exchange and its members during the period from 22nd
September 2009 to 9th October 2009 (both days inclusive). However, there would be no extension
of the trade timings beyond normal timings in that period.
2.7.9
Exchange of Futures for Related Physicals (EFP)
The Commission on 12th October 2009 approved the proposal of the MCX for
introduction of EFP transactions. The EFP scheme was approved for implementation in Gold and
19
Gold Mini, Silver and Silver Mini, Copper, Zinc, Nickel, Lead, Aluminums, Chana, Mentha Oil
and Wheat contracts w.e.f. 1st November 2009.
2.7.10 Alternate Futures Settlement transactions
The Commission on 12th October 2009 approved the proposal of the NCDEX for
introduction of Alternate Futures Settlement transactions in five commodities viz., Soybean, Steel,
Guarseed, Rape/mustardseed and Cotton w.e.f. 1st November 2009.
2.7.11 Inactive Client Account
After inspection of the members of the National Exchanges it was observed by the
Commission that there were large number of inactive clients and there was lack of awareness
about when to consider an account as “inactive”. The Commission, therefore, on 7th December
2009, re-iterated its earlier directives with regard to inactive client accounts and directed, inter
alia, that those clients who have not operated their account during the last six months may be
considered as inactive client.
2.7.12 Registration of Members of the recognized Exchange:
The system of membership registration continued during the period. The total number of
members registered up to March 2010 was 4809. The total number of intermediaries registered up
to March 2010 was 206, of which 33 were warehouses and 173 were others (viz. Depository
Participants, Clearing Banks, Assayers & others).
2.8
Developmental Measures:
The developmental measures taken by FMC during the year aimed at;
Strengthening regulatory mechanism by regular interaction with various market
constituents and entering into international collaborations.
Increasing participation in the market by creating awareness of the practices prevalent and
the economic functions of the market.
Building the capabilities of the futures industry in the country by attracting trained
manpower.
The developmental initiatives of the FMC comprise conducting of awareness
programmes, meetings with stakeholders, conducting training programmes, tie ups with
educational institutions, conducting studies and collaboration with international regulators.
2.8.1
Meeting with the various stakeholders/conferences:
The Commission conducted various meetings with different category of stakeholders of
the futures market to take feed back from them to improve the functioning of the futures
markets. The inputs received during these meetings were utilized while framing the regulatory
policies in the Commission. Some important meetings held are as under:
A meeting with the South Zone Members of the National Exchanges was held on 3rd July
2009 concerning members from the states of Karnataka, Kerala, Tamil Nadu and Andhra
Pradesh.
A meeting with the West Zone Members of the National Exchanges was held at Mumbai
on 31st July 2009. The meeting was attended by senior officers of FMC, the top
management teams of the three National Exchanges and 30 members of the National
Exchanges functioning in the State of Maharashtra, Gujarat and Madhya Pradesh.
A meeting with the corporate entities in the Agri-Business sector was held at Hyderabad
on 28th October 2009 to get their feedback on the benefits that had accrued to the
20
2.8.2
participants by hedging on the exchange platform and the policy initiatives required for
enhancing their participation.
A conference of prominent farmer representatives and farmer opinion makers was
organized at New Delhi on 24.11.2009, to brief them about the functioning of the
Commodity Futures Market and to elicit their views on how farmers can benefit from this
market.
A meeting with the East Zone Members of the National Exchanges was held at Kolkata
on 18th February 2010 concerning members from West Bengal. The Meeting was
attended by senior officers of the FMC and the National Exchanges.
A meeting of the FMC and the National Exchanges with the trade and Manufacturers’
Association was held at Mumbai on 22nd March 2010. The meeting was attended by
representatives of trade and manufacturers association.
A meeting with the National Commodity Exchanges viz. MCX, NCDEX, NMCE, ICEX
corporate sector (Metals) members of National Commodity Exchanges and the Forward
Market Commission was held at Mumbai on 26th March 2010. A meeting was attended by
the representatives of 15 corporate representatives from metal sectors, representatives of
the National Commodity Exchanges and the senior officers of the FMC.
The Forward Markets Commission, in association with the National Commodity
Exchanges, organized a meeting with the members of the North Zone on 30th March 2010
at New Delhi. A meeting was attended by the representatives of the exchanges, members
of the exchanges and the officers of the FMC.
An interactive meeting with Members of Parliament was organised by the Consortium of
Indian Farmers Association (CIFA) to discuss developments in the commodity futures
market at New Delhi on 1st December, 2009. The Forward Markets Commission and the
National Exchanges were also invited to make presentation in the meeting. A detailed
presentation on the impact of commodity futures market on pricing of agricultural produce
was made to the participants.
Awareness programmes.
During 2009-10, 515 awareness programmes were organized for various participants such
as farmers, processors, exporters; banks warehouse officials, cooperatives, members of exchanges
and their clients. Of these 423 were exclusively for farmers. During 2008-09, 197 awareness
programmes were held, out of which 107 were exclusively held for the farmers. Details of
awareness programmes held during 2009-10 are given in Annexure VII –A & B.
2.8.3
Training/Capacity Building Programmes:
The Commission has tied up with various training institutions for conducting training to
various segments of the trade. During the 2009-10, 63 training programmes were held for the
benefit of various functionaries and three programmes were held for FMC Officers and staff. The
details of the capacity building programmes held for various functionaries are given in Annexure
VIII.
2.8.4
Monitoring of commodity trading by the Commission:
The Commission keeps a close watch on the day to day trading activities of the members
of the Exchanges. Necessary clarifications are sought from the concerned Exchanges as and when
required.
2.9
Inspection of books of accounts of Exchanges and their members:
The Commission has been inspecting the books of accounts of the Exchange Members
particularly of 3 National level Commodity Exchanges, viz. MCX, Mumbai, NCDEX, Mumbai
and NMCE, Ahmedabad on a regular basis since 2006-07. During the F.Y. 2009-10, 298 new
21
audits of members of the National Commodity Exchanges were assigned. Besides, audit of 3
National Exchanges and 14 Regional Exchanges was also assigned to the Auditors.
2.10
Attending to Client Complaints/Grievances
The Commission receives complaints from the clients registered with the Exchange
Members alleging unauthorized trades being executed by the Members in their account, contract
notes/account statements not being received from the members, misutilisation of clients’ money
etc. The complaints are forwarded to the respective exchanges for settling the grievances of the
clients expeditiously. During the year 2009-10, 55 complaints were redressed. During the same
period 90 fresh complaints were received. Several guidelines were issued to the Exchanges to
streamline their systems of redressal of clients grivences.
22
CHAPTER III
COMMODITY FUTURES MARKET IN 2009-10– A REVIEW
The Indian Commodity Futures Markets continued to grow, despite the suspension of
futures trading in a few agricultural commodities. During the year 109 commodities were
regulated under the auspices of the recognized Exchanges. During 2009-10, 21 recognized
exchanges were functioning. Out of the 109 commodities, regulated by the FMC, in terms of value
of trade, Gold, Silver, Copper, Nickel, Zinc, Lead, Guarseed, Soy Oil, Chana, Jeera and Guargum
were the prominently traded commodities.
Volume of Trading and Value of Trade during the year 2009-10 at Major
Commodities
Volume of Trading – In lakh tonne
Value - In Rs. Crore
Sr.No
Name of the Commodity
Volume
A
i
ii
iii
Bullion
Gold
Silver
Platinum
Total for A
B
2009-10
Value
0.126
4.600
0.000
1997801.0961
1165728.5591
622.5880
4.73
3164152.24
Metals other than Bullion
i
ii
iii
iv
Aluminium
Copper
Lead
Nickel
57.38
325.81
244.50
33.79
53904.46
942590.17
240268.62
284601.94
v
vi
vii
viii
Sponge Iron
Steel
Tin
Zinc
0.00
35.94
0.02
284.48
981.92
0.00
8813.97
132.84
271324.32
1801636.31
530.42
0.00
0.00
31.77
0.00
8.41
500.62
2.31
1226.69
59.46
61.63
3.68
26.50
0.28
19.61
5.81
1514.02
127950.47
0.00
0.00
4015.01
0.00
790.56
235605.92
13173.04
283431.09
29593.86
4575.74
1998.17
33720.04
2503.69
27705.73
7123.20
445762.51
Total for B
C
i
ii
iii
iv
v
vi
vii
Agricultural commodities
Chana/Gram
Urad
Tur
Wheat
Rice
Maize
Soy Oil
viii
ix
Mentha Oil
Guarseed
x
xi
xii
xiii
xiv
xv
xvi
xvii
Guar Gum
Potato
Chillis
Jeera(Cuminseed)
Cordmom
Pepper
Rubber
other agri
23
Volume of Trading and Value of Trade during the year 2009-10 at Major
Commodities
Volume of Trading – In lakh tonne
Value - In Rs. Crore
Sr.No
Name of the Commodity
Total for C
Volume
3991.21
2009-10
Value
1217949.04
D
E
F
Energy
5162.95
1577882.06
Plastic
0.00
0.00
Other
2.12
3134.40
Grand Total (A+B+C+D+E+F)
10142.93
7764754.05
Note: Natural Gas, Electricity & Heating Oil Volumes are not included in the Total
Volume because Volumes in Natural Gas in mmBtu, Electricity in MW & Heating Oil
in USGLN at MCX, Mumbai.
The details of major commodities traded in the top 4 Commodity Exchanges which
accounted for 99 of the total value of trade in 2009-10 are given below:I) MULTI COMMODITY EXCHANGE OF INDIA, MUMBAI (MCX)
During 2009-10, MCX accounted for 82.34% of the total value of trade in the commodity
market. In actual terms the total value of trade in the MCX was Rs. 63.93 lakh crore. During the
year, 43 commodities were traded at the MCX platform. Amongst which predominant
commodities traded during the year were Gold, Crude Oil, Silver, Copper, Natural Gas, Nickel
and Zinc. The total value of trade and percentage share of each of these predominantly traded
commodities at MCX, Mumbai in 2009-10 is given below:
Total volume and value of trade at MCX- 2009-2010
0.12
1922207.39
share of
value to
total
30.07
5023.45
1219045.51
19.07
SILVER
4.51
1141707.31
17.86
4
COPPER
313.55
903409.43
14.13
5
NATURAL GAS
15857256250 @
322249.15
5.04
6
NICKEL
32.71
275277.35
4.31
7
ZINC
272.95
260172.12
4.07
8
OTHERS
501.75
349233.91
5.46
6149.034
6393302.17
100.00
S.No
Commodity
1
GOLD
2
CRUDE OIL
3
TOTAL
Value-Ra.
Crs
Vol-L.T
@ Volume of trading of Natural Gas not included in the total as the Unit of trading is in mmBtu.
24
The graphical presentation of the percentage share of the prominently traded commodities at MCX
Mumbai is given below.
% share of the com m odities traded at the MCX, Mum bai
Other
5%
Zinc
4%
Nickel
4%
Gold
31%
Natural Gas
5%
Copper
14%
Crude oil
19%
Silver
18%
Gold
Crude oil
Silver
Copper
Natural Gas
Nickel
Zinc
Other
i) Gold:
The ready price of Gold, which was quoted at Rs. 15066.00 per 10 gm on 31.03.2009 rose
to Rs. 16300.00 on 31.03.2010, showing a rise of 8.19%. In the futures section, the price which
was quoted at Rs.15132.00 per 10 gm (April 2009 contract) on 31.03.2009 rose to Rs.16295.00
(April 2010 contract) per 10 gm on 31.03.2010 showing a rise of 7.69%.
The graph indicating the trend of ready and future prices of gold at MCX, Mumbai is
given below.
Spot & Futures price s of Gold at MCX
18000
17500
Rs. per 10 Gm
17000
16500
16000
15500
15000
14500
4-Apr-09
5-Aug-10
5-Oct-10
5-Jun-09
5-Oct-09
5-Dec-09
5-Apr-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
5-Feb-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
5-Aug-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
SPOT
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
14000
5-Jun-10
The total quantity traded on the Exchange for all contracts of Gold traded was 0.121 Lakh
tonnes valued at Rs. 1922207.390 crore.
ii) Crude Oil
The ready price of Crude Oil, which was quoted at Rs. 2473.00 per Barrel on 31.03.2009
rose to Rs. 3702.00 on 31.03.2010, showing a rise of 49.70%. In the futures section, the price
25
which was quoted at Rs. 2481.00 per Barrel (April 2009 contract) on 31.03.2009 rose to
Rs.3751.00 (April 2010 contract) per Barrel on 31.03.2010 showing a rise of 51.19%.
The graph indicating the trend of ready and future prices of Crude Oil at MCX, Mumbai is
given below.
Spot & Future s prices of Cr ude Oil at MCX
4000
3750
Rs. per Barrel
3500
3250
3000
2750
SPOT
15-Apr-09
15-May-09
15-Jun-09
15-Jul-09
14-Aug-09
21-Sep-09
19-Oct-09
19-Nov-09
18-Dec-09
19-Jan-10
19-Feb-10
19-Mar-10
19-Apr-10
19-May-10
21-Jun-10
19-Jul-10
19-Aug-10
20-Sep-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
22-Dec-09
8-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
18-Aug-09
4-Aug-09
7-Jul-09
21-Jul-09
23-Jun-09
9-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
2250
31-Mar-09
2500
The total quantity traded in Crude Oil was 5023.451 lakh tonnes valued at Rs.
1219045.513 crore.
iii) Silver
The ready price of Silver, which was quoted at Rs. 21890.00 per kg on 31.03.2009 rose to
Rs. 26875.00 on 31.03.2010, showing a rise of 22.77%. In the futures section, the price which was
quoted at Rs. 21855.00 per kg (May 2009 contract) on 31.03.2009 rose Rs. 26935.00 per kg (May
2010 contract) on 31.03.2010 showing a rise of 23.24%.
The graph indicating the trend of ready and future prices of Silver at MCX, Mumbai is
given below.
Spot & Futures prices of Silver at MCX
30000
Rs. per Kg
27500
25000
22500
SPOT
5-May-09
4-Jul-09
5-Dec-09
5-Mar-10
5-May-10
5-Jul-10
4-Sep-10
30-Mar-10
2-Mar-10
16-Mar-10
16-Feb-10
2-Feb-10
19-Jan-10
5-Jan-10
22-Dec-09
8-Dec-09
24-Nov-09
10-Nov-09
27-Oct-09
13-Oct-09
29-Sep-09
15-Sep-09
1-Sep-09
18-Aug-09
21-Jul-09
5-Sep-09
4-Aug-09
7-Jul-09
23-Jun-09
9-Jun-09
26-May-09
12-May-09
28-Apr-09
14-Apr-09
31-Mar-09
20000
4-Dec-10
The total quantity traded in all contracts of silver was 4.508 Lakh tonnes valued at Rs.
1141707.307 crore.
26
iv) Copper
The ready price of Copper, which was quoted at Rs. 198.85 per kg on 31.03.2009 rose to
Rs. 353.05 on 31.03.2010, showing a rise of 77.55%. In the futures section, the price which was
quoted at Rs. 207.10 per kg (April 2009 contract) on 31.03.2009 rose to Rs. 351.35 per kg (April
2010 contract) on 31.03.2010 showing a rise of 69.65%.
The graph indicating the trend of ready and future prices of Copper at MCX, Mumbai is
given below.
Spot & Futures prices of Copper at MCX
400
Rs. per Kg
350
300
250
200
30-Apr-09
30-Jun-09
30-Nov-09
26-Feb-10
30-Jun-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
30-Apr-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
31-Aug-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
SPOT
12-May-09
14-Apr-09
31-Mar-09
150
31-Aug-10
The total quantity traded in Copper contracts was 313.546 lakh tonnes valued at Rs.
903409.430 crore.
v) Natural Gas
The ready price of Natural Gas, which was quoted at Rs. 191.00 per mmBtu on
31.03.2009 declined to Rs.178.50 on 31.03.2010, showing a fall of 6.54%. In the futures section,
the price which was quoted at Rs. 190.90 per mmBtu (April 2009 contract) on 31.03.2009
declined to Rs.177.60 per mmBtu (April 2010 contract) on 31.03.2010 showing a fall of 6.97%.
The graph indicating the trend of ready and future prices of Natural Gas at MCX, Mumbai
is given below.
Spot & Futures prices of NATURAL GAS at MCX
300
275
225
200
175
150
20-Apr-09
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
25-Sep-09
28-Dec-09
25-Jan-10
23-Feb-10
26-Mar-10
27-Apr-10
25-May-10
25-Jun-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
27-Oct-09
16-Feb-10
5-Jan-10
SPOT
19-Jan-10
22-Dec-09
8-Dec-09
24-Nov-09
10-Nov-09
27-Oct-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
23-Jun-09
9-Jun-09
26-May-09
12-May-09
28-Apr-09
14-Apr-09
125
31-Mar-09
Rs. per m mBtu
250
23-Nov-09
27
The total quantity traded in Natural Gas contracts was 15,857,256,250 mmBtu valued at
Rs. 322249.149 crore.
vi) Nickel
The ready price of Nickel, which was quoted at Rs. 479.10 per kg on 31.03.2009 rose to
Rs. 1125.00 on 31.03.2010, showing a rise of 134.96%. In the futures section, the price which was
quoted at Rs. 479.10 per kg (March 2009 contract) on 31.03.2009 rose to Rs. 1125.20 per kg
(March 2010 contract) on 31.03.2010 showing a rise of 134.86%.
The graph indicating the trend of ready and future prices of Nickel at MCX, Mumbai is
given below.
Spot & Futur es price s of Nick e l at MCX
1200
1100
1000
Rs. per Kg
900
800
700
600
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
12-May-09
28-Apr-09
14-Apr-09
400
31-Mar-09
500
SPOT
31-Mar-09
30-Apr-09
29-May-09
30-Jun-09
31-Jul-09
28-Aug-09
30-Sep-09
30-Oct-09
30-Nov-09
31-Dec-09
29-Jan-10
26-Feb-10
31-Mar-10
30-Apr-10
28-May-10
The total quantity traded in Nickel contracts was 32.710 lakh tonnes valued at Rs.
275277.347 crore.
vii) Zinc
The ready price of Zinc, which was quoted at Rs. 66.25 per kg on 31.03.2009 rose to Rs.
106.50 on 31.03.2010, showing a rise of 60.75%. In the futures section, the price which was
quoted at Rs. 66.25 per kg (March 2009 contract) on 31.03.2009 raised Rs. 106.45 per kg (March
2010 contract) on 31.03.2010 showing a rise of 60.68%.
The graph indicating the trend of ready and future prices of Zinc at MCX, Mumbai is
given below.
28
Spot & Futures prices of Zinc at MCX
125
115
Rs. per Kg
105
95
85
75
SPOT
31-Mar-09
30-Apr-09
29-May-09
30-Jun-09
31-Jul-09
28-Aug-09
30-Sep-09
30-Oct-09
30-Nov-09
31-Dec-09
29-Jan-10
26-Feb-10
31-Mar-10
30-Apr-10
28-May-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
65
The total quantity traded in Zinc contracts was 272.947 lakh tonnes valued at Rs.
260172.120 crore.
II) THE NATIONAL COMMODITY & DERIVATIVES EXCHANGE LTD., MUMBAI
(NCDEX)
During 2009-10, NCDEX, Mumbai accounted for 11.82% of the total value of trade in the
commodity market. In actual terms the total value of trade in the NCDEX, Mumbai was Rs.9.18
lakh crore. During the year, 40 commodities were traded at NCDEX, Mumbai. Amongst which
prominent commodities traded during the year were Guar Seed, Soya Oil, Chana, Soyabean, Rape
Seed/Mustard Seed, Turmeric and Jeera at NCDEX, Mumbai. The total value of trade and the
percentage share of each of these commodities to the total value of trade at NCDEX, Mumbai is
given below.
Total volume and value of trade at NCDEX- 2009-2010
1115.25
258031.27
% Share Of
Value to Total
Value
28.12
SOYA_OIL
289.66
136651.76
14.89
3
CHANA
439.37
106295.87
11.58
4
SOYABEAN
434.13
98926.85
10.78
5
RAPE_MUSTARD_SEED
314.15
84778.79
9.24
6
TURMERIC
112.94
79967.29
8.71
7
JEERA
26.50
33720.03
3.67
8
OTHER
TOTAL
405.45
119212.85
12.99
3137.44
917584.71
100.00
S.No
Commodity
1
GUAR_SEED
2
Volume
(lakh tones)
Value
(Rs. Crore)
The graphical presentation of the percentage share of the prominently traded commodities
at NCDEX, Mumbai is given below.
29
% Share of the value of prom inently traded com m odities at NCDEX,
Mum bai during 2009-10 (April - March).
Other
13%
Jeera
4%
Guar Seed
27%
Turmeric
9%
Rape/Mustard
Seed
9%
Soyabean
11%
Soya Oil
15%
Chana
12%
Guar Seed
Soya Oil
Chana
Soyabean
Rape/Mustard Seed
Turmeric
Jeera
Other
i) Guar Seed:
The ready price of Guar Seed, which was quoted at Rs. 1622.10 per 100 Kg on 31.03.2009
rose to Rs. 2302.45 on 31.03.2010, showing a rise of 41.94%. In the futures section, the price
which was quoted at Rs. 1622.00 per 100 kg (April 2009 contract) on 31.03.2009 rose to
Rs.2301.00 (April 2010 contract) per 100 Kg on 31.03.2010 showing a rise of 41.86%.
The graph indicating the trend of ready and future prices of Guar Seed at NCDEX,
Mumbai is given below.
SPOT & FUTURES PRICES OF GUAR SEED TRADED AT NCDEX
3250
RS.PER 100 KG
3000
2750
2500
2250
2000
1750
SPOT
20-Apr-09
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
19-Feb-10
19-Mar-10
20-Apr-10
20-May-10
18-Jun-10
20-Jul-10
20-Aug-10
20-Sep-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
1500
The total quantity traded in for all contracts of Guar Seed traded was 1115.246 Lakh
tonnes valued at Rs. 258031.270 crore.
ii) Soy Oil
The ready price of Soy Oil, which was quoted at Rs. 448.30 per 10 Kg on 31.03.2009 rose
to Rs. 450.60 on 31.03.2010, showing a rise of 0.51%. In the futures section, the price which was
quoted at Rs. 446.00 per 10 kg (April 2009 contract) on 31.03.2009 rose to Rs.449.95 (April 2010
contract) per 10 Kg on 31.03.2010 showing a rise of 0.89%.
30
The graph indicating the trend of ready and future prices of Soy Oil at NCDEX, Mumbai
is given below.
SPOT & FUTURES PRICES OF SOY OIL TRADED AT NCDEX
525
RS. PER 10 KG
500
475
450
425
SPOT
20-Apr-09
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
19-Feb-10
19-Mar-10
20-Apr-10
20-May-10
18-Jun-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-J an-10
19-J an-10
8-Dec-09
22-Dec-09
24-Nov-09
27-O ct-09
10-Nov-09
13-O ct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-J un-09
23-J un-09
26-May-09
12-May-09
28-Apr-09
14-Apr-09
31-Mar-09
400
The total quantity traded in Soy Oil was 289.661 lakh tonnes valued at Rs. 136651.759
crore.
iii) Chana
The ready price of Chana, which was quoted at Rs. 2114.75 per 100 Kg on 31.03.2009
rose to Rs. 2259.55 on 31.03.2010, showing a rise of 6.85%. In the futures section, the price which
was quoted at Rs. 2192.00 per 100 kg (April 2009 contract) on 31.03.2009 rose to Rs.2289.00
(April 2010 contract) per 100 Kg on 31.03.2010 showing a rise of 4.43%.
The graph indicating the trend of ready and future prices of Chana at NCDEX, Mumbai is
given below.
SPOT & FUTURES PRICES OF CHANA TRADED AT NCDEX
3000
2600
2400
2200
30-M ar-10
2-M ar-10
16-M ar-10
2-F eb-10
16-F eb-10
5-J an-10
19-J an-10
22-D ec -09
8-D ec -09
24-N ov -09
2 7 - O c t- 0 9
10-N ov -09
1 3 - O c t- 0 9
29-S ep-09
15-S ep-09
1-S ep-09
18-A ug-09
2 1 - J u l- 0 9
4-A ug-09
7 - J u l- 0 9
23-J un-09
9-J un-09
26-M ay -09
12-M ay -09
28-Apr-09
14-Apr-09
2000
31-M ar-09
R S. PER 100 KG
2800
SPOT
20-Apr-09
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
19-Feb-10
19-Mar-10
20-Apr-10
20-May-10
18-Jun-10
20-Jul-10
20-Aug-10
31
The total quantity traded in all contracts of Chana was 439.365 Lakh tonnes valued at Rs.
106295.871 crore.
iv) Soya Bean
The ready price of Soya Bean, which was quoted at Rs. 2337.00 per 100 Kg on
31.03.2009 declined to Rs.2029.00 on 31.03.2010, showing a fall of 13.18%. In the futures
section, the price which was quoted at Rs. 2341.50 per 100 Kg (April 2009 contract) on
31.03.2009 declined to Rs.2038.00 per 100 Kg (April 2010 contract) on 31.03.2010 showing a fall
of 12.96%.
The graph indicating the trend of ready and future prices of Soya Bean at NCDEX,
Mumbai is given below.
SPOT & FUTURES PRICES OF SOY BEAN TRADED AT NCDEX
2900
R S .P E R 1 0 0 K G
2750
2600
2450
2300
2150
2000
SPOT
20-Apr-09
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
19-Feb-10
19-Mar-10
20-Apr-10
20-May-10
18-Jun-10
20-Jul-10
20-Aug-10
3 0 - M ar - 1 0
2 - M ar - 1 0
1 6 - M ar - 1 0
2 - F e b- 1 0
1 6 - F e b- 1 0
5 - J a n- 1 0
1 9 - J a n- 1 0
8-D ec -09
22-D ec -09
24-N ov -09
2 7 - O c t- 0 9
10-N ov -09
1 3 - O c t- 0 9
2 9 - S e p- 0 9
1 - S e p- 0 9
1 5 - S e p- 0 9
4 - A u g- 0 9
1 8 - A u g- 0 9
7 - J ul- 0 9
2 1 - J ul- 0 9
9 - J u n- 0 9
2 3 - J u n- 0 9
26-M ay -09
2 8 - A p r- 0 9
12-M ay -09
1 4 - A p r- 0 9
3 1 - M ar - 0 9
1850
The total quantity traded in Soya Bean contracts was 434.133 lakh tonnes valued at Rs.
98926.845 crore.
v) Rape / Mustard Seed
The ready price of R/M Seed, which was quoted at Rs. 454.15 per 20 Kg on 31.03.2009
rose to Rs. 504.95 on 31.03.2010, showing a rise of 11.19%. In the futures section, the price which
was quoted at Rs. 459.60 per 20 kg (May 2009 contract) on 31.03.2009 rose to Rs.505.35 (April
2010 contract) per 20 Kg on 31.03.2010 showing a rise of 9.95%.
The graph indicating the trend of ready and future prices of Rape Seed/Mustard Seed at
NCDEX, Mumbai is given below.
32
SPOT & FUTURES PRICES OF RM SEED TRADED AT NCDEX
650
R S.PER 20 KG
600
550
500
450
SPOT
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
20-Apr-10
20-May-10
18-Jun-10
20-Jul-10
30-M ar-10
2-M ar-10
16-M ar-10
2-F eb-10
16-F eb-10
5-J an-10
19-J an-10
8-D ec -09
22-D ec -09
24-N ov -09
27-O c t-09
10-N ov -09
13-O c t-09
29-Sep-09
15-Sep-09
1-Sep-09
4-Aug-09
18-Aug-09
7-J ul-09
21-J ul-09
9-J un-09
23-J un-09
26-M ay -09
28-Apr-09
12-M ay -09
14-Apr-09
31-M ar-09
400
The total quantity traded in R/M Seed contracts was 314.147 lakh tonnes valued at Rs.
84778.793 crore.
vi) Turmeric
The ready price of Turmeric, which was quoted at Rs. 4711.65 per 100 Kg on 31.03.2009
rose to Rs. 11293.20 on 31.03.2010, showing a rise of 139.69%. In the futures section, the price
which was quoted at Rs. 5226.00 per 100 kg (April 2009 contract) on 31.03.2009 rose to
Rs.10932.00 (April 2010 contract) per 100 Kg on 31.03.2010 showing a rise of 109.18%.
The graph indicating the trend of ready and future prices of Turmeric at NCDEX,,
Mumbai is given below.
SPOT & FUTURES PRICES OFTURMERIC TRADED AT NCDEX
13500
RS. PER 100 KG
12500
11500
10500
9500
8500
7500
6500
5500
SPOT
20-Apr-09
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Apr-10
20-May-10
18-Jun-10
30-Mar-10
2-Mar-10
16-Mar-10
2-F eb-10
16-F eb-10
5-J an-10
19-J an-10
22-Dec -09
8-Dec -09
24-Nov -09
10-Nov -09
27-O c t-09
13-O c t-09
29-Sep-09
15-Sep-09
1-Sep-09
18-Aug-09
21-Jul-09
4-Aug-09
7-Jul-09
23-J un-09
9-J un-09
26-May -09
12-May -09
28-Apr-09
14-Apr-09
31-Mar-09
4500
18-Sep-09
The total quantity traded in Turmeric contracts was 112.937 lakh tonnes valued at Rs.
79967.293 crore.
33
vii) Jeera
The ready price of Jeera, which was quoted at Rs. 11542.40 per 100 Kg on 31.03.2009
rose to Rs. 11882.15 on 31.03.2010, showing a rise of 2.94%. In the futures section, the price
which was quoted at Rs. 12123.00 per 100 Kg (May 2009 contract) on 31.03.2009 declined to
Rs.11199.00 per 100 Kg (April 2010 contract) on 31.03.2010 showing a fall of 7.62%.
The graph indicating the trend of ready and future prices of Jeera at NCDEX, Mumbai is
given below.
SPOT & FUTURES PRICES OF JEERA TRADED AT NCDEX
18000
R S. PER 100 KG
17000
16000
15000
14000
13000
12000
11000
20-May-09
19-Jun-09
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
18-Dec-09
20-Jan-10
19-Feb-10
19-Mar-10
20-Apr-10
20-May-10
18-Jun-10
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
SPOT
16-Feb-10
5-J an-10
19-J an-10
8-D ec -09
22-D ec -09
24-N ov -09
27-O c t-09
10-N ov -09
13-O c t-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-J ul-09
21-J ul-09
9-J un-09
23-J un-09
26-May -09
28-Apr-09
12-May -09
14-Apr-09
31-Mar-09
10000
20-Nov-09
The total quantity traded in Jeera contracts was 26.504 lakh tonnes valued at Rs.
33720.034 crore.
III) NATIONAL MULTI-COMMODITY
AHMEDABAD (NMCE)
EXCHANGE
OF
INDIA
LIMITED,
During 2009-10, NMCE, Ahmedabad accounted for 2.93% of the total value of trade in
the commodity market. In actual terms the total value of trade in the NMCE, Ahmedabad was
Rs.2.28 lakh crore. During the year 26 commodities were traded at NMCE, Ahmedabad. Amongst
which prominent commodities traded during the year were Rape Seed/ Mustard Seed, Sacking,
Soya Oil, Guar Seed and Chana. The total value of trade and the percentage share of each of these
commodities to the total value of trade at NMCE, Ahmedabad is given below.
Total Volume and Value of trade at NMCE, Ahmedabad 2009-10
Commodities
RAPE/MUSTARD
SEED
SACKING
SOY OIL
GUAR SEED
CHANA
OTHERS
Total
Total Volme
( In lakh
tonnes)
113.28
54.74
47.77
82.20
62.31
135.61
495.91
Total Value
(In Rs.Crore)
26577.73
24238.77
22364.15
18579.55
14851.26
121290.02
227901.48
% share to
the total
value
11.66
10.64
9.81
8.15
6.52
53.22
100
34
i) Rape/Mustardseed :The ready price of Rape/Mustardseed, which was quoted at Rs.410.00 per quintal on
31.03.2009 rose to Rs.460.00 on 31.3.2010, registering a sharp rise of 12.20% over the year. In the
future section, the price of April 2009 contract, which was quoted at Rs. 411.70 per quintal on
31.3.2009 rose to Rs.462.00 on 31.3.2010 (April 2010 Contact) registering a rise of 12.22% over
the year.
The graph indicating the trend of ready and future prices of Rape / Mustard Seed at
NMCE, Ahmedabad is given below
Spot and futures prices of Rape/Mustard seed at NMCE,Ahmedabad
550.00
530.00
Rs.per 20 Kg
510.00
490.00
470.00
450.00
430.00
410.00
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
22-Dec-09
8-Dec-09
24-Nov-09
10-Nov-09
27-Oct-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
18-Aug-09
4-Aug-09
21-Jul-09
7-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
390.00
Date
Spot
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Nov-09
The total quantity of Rape Seed/ Mustard Seed traded at NMCE, Ahmedabad during the
year was 113.28 Lakh tones Valued at Rs. 26577.73 Crore.
ii) Sacking :The ready price of Sacking, which was quoted at Rs.2473.80 per quintal on 31.03.2009,
rose to Rs.2972.60 on 31.3.2010, registering a rise of 20.16% over the year. In the future section,
the price of April 2009 contract, which was quoted at Rs.2492.00 per quintal on 31.3.2009, rose to
Rs.3022.00 on 31.3.2010 (April 2010 Contract) registering a rise of 21.27% over the year.
The graph indicating ready and future prices of Sacking at NMCE, Ahmedabad is given
below
35
Spot and futures prices of Sacking at NMCE, Ahmedabad.
3500.00
Rs. per 100 Bags
3300.00
3100.00
2900.00
2700.00
2500.00
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
2300.00
Date
Spot
15-Apr-09
15-May-09
15-Jun-09
15-Jul-09
14-Aug-09
15-Sep-09
15-Oct-09
14-Nov-09
15-Dec-09
15-Jan-10
15-Feb-10
15-Mar-10
15-Apr-10
15-May-10
15-Jun-10
15-Jul-10
The total quantity of Sacking at NMCE, Ahmedabad during the year was 54.74 Lakh
tones Valued at Rs. 24238.77.00 Crore.
iii) Soy Oil :
The ready price of Soy oil which was quoted at Rs.449.00 per 10 Kg on 31.03.2009 rose
to Rs. 451.00 on 31.3.2010 registering a rise of 0.45 % over the year. In the future section, the
price of April 2009 contract, which was quoted at Rs.446.30 per quintal on 31.3.2009 rose to
Rs.450.00 on 31.3.2010 (April 2010 Contact) registering a rise of 0.83% over the year.
The graph indicating ready and future prices of Soy Oil at NMCE, Ahmedabad is given
below.
Spot and futures prices of Soy Oil at NMCE,Ahmedabad.
540.00
Rs.per 10 Kg
520.00
500.00
480.00
460.00
440.00
420.00
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
19-Jan-10
5-Jan-10
22-Dec-09
8-Dec-09
24-Nov-09
10-Nov-09
27-Oct-09
13-Oct-09
29-Sep-09
15-Sep-09
1-Sep-09
18-Aug-09
4-Aug-09
7-Jul-09
21-Jul-09
23-Jun-09
9-Jun-09
26-May-09
12-May-09
28-Apr-09
14-Apr-09
31-Mar-09
400.00
Date
Spot
20-Apr-09
20-May-09
20-Jun-09
20-Jul-09
20-Aug-09
19-Sep-09
20-Oct-09
20-Nov-09
19-Dec-09
20-Jan-10
20-Feb-10
20-Mar-10
20-Apr-10
20-May-10
19-Jun-10
20-Jul-10
The total quantity of Soy Oil traded at NMCE, Ahmedabad during the year was 47.77
Lakh tones Valued at Rs. 22364.15 Crore.
36
iv) Guarseed :The ready price of Guarseed, at NMCE, Ahmedabad, which was quoted at Rs.1643.00 per
quintal rose to Rs. 2278.00 on 31.3.2010 registering a rise of 38.65 % over the year. In the future
section, the price of April 2009 contract, which was quoted at Rs.1653.00 per quintal on 31.3.2009
rose to Rs.2281.00 on 31.3.2010 (April 2010 Contact) registering a rise 37.99 % over the year.
The graph indicating ready and future prices of Guar Seed at NMCE, Ahmedabad is given
below.
Spot and futures prices of Guar seed at NMCE,Ahmedabad.
3000
Rs. per 100 Kg
2800
2600
2400
2200
2000
1800
1600
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
19-Jan-10
5-Jan-10
22-Dec-09
8-Dec-09
24-Nov-09
27-Oct-09
10-Nov-09
13-Oct-09
29-Sep-09
15-Sep-09
1-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
1400
Date
Spot
20-Apr-09
20-May-09
20-Jun-09
20-Jul-09
20-Aug-09
19-Sep-09
20-Oct-09
20-Nov-09
19-Dec-09
20-Jan-10
20-Feb-10
20-Mar-10
20-Apr-10
20-May-10
19-Jun-10
20-Jul-10
The total quantity of Guar Seed traded at NMCE, Ahmedabad during the year was 82.20
Lakh tones Valued at Rs.18579.55 Crore.
v) Chana :The ready price of Chana at NMCE, Ahmedabad, which was quoted at Rs.2100.00 per
quintal rose to Rs. 2263.00 on 31.3.2010 registering a rise of 7.76 % over the year. In the future
section, the price of April 2009 contract, which was quoted at 2195.00 per quintal on 31.3.2009
rose to Rs.2288.00 on 31.3.2010 (April 2010 Contact) registering a rise of 4.24 % over the year.
The graph indicating ready and future prices of Chana at NMCE, Ahmedabad is given
below.
37
Spot and future prices of Chana at NMCE,Ahmedabad.
3100
Rs.per 100 Kg
2900
2700
2500
2300
2100
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
10-Nov-09
27-Oct-09
13-Oct-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
1900
Date
Spot
20-Apr-09
20-May-09
20-Jun-09
20-Jul-09
20-Aug-09
19-Sep-09
20-Oct-09
20-Nov-09
19-Dec-09
20-Jan-10
20-Feb-10
20-Mar-10
20-Apr-10
20-May-10
19-Jun-10
20-Jul-10
20-Aug-10
The total quantity of Chana traded at NMCE, Ahmedabad during the year was 62.31 Lakh
tones Valued at Rs. 14851.26 Crore.
IV) INDIAN COMMODITY EXCHANGE LTD. (ICEX), GURGAON
Indian Commodity Exchange, Ltd., Gurgaon which was granted recognition on the 9th
October 2009, on a permanent basis in respect of forward contracts in all the commodities in
which Section 15 is applicable and the commodities in which neither section 15 nor section 17 is
applicable, commenced trading in commodities, with the approval of the Commission with effect
from 27th November 2009.
% SHARE OF THE VALUE OF THE COMMODITIES TRADED AT ICEX, GURGAON, DURING
April'2009 to March' 2010
LEAD
0.45%
NETURAL GAS
0.75%
GUARSEED
0.06%
RSO
0.83%
SILVER
13.17%
COPPERCATHODE
20.44%
GOLD
43.08%
CRUDEOIL
21.22%
GOLD
CRUDEOIL
COPPERCATHODE
SILVER
RSO
NETURAL GAS
LEAD
GUARSEED
38
Volume and value of trade at ICEX- 2009-2010
0.00349
58778.43
SHARE OF
VALUE TO
TOTAL
43.08
110.34229
28946.04
21.22
COPPERCATHODE
8.38350
27889.39
20.44
4
SILVER
0.06680
17964.24
13.17
5
RSO
2.39650
1136.43
0.83
6
NATURAL GAS
41888750
1023.37
0.75
7
LEAD
0.61815
607.74
0.45
8
GUARSEED
0.29400
79.72
0.06
122.10473
136425.36
100.00
S.No
Commodity
1
GOLD
2
CRUDEOIL
3
Vol-L.T
TOTAL
Value-Rs. Crs
i) Gold:
The ready price of Gold, which was quoted at Rs. 17677.00 per 10 gm on 27.11.2009
declined to Rs. 16301.78 on 31.03.2010, showing a fall of 7.78%. In the futures section, the price
which was quoted at Rs. 18035.00 per 10 gm (February 2010 contract) on 27.11.2009 declined to
Rs.16294.00 per 10 gm (April 2010 contract) on 31.03.2010 showing a fall of 9.65%.
The graph indicating ready and future prices of Gold at ICEX, Gorgon is given below.
Spot & Futures prices of Gold at ICEX
18500
Rs. per 10 G m
18000
17500
17000
16500
SPOT
1-Feb-10
1-Apr-10
1-Jun-10
31-Mar-10
27-Mar-10
23-Mar-10
19-Mar-10
15-Mar-10
7-Mar-10
11-Mar-10
3-Mar-10
27-Feb-10
23-Feb-10
19-Feb-10
15-Feb-10
7-Feb-10
11-Feb-10
3-Feb-10
30-Jan-10
26-Jan-10
22-Jan-10
18-Jan-10
14-Jan-10
6-Jan-10
10-Jan-10
2-Jan-10
29-Dec-09
25-Dec-09
21-Dec-09
17-Dec-09
9-Dec-09
13-Dec-09
5-Dec-09
1-Dec-09
27-Nov-09
16000
2-Aug-10
The total quantity traded in for all contracts of Gold traded was 0.0034 Lakh tonnes
valued at Rs. 58778.429 crore.
ii) Crude Oil
The ready price of Crude Oil, which was quoted at Rs. 3552.00 per Barrel on 27.11.2009
rose to Rs. 3750.23 on 31.03.2010, showing a rise of 5.58%. In the futures section, the price which
was quoted at Rs. 3565.00 per Barrel (December 2009 contract) on 27.11.2009 rose Rs.3752.00
(April 2010 contract) per Barrel on 31.03.2010 showing a rise of 5.25%.
39
The graph indicating ready and future prices of Crude oil at ICEX, Gurgon is given below.
Spot & Futures prices of Crude Oil at ICEX
4000
Rs. per Barrel
3750
3500
3250
18-Dec-09
19-Jan-10
19-Feb-10
19-Mar-10
19-Apr-10
19-May-10
31-Mar-10
27-Mar-10
23-Mar-10
19-Mar-10
15-Mar-10
7-Mar-10
11-Mar-10
3-Mar-10
27-Feb-10
23-Feb-10
19-Feb-10
15-Feb-10
7-Feb-10
11-Feb-10
3-Feb-10
30-Jan-10
26-Jan-10
22-Jan-10
18-Jan-10
14-Jan-10
6-Jan-10
10-Jan-10
2-Jan-10
29-Dec-09
25-Dec-09
21-Dec-09
17-Dec-09
9-Dec-09
SPOT
13-Dec-09
5-Dec-09
1-Dec-09
27-Nov-09
3000
21-Jun-10
The total quantity traded in Crude Oil was 110.342 lakh tonnes valued at Rs. 28946.039
crore.
iii) Copper
The ready price of Copper, which was quoted at Rs. 319.03 per kg on 27.11.2009 rose to
Rs. 353.33 on 31.03.2010, showing a rise of 10.75%. In the futures section, the price which was
quoted at Rs. 321.50 per kg (February 2010 contract) on 27.11.2009 rose to Rs. 351.35 per kg
(April 2010 contract) on 31.03.2010 showing a rise of 9.28%.
The graph indicating ready and future prices of copper at ICEX, Gurgon is given below.
Spot & Futures prices of Copper at ICEX
360
350
Rs. per Kg
340
330
320
310
SPOT
26-Feb-10
30-Apr-10
30-Jun-10
31-Mar-10
27-Mar-10
23-Mar-10
19-Mar-10
15-Mar-10
11-Mar-10
7-Mar-10
3-Mar-10
27-Feb-10
23-Feb-10
19-Feb-10
15-Feb-10
11-Feb-10
7-Feb-10
3-Feb-10
30-Jan-10
26-Jan-10
22-Jan-10
18-Jan-10
14-Jan-10
10-Jan-10
6-Jan-10
2-Jan-10
29-Dec-09
25-Dec-09
21-Dec-09
17-Dec-09
13-Dec-09
9-Dec-09
5-Dec-09
1-Dec-09
27-Nov-09
300
31-Aug-10
The total quantity traded in Copper contracts was 8.383 lakh tonnes valued at Rs.
27889.390 crore.
40
iv) Silver
The ready price of Silver, which was quoted at Rs. 28002.00 per kg on 27.11.2009
declined to Rs. 26837.55 on 31.03.2010, showing a fall of 4.16%. In the futures section, the price
which was quoted at Rs. 28945.00 per Kg (March 2010 contract) on 27.11.2009 declined to
Rs.26956.00 per Kg (May 2010 contract) on 31.03.2010 showing a fall of 6.87%.
Spot & Futures prices of Silver at ICEX
30000
Rs. p er K g
27500
25000
2-Mar-10
3-May-10
1-Jul-10
31-M ar-10
27-M ar-10
23-M ar-10
19-M ar-10
15-M ar-10
7-M ar-10
11-M ar-10
3-M ar-10
27-Feb-10
23-Feb-10
19-Feb-10
15-Feb-10
7-Feb-10
11-Feb-10
3-Feb-10
30-J an-10
26-J an-10
22-J an-10
18-J an-10
14-J an-10
6-J an-10
SPOT
10-J an-10
2-J an-10
29-D ec -09
25-D ec -09
21-D ec -09
17-D ec -09
9-D ec -09
13-D ec -09
5-D ec -09
1-D ec -09
27-N ov -09
22500
1-Sep-10
The total quantity traded in all contracts of silver was 0.0668 Lakh tonnes valued at Rs.
17964.244 crore.
V) NATIONAL BOARD OF TRADE (NBOT), INDORE
The NBOT, Indore accounted for 0.78% of the total value of trade during the year 200910. In actual terms the total value of trade in NBOT, Indore was Rs. 60,449.52 crore. During the
year, Soy bean, Soy oil and Mustardseed commodities were traded at NBOT, Indore. Of these Soy
bean accounted for 99% of the total value of trade.
Total volume and value of trade at NBOT, Indore April 2009
to March 2010
Commodities
Total
Total Value
% share to
Volume in
in Rs.Crore
the total
MT
value
SOY OIL
127.63
59847.06
99.00
OTHERS
Total
2.64
602.46
1.00
130.27
60449.520
100.00
41
Total Value and Percentage at NBOT,Indore.
April 09 to March 10
Others
1.00%
Soy oil
99.00%
Soy oil
Others
NBOT
(i) Soy oil :The ready price of Soy oil at NBOT, Indore which was quoted at Rs.449.30 per 10 Kg
rose to Rs. 451.00on 31.3.2010 registering a rise of 0.38 % over the year.
In the futures section, trading in 14 contracts were permitted/ traded at NBOT. The price
of April 2009 contract, which was quoted at Rs.447.10 per 10 Kg on 31.3.2009 rose to Rs.447.80
on 31.3.2010 (April 2010 Contact) registering a rise of 0.16% over the year.
The graph indicating ready and future prices of Soy oil at NBOT, Indore is given below.
Spot and future prices of Soy oil at NMCE,Ahm edabad.
530.00
Rs.p er 10 Kg
510.00
490.00
470.00
450.00
430.00
410.00
30-Mar-10
2-Mar-10
16-Mar-10
2-Feb-10
16-Feb-10
5-Jan-10
19-Jan-10
8-Dec-09
22-Dec-09
24-Nov-09
27-O c t-09
10-Nov-09
13-O c t-09
29-Sep-09
1-Sep-09
15-Sep-09
4-Aug-09
18-Aug-09
7-Jul-09
21-Jul-09
9-Jun-09
23-Jun-09
26-May-09
28-Apr-09
12-May-09
14-Apr-09
31-Mar-09
390.00
Date
Spot
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Sep-09
Oct-09
Nov-09
The total quantity traded at NBOT, Indore during the period 127.63 Lakh tones Value at
Rs. 59847.06 Crore. The net open position at the Exchange at the end of March 2010 was 16550
MT.
42
CHAPTER-IV
ACTION AGAINST ILLEGAL FORWARD TRADING
4. Rule 13 of the Forward Contracts (Regulation) Rules, 1954 states as under
“The Commission shall communicate information in respect of the commission of any
offence under the Act to the concerned police authorities and assist such authorities in
scrutinizing documents referred to by them and in rendering such expert advice as may be
required by them”.
4.1
In pursuance of the provisions of Rule 13 as cited above, the Commission keeps close
surveillance on the activities in illegal forward markets and communicates the intelligence
thereon, to the concerned police authorities for their verification and appropriate enforcement
action. The Commission or its officers are not empowered to conduct search, seizure and
prosecution in respect of the various offences committed under the Act. These powers are vested
with the police authorities in the State/Union Territories. The officers of the Enforcement division
of the Commission assist the police authorities, wherever possible, in organizing and conducting
the raids. Further more, the division also assists the police authorities in scrutinizing the
documents seized by them in the course of their raids against persons conducting illegal forward
trading. Comprehensive scrutiny reports are prepared in the Division, on the basis of the evidence
contained in the documents seized and are then sent to the police authorities for further necessary
action. Apart from carrying out these tasks, the officers of the Enforcement Division also tender
evidence in the different courts of law as “Expert Witnesses”, as and when summoned.
4.2
Though the prohibition on futures trading under Section 17 of the Forward Contracts
(Regulation) Act, 1952 has been revoked completely, the need of enforcement action would
continue, as long as various other forms of illegal forward trading, like “Option” in goods, (which
is totally prohibited under the Act), and “dabba” trading are reportedly prevalent in various parts
of the country.
4.3
The main centers which were reported to have tradition of illegal forward trading in
various states are Ahamedabad, Bhabhar, Dhoraji, Jamnagar, Junagadh, Surendranagar,
Rajkot, Morbi, Gondal, Bhuj, etc. in Gujarat; Gwalior, Indore, Ujjain, Bhopal in Madhya
Pradesh; Mumbai, Kolhapur, Akola, Khamgaon, Nagpur, Amravati, in Maharashtra;
Bikaner, Shriganganagar, Hanumangarh, Churu, Jaipur, Jodhpur etc. in Rajasthan; Agra,
Kanpur, Meerut, Muzaffarnagar, Gaziabad, Bareilly in Uttar Pradesh; Adampur, Sirsa,
Hisar, Nahor, Rohtak in Haryana and Delhi in the state of Delhi. The availability of
regulated trading platform for futures trading in number of commodities at different
centers helped in reducing the need or incentive for illegal forward trading to a large
extent.
4.4
During the period between 01.04.2009 to 31.03.2010, the following enforcement actions
were initiated under Rule 13 of the FCR (Rules) 1954;
S.
No.
1
2
Activities
Enquiry
Inspection
Books
Accounts
Surprise
Details
&
of
and
Enquiry and Inspection of 9 members was undertaken.
Surprise check of One member and two regional
43
S.
No.
Activities
check of the
Members/Exc
hange:
3
4.
Details
exchanges were undertaken.
Refereed
to
other agencies
under Rule 13
of
the
Forward
Contracts
(Regulation)
Rules,
1954
and
from
other
agencies/
Police
Authorities.
Investigations
•
Referred one matter to EOW, Delhi, two matters
to Commission of
Police
City
Police,
Chennai and one matter to Commission of
Police, Pune,
•
One matter referred to Director General of Police
, Chhattisgarh and one matter to Director General
of Police , Rajasthan
•
DGP Gujarat was informed of Dabba Trading at
Junagad.
•
A matter was referred from Deesa Police for
scrutiny of documents and
computers were
seized from them for violations under FCRA,
1952. The final report has been forwarded to
Deesa Police.
•
On the basis of FIR registered by Delhi Police,
investigation was done by the enforcement
division in the matter of M/S. Abhipara
Commodity Consultants Pvt. Ltd. and M/s. Pritam
Vinay Commodity. The reports in the matter were
sent to the exchanges for further necessary action.
Membership of M/s. Pritam Vinay Commodity has
been terminated by NCDEX & MCX.
•
Investigation was undertaken in respect of M/s.
Jaypee Commodities on the basis of data (Digital
& Hard Copy) received from IT Department.
•
Investigation was done in respect of M/s. Insight
Commodity and Futures Pvt. Ltd. The exchanges
were directed to make suitable amendments in the
relevant circulars / regulations/ rules requiring the
members to follow appropriate risk management
system.
44
CHAPTER V
ADMINISTRATION AND BUDGET
The Commission comprises of 3 members including the Chairman Shri B.C. Khatua, IAS
and two members viz. Shri. Rajeev Kumar Agarwal, IRS and Shri. D. S. Kolamkar, IES.
5.1 The functioning of the Commission is done through five divisions, as given in Chapter I.
5.1.1. The group-wise composition of sanctioned strength of the commission is given in Table-1
at page 47.
5.1.2. The Officers and staff belonging to S.C., S.T, Ex-servicemen, OBC, and Physically
Handicapped categories in the Commission is at Table 2 on page 48.
5.1.3. There is one visually handicapped person and one orthopaedically handicapped person in
this office. There are neither separate budgetary provisions made for the benefit of persons with
the disability nor any special scheme for the benefit of such persons in this office. A statement
giving the details of persons with disability in the different groups viz, ‘A’,’B’,’C’,’D’, is given at
Table 2 on page 48.
5.1.4. A committee for hearing grievances of women regarding sexual harassment at work place
has been constituted in this office.
5.2
Budget
The Budget Estimates of the Commission for the last four years and actual expenditure
incurred there against are given below:PLAN– BUDGET ESTIMATES FOR THE LAST FIVE YEARS.
Year
2005-06
2006-07
2007-08
2008-09
2009-10
5.3
Budget grant (Revised)
(Rs. Lakhs)
PLAN
NON-PLAN
120.00
293.00
200.00
352.00
1000.00
387.00
400.00
467.00
805.00
537.30
Actual Expenditure
(Rs. Lakhs)
PLAN
NON-PLAN
93.28
226.79
156.29
278.58
241.89
284.82
331.51
406.37
719.31
512.71
Implementation of Official Language policy of the Government.
In order to ensure effective implementation of Official Language Policy, Official
Language Act 1963 and Official Language Rules 1976, the Commission has taken a number of
initiatives. Quarterly meetings of Official Language Implementation Committee is held under the
Chairmanship of the Chairman on regular intervals and progress made in different areas of
operation is reviewed in the presence of senior officers of the Commission. The Commission is
poised to achieve the target fixed in the Annual Programme. Full compliance of section 3(3) of
Official Language Act 1963 was ensured of Rule 5 and 7 of Official Language Rules 1976 was
complied with and proper check points have been devised to monitor the progress of Hindi. Four
Hindi workshops were organized during the year and officials were briefed about statutory
provisions with respect to Official Language.
45
During Hindi fortnight celebrations, which was observed from 2 Sept. to 16 Sept. 2009
various competitions were organized for the staff and they were honoured with cash prize and
certificates. Proper representations of the Commission were ensured in various forums viz Hindi
Advisory Committee and Town Official Language Implementation Committee etc.
With the help of I.T. section of the Commission unicode/Hindi Software has been
provided to almost all the Officers and staff through intranet.
46
TABLE I
Statement showing the number of posts sanctioned, posts filled and posts lying vacant in FMC as
on 31.03.2010
S.
Name of Post Group (Gazetted/Non-Gazetted)
Number of Post(s)
No. and Pay Band + Grade Pay
Sanctioned In position
Vacant
GROUP ‘A’
Chairman
1
1
1.
Member
2
2
2.
1
Director IES(Economic Adviser)-FMC
1
3.
1
Joint Director IES(Director)-FMC
1
Director (Ex-cadre)
10
2
4.
-Secretary
5.
1
A. Deputy Director (Gr.III IES)
5
6.
B. Deputy Director(Ex-cadre)
13
8
14
(A)Assistant
Director
(Ex
cadre)
14
7.
1
(B) Assistant Director(Grade of IES)
5
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
8
4
5
4
Total Group ‘A’
GROUP ‘B’
Hindi Officer
Assistant Secretary
Senior P.S.
Private Secretary
Economic Officer
Total ‘B’ Gazzetted
GROUP ‘B” Non-gazetted Superintendent
Total ‘B’ Non-gazetted
52
31
21
1
1
1
2
13
18
1
1
1
1
1
2
5
10
1
1
08
8
0
GROUP ‘C’
Deputy Superintendent
Stenographer Grade I
Translator (Mudia)
Translator (Gujarati)
Jr.Hindi Translator
Junior Research Assistant
Stenographer Gr.II
Assistant
Stenographer Gr.III
Upper Division Clerk
Lower Division Clerk
Hindi Typist
Staff Car Driver
Computor
Total of Group ‘C’
1
2
1
1
2
12
2
2
5
7
6
1
1
4
47
1
1
-9
2
2
7
6
1
1
30
2
1
2
3
5
1
3
1
7
1
2
15
133
1
3
1
2
2
9
81
Gestetner Operator
Daftary
Sr. Peon
Peon
Hamal
Safaiwala
Total Group ‘D’
GRAND TOTAL:
-1
3
17
5
1
6
52
47
TABLE 2
STATEMENT SHOWING THE REPRESENTATION OF SC/ST/OBC/PH/EXM OF
OFFICERS
(AS ON 31/03/2010)
Name of Ministry/Department : Ministry of Consumer Affairs, Food & Public Distribution,
Deptt. of Consumer Affairs,
Office/Organisation : Forward Markets Commission, Mumbai.
Group of Sanctioned Total
Number of employees of Col.3
EXM GEN
post
post
number of
belonging to
employees
PH
in position
SC ST OBC VH HH OH
1
2.
3
4
5
6
7
8
9
10
11
Group A
(Gazetted)
Group B
Gazetted
NonGazetted
Group C
Group D
TOTAL
53
32
3
-
2
1
-
-
-
26
17
9
1
-
4
-
-
-
-
4
1
1
-
-
-
-
-
-
-
1
47
15
30
9
1
2
4
1
1
1
-
1
-
1
-
18
3
133
81
4
2
**
10
3
11
3
-
1
1
52
VH –Visually Handicapped
HH – Hearing Handicapped
OH – Orthopedically Handicapped
EXM – Ex-serviceman
**one Group D employee is SC as well as VH.
48
Annexure I
LIST OF COMMODITIES NOTIFIED UNDER SECTION 15 OF THE F.C.(R.) ACT 1952.
Sl.
No.
COMMODITY
7
8
9
Fibres and Manufactures
Art Silk Yarn
Cotton Cloth
Cotton pods
Cotton Yarn
Indian Cotton (Full pressed, half pressed or
loose)
Jute goods (Hessian and Sackings and cloth
and /or bags, twines and/or yarns mfd by
any of the mills and/or any other
manufacturers of whatever nature made
from jute)
Kapas
Raw Jute (including Mesta)
Staple Fibre Yarn
10
11
12
13
14
15
16
17
Arhar Chuni
Bajra
Barley
Gram
Gram Dal
Guar
Jowar
Kulthi
18
19
20
21
22
23
24
25
26
27
28
Lakh (Khesari)
Maize
Masur
Moth
Mung
Mung Chuni
Mung dal
Peas
Ragi
Rice or Paddy
Small Millets (Kodan Kulti, Kodra, Korra,
Vargu, Sawan, Rala, Kakun, Samai, Vari &
Banti)
Tur Dal (Arhar Dal)
Tur(Arhar)
Urad (Mash)
Urad dal
Wheat
Metals
Copper, Zinc, Lead or Tin
Gold
Silver
Silver Coins
1
2
3
4
5
6
Foodgrains and Pulses
29
30
31
32
33
34
35
36
37
Sl.No.
COMMODITY
38
39
40
41
42
Oilseeds and Oils
Celeryseed
Copra Oil/Coconut Oil
Copra Oilcake/Coconut Oilcake
Copra/Coconut
Cottonseed
43
Cottonseed Oil
44
45
46
47
48
49
50
51
52
53
54
55
Cottonseed Oilcake
CPO Refined
Crude Palm Oil
Crude Palm Olive
Groundnut
Groundnut Oil
Groundnut Oilcake
Linseed
Linseed oil
Linseed Oilcake
Rapeseed Oil/Mustard Oil
Rapeseed
Oilcake/
Mustardseed
Oilcake
Rapeseed/Mustardseed
RBD Palmolein
Rice Bran
Rice Bran Oil
Rice Bran Oilcake
Safflower
Safflower Oil
Safflower Oilcake
Sesamum (Til or Jiljilli)
Sesamum Oil
Sesamum Oilcake
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Soy meal
Soy Oil
Soybean
Sunflower Oil
Sunflower Oilcake
Sunflower Seed
Spices
Aniseed
Betelnuts
Cardamom
49
Sl.
No.
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
COMMODITY
Sl.No.
Chillies
93
Cinnamon
94
Cloves
95
Coriander seed
96
Ginger
97
Methi
98
Nutmegs
99
Pepper
100
Turmeric
101
102
Others
Camphor
103
Castorseed
104
Chara or Berseem (including charaseed or 105
berseemseed)
Crude Oil
106
Gram Husk (Gram Chilka)
107
Gur
108
Khandsari Sugar
109
Polymer
COMMODITY
Potato
Rubber
Seedlac
Shellac
Sugar
Furnace Oil
Ethanol
Cooking Coal
Electricity
Natural gas
Onion
Thermal Coal
Carbon credits
Methanol
Melted Menthol Flakes
Mentha Oil
Menthol Crystals
50
Annexure II
List of the Exchanges
S.No.
A.
Name of the Exchanges
National Multi Commodity Exchanges
1
National Multi Commodity Exchange of India Ltd., Ahmedabad (NMCE)
2
Multi Commodity Exchange of India Ltd., Mumbai (MCX)
3
National Commodity & Derivatives Exchange Ltd., Mumbai (NCDEX)
4
Indian Commodity Exchange Ltd., Mumbai (ICEX)
B.
5
Commodity Specific Regional Exchanges
Ahmedabad Commodity Exchange Ltd, Ahmedabad
6
7
8
9
10
11
12
13
14
15
16
17
Bikaner Commodity Exchange Ltd, Bikaner
Bombay Commodity Exchange Ltd, Mumbai
Central India Commercial Exchange Ltd, Gwalior
Cotton Association of India, Mumbai
The Chember of Commerce, Hapur
East India Jute & Hessian Exchange Ltd., Kolkata
First Commodity Exchange of India Ltd, Kochi
Haryana Commodities Ltd., Sirsa
India Pepper & Spice Trade Association, Kochi
The Meerut Agro Commodities Exchange Company Ltd, Meerut
National Board of Trade, Indore
Rajkot Commodity Exchange Ltd., Rajkot
18
19
20
21
Spices & Oilseeds Exchange Ltd, Sangli
Surendranagar Cotton Oil & Oilseeds Association Ltd, Surendranagar
The Rajdhani Oil & Oilseeds Exchange Ltd, Delhi
Vijai Beopar Chamber Ltd., Muzaffarnagar
51
Annexure III
(A)
Trading Permissions granted to National Exchanges during the year.
1. MCX, Mumbai
S.No.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
Name
of
Commodities
Almond (New)
the Name of the contracts
permitted for trading
September 2009 to December
2009
Mild Steel Ingots/ Billets
May 2009 to Sept 2009
Mustard Seed
July 2009 to December 2009
Imported Thermal Coal
May 2009 to December 2009
Wheat
June ’09 to December 2009
Yellow Peas
July ’09 to Dec ‘09
Short Term CER (NEW)
July to Dec ‘09
Red Arecanut
Oct.’09 to Dec.’09
Mild Steel Ingot Billets
Oct.’09 to Dec.’09
2010
Carbon Credit CER
Feb, May, Aug & Nov. 2010
Copper
Feb, April, June, Aug., &
Nov.2010
Crude Oil
January to December 2101
Gold
Feb., April, June, Aug.,
Oct.,& Dec 2010
Silver
March, May, July, Sept. &
Dec. 2010
Silver Mini
March, May, July, Sept. &
Dec. 2010
Kapas
April 2010
Almond
January 2010 to December
2010
Aluiuminium
- doCardamom
- doChana
- doCrude Palm Oil
- doHeating Oil
- doKapas Khali
- doLead
- doMild Steel Ingot/ Billets
- doMentha Oil
- doNickel
- doPlatinum
- doRefined Soy Oil
- doZink
- doGold Guinea
- doGold Mini
- doWheat
- doATF
January 2010 to June 2010
Castor Seed (RAJ)
- doCoriander
- doElectricity Monthly
- do-
Date
of
permission
15.04.09
20.04.2009
29.04.2009
23.04.2009
20.05.2009
29.05.2009
15.06.2009
22.07.2009
24.07.2009
08.05.2009
- do- do- do- do- do24.08.2009
28.08.2009
- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do-
52
S.No.
38.
39.
40.
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
Name
of
the
Commodities
Electricity Weekly
Gasoline
Guar Seed
Rubber
Gold HNI
Silver HNI
Tin
Turmeric
Barley
Natural Gas
Imported Thermal Coal
Maize Feed/ Industrial
Grade
Guar Gum
Name of the contracts Date
of
permitted for trading
permission
- do- do- do- do- do- do- do- do- do- do- do- do- do- do- do- doOct 2009 and Dec. 2009
24.09.2009
Jan. 2010 to Dec. 2010
30.09.2009
January 2010 ton June 2010
-doNov. 2009 & December 2009
08.10.2009
November 2009 to January
2010
Black Pepper
November 2009 & December
2009
Kapasia Khali
Jan. 2010 to Dec. 2010
Soya Bean
- doPotato (Agra)
March 2010 to May 2010
Menthol Flakes (NEW)
Feb. 2010 to July 2010
Barley
April 2010 to June 2010
Maize Feed/ Ind. Grade
February 2010 to June 2010
ATF
July to December 2010
Coriander
July to December 2010
Gasoline
July to December 2010
Guar seed
July to December 2010
Imported Thermal coal
July to December 2010
Maize – Feed/ Industrial July to December 2010
grade
Potato (Agra)
June to October 2010
Rubber
July to December 2010
Tin
July to December 2010
Melted Menthol Flakes
August to December 2010
Turmeric
July to December 2010
2.
09.10.2009
20.10.2009
03.11.2009
28.10.2009
18.12.2009
07.01.2010
06.01.2010
- do 24.02.2010
- do- do- do- do- do- do- do- do- do- do-
NCDEX, Mumbai.
S.No.
Name of the Commodities
1.
2.
3.
4.
5.
6.
Sugar - S
Sugar - M
Wheat
Sugar-S
Sugar-M
7.
Furnace Oil
Name of the contracts permitted for Date
of
trading
permission
October 2009 to June 2010
08.05.2009
October 2009 to June 2010
08.05.2009
June ’09 to December 2009
20.05.2009
October 2009 to June 2009
08.05.2009
October 2009 to June 2009
08.05.2009
05.06.2009
July ’09, Sept.’09 and Nov.’09
- doJuly ’09 to December ‘09
8.
Groundnut in shell
July ’09 to December ‘09
- do-
9.
Groundnut expeller oil
July ’09 to December ‘09
- do-
Cashew
53
S.No.
Name of the Commodities
10.
Polypropylene,
11.
Liner
Low
Polyethylene
12.
Polyvinyl Chloride
13.
Name of the contracts permitted for Date
of
trading
permission
- doJuly ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.
‘09
- doDensity July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.
‘09
- do-
Masoor
July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.
‘09
Aug. ’09, Oct.’09 & Dec. ‘09
14.
Mustard Seed Oil
July ’09 to December ‘09
- do-
15.
Mustard Seed Oil Cake
July ’09 to December ‘09
- do-
16.
RBD Palmolein
July ’09 to December ‘09
- do-
17.
Yellow Peas
Aug. ’09, Oct.’09 & Dec. ‘09
- do-
18.
Soya bean Meal : Domestic
July ’09 to December ‘09
- do-
19.
Soya bean Meal : Export
July ’09 to December ‘09
- do-
20.
Sesame seed
- do-
- do-
21.
July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.
‘09
Medium Staple Cotton – July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.
‘09
Abohar
22.
Cotton very long (31 mm)
- do-
23.
Aluminium
July ’09, Aug.’09 Oct.’09, Nov.’09 &
Dec.’09
July ’09 to December ‘09
24.
Nickel
July ’09 to December ‘09
- do-
25.
26.
Zinc
Groundnut in Shell Bikaner
27.
Gold International
28.
Silver International
29.
Cottonseed Oil Cake
30.
31.
Pepper
Red Chilli
32.
33.
34.
35.
36.
37.
38.
39.
40.
Chana
Gur
Jeera
Rape/Mustard Seed
Steel Long
Turmeric
Barley
Indian 28.5 mm Cotton
Dhaniya/ Coriander
- doJuly’09, Aug.’o9 & Oct.’09 to December ‘09
Aug. 2009, Nov. 2009 &
01.07.2009
December 2009
2010
Jan ’10, March ’10, May ’10 July ’10, Sept 08.07.2009
’10 & Nov.’10
Nov.’09, Feb ’10, April ’10, June ’10
- doAug.’10 & Nov.’10
Jan’10 to March ’10;
20.07.2009
April 2010 to Sept.’10 & Dec.’10
Jan 2010 to Dec. 2010
- doFeb.’10 to April 2010-04-01 June 2010 to
- doDecember 2010
January 2010 to December 2010
08.07.2009
- do- do- do- do- do- do- do- do- do- doJanuary 2010 to June 2010
- do- do- do- do- do-
- do-
- do-
54
S.No.
Name of the Commodities
41
42
43
44
45
46
Potato
Rubber
Light sweet crude oil
Guar Seed
Guar Gum
47
Refined Soy Oil
Name of the contracts permitted for Date
of
trading
permission
- do- do- do- do- do- do04.08.2009
January 2010 to December 2010
- doJanuary 2010 to December 2010
- doJanuary 2010 to December 2010
- doJanuary 2010 to December 2010
48
Castor seed
January 2010 to December 2010
- do-
49
Copper Cathode
- do-
50
Gold 1 Kg
51
Gold 100 Grames
February 2010, April 2010, June 2010,
August 2010 & November 2010
January 2010 to December 2010
- do-
- do-
52
Silver 30 Kgs
- do-
- do-
53
Silver 5 Kgs
Wheat
Yellow / Red Maize
Platinum (NEW)
- do-
- do-
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
Soy Bean
January 2010 to December 2010
January 2010 to June 2010
December 2009, March 2010, June 2010,
Sept 2010 & Dec. 2010
January 2010 to June 2010
January 2010 to December 2010
Oil February 2010 to June 2010
Mentha Oil
Natural Gas (NEW)
Expeller
Mustard
(Kachhi Ghani)
Barley
Yellow Soya Bean Meal :
Export
RBD Palmolein
Aluminum Ingot
Nickel Cathode
Zinc Ingot
Brent Crude Oil
Thermal Coal
Certified
Emission
Reduction (CER)
Gasoline (NEW)
Heating Oil (NEW)
Almond (NEW)
Led (NEW)
- do-
25.08.2009
07.10.2009
06.11.2009
12.11.2009
04.12.2009
04.01.2010
July 2010 to Dec. 2010
February 2010 to June 2010
19.01.2010
22.01.2010
- do- do- do- do- do- doMarch 2010 and June 2010
- do- do- do- do- do- do- do-
73
74
Crude Palm Oil
April 2010 May 2010 & June 2010
- doMarch 2010 to Dec. 2010
March 2010, April 2010, May 2010 & June
2010
March2010 to August 2010
Coriander / Dhania
July 2010 to December 2010
03.03.2010
03.03.2010
75
Maize – Yellow/Red
July 2010 to December 2010
- do-
76
Mentha Oil
July 2010 to December 2010
- do-
July 2010, August 2010 &
- do-
77
78
Potato
September 2010
Rubber
July 2010 to December 2010
01.02.2010
- do09.02.2010
16.02.2010
- do-
55
S.No.
Name of the Commodities
Name of the contracts permitted for Date
of
trading
permission
- doJuly 2010, August 2010, October 2010,
Indian 28.5 mm Cotton
November 2010 & December 2010
79
80
19 July 2010, 19 August 2010,
- do-
20 September 2010, 19 October 2010,
81
Light Sweet Crude Oil
18 November 2010 & 17 December 2010
Kacchi Ghani Mustard Oil
July 2010 to December 2010
- do-
3. NMCE, Ahmedabad
S.No.
Name of the Commodities
Name of the contracts permitted for trading
Date
of
permission
1.
Kalyan Kapas V-797
December 2009
02.04.2009
2.
Aluminium
July 2009 to September 2009
13.04.2009
3.
Nickel
July 2009 to September 2009
- do-
4.
Silver
July ’09 & Sept.’09
- do-
5.
Copper
July ’09 & Sept.’09
- do-
6.
Copper (Revised)
June’09, Aug.’09 and Nov.’09
13.05.2009
7.
Wheat
June ’09 to December 2009
20.05.2009
8.
Aluminium
01.06.2009
9.
Nickel
October ‘09, November ‘09 & December ‘09
October ‘09, November ‘09 & December ‘09
10.
December ‘09
- do- do-
11.
Silver
Castor Seed
12.
Chana
13.
Coffee Rep Bulk
- do-
- do-
14.
Copra
- do-
- do-
15.
Guar Gum
- do-
- do-
16.
Guar Seed
- do-
- do-
17.
Isabgul Seed
- do-
- do-
18.
Kilo Gold
- do-
- do-
19.
Lead
- do-
- do-
20.
Menthol Crystal
- do-
- do-
21.
Pepper
- do-
- do-
22.
Rape/ Mustard Seed
- do-
- do-
23.
Sacking
- do-
- do-
24.
Soyoil
- do-
- do-
25.
Turmeric
- do-
- do-
January 2010 to June 2010
- do-
January 2010 to December 20
- do-
15.06.2009
- do-
2010
26.
Aluminium
56
S.No.
Name of the Commodities
Name of the contracts permitted for trading
Date
of
permission
- do-
27.
Nickel
- do-
28.
Rubber
- do-
- do-
29.
Zink
- do-
- do-
30.
Cardamom
- do-
- do-
31.
Raw Jute
- do-
- do-
32..
Kalyan Kapas
- do-
- do-
33.
Gold (Vol. in kgs)
- do-
- do-
34.
Silver (Vol. in kgs)
- do-
- do-
35.
Copper
January 2010 to June 2010
25.06.2009
36.
Gold Guinea
October 2009 to March 2010
29.09.2009
Gold Guinea
April 2010 to December 2010
19.01.2010
Rubber
Aluminium 5 Ton
Nickel
Zinc
Raw Jute
Silver
Copper
Cardamom
Gold
July 2010 to December 2010
- do- do- do- do-
21.01.2010
- do- do- do- do- do- do- do- do-
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
July 2010, Sept. 2010 and Dec. 2010
August 2010 and November 2010
July 2010 to December 2010
July 2010 to December 2010
ICEX, New Delhi
S.No.
Name of the Commodities
Name of the contracts permitted for trading
Date
of
permission
1.
Guar Seed
February, 2010 to December, 2010.
2.
Mustard Seed/Rape Seed
April, 2010 to December, 2010.
3.
Refined Soy Oil
February, 2010 to December, 2010.
4.
Turmeric
April, 2010; to December, 2010.
5.
Soy Bean
February, 2010 to December, 2010.
6.
Gold
7.
Gold 100 Gms
April, 2010; June, 2010; August, 2010;
October, 2010; and December, 2010.
February, 2010; to December, 2010.
8.
Silver
9.
Silver 5 Kg
10.
Crude Oil
May 2010; July 2010; September 2010; and
December, 2010.
May 2010; July 2010; September 2010; and
December, 2010.
February 2010 to December, 2010.
11.
Natural Gas
January, 2010; to December, 2010.
12.
Copper Cathode
April, 2010; June, 2010; August, 2010; and
09.10.2009
57
13.
November, 2010.
February, 2010 to December, 2010.
Lead
(B) Trading Permissions granted to the Regional Exchanges
S.No.
1.
2.
3.
4.
5.
6.
7.
Name of the
Name of the
Exchange
commodities
BCE
Ltd., Guar seed
Bikaner
Guar seed
Guar seed
Guar seed
Guar seed
Guar seed
ROOE, Delhi
Mustard seed
Mustard seed
Mustard seed
HCL, Sirsa
Mustard seed
Mustard seed
Mustard seed
Mustard seed
Cotton seed oil
cake
Cotton seed oil
cake
Cotton seed oil
cake
ACE
Ltd., Castor seed
Ahmedabad
Castor seed
Castor seed
IPSTA, Kochi
Pepper MG 1 and
550 GL
NBOT, Indore
COC, Hapur
Name of the deliveries
July 2009
November 2009
January 2010
March 2010
September 2009
May 2010
August 2009
November 2009
February 2010
July 2009
September 2009
November 2009 and January 2010
March 2010 and May 2010
July 2009
Date of
permission
13.04.09
07.08.09
12.10.09
25.01.10
19.06.09
15.02.10
13.04.09
15.07.09
12.10.09
20.04.09
15.06.09
31.08.09
30.12.09
21.04.09
September 2009
19.06.09
March 2010 and May 2010
30.12.09
October 2009 and December 2009
05.05.09
February 2010 and April 2010
June 2010 and August 2010
MG 1 = December 2009, January
2010 and February 2010
550 GL = June 2009, July 2009
and August 2009
Pepper 550 -GL
September 2009, October 2009 and
November 2009
Pepper MG 1
March 2010, April 2010 and May
2010
Pepper MG-1
June 2010, July 2010 and August
2010
Pepper MG-1
September 2010, October 2010, and
November 2010
Soya oil and August 2009 to February 2010
Soya bean
Rape/Mustard
January 2010, February 2010 and
seed
May 2010
Soya oil
March 2010
Soya oil, Soya April 2010, May 2010 and June
bean and Soya 2010
meal
Mustard
seed/ September 2009, November 2009
19.08.09
04.01.10
05.05.09
02.06.09
30.07.09
04.11.09
05.02.10
01.06.09
03.11.09
21.01.10
26.02.10
08.06.09
58
Rapeseed
Mustard seed/
Rapeseed
Gur
Gur
Gur
8.
EIJHE, Kolkata
9.
VBC,
Muzaffarnagar
10.
Gur
TSD – Jute goods
TSD-Jute goods
TSD – Jute goods
TSD – Jute goods
Raw jute
Raw jute
Raw Jute
Gur
Gur
Gur
MACE co. Ltd., Gur
Meerut
and January 2010
March 2010, May 2010 and July
2010
July 2009.
Commission permitted the above
delivery with modification in
Maximum/Minimum price limit
(from 15% to 20% and special
margin limit (from 10% in 1st slab
and 12% in 2nd slab to 12% in 1st
slab and 16% in 2nd slab
respectively.
December 2009
Commission permitted the said
delivery with modification in
Daily/Weekly price fluctuation
limit ( from Rs. 40/- to Rs.60/per qntl.)
March 2010
Commission permitted this Gur
delivery with the changes made by
the Exchange in i) Daily price
fluctuation limit from Rs.60/- per
qntl.to Rs.40/- per qntl., ii)
Maximum/ Minimum price limit
from 20% to 10% and iii) special
margin limit from 12% and 16%
(two slabs) to 8% (only one slab).
May 2010
July – September 2009
October – December 2009
January – March 2010
April – June 2010
September 2009
December 2009
February 2010 and March 2010
December 2009
Commission permitted the said
delivery with modifications in i)
Daily/ Weekly price fluctuation
limit (from Rs.40/- to Rs.60/- per
qntl.), Maximum/Minimum price
limit (from 15% to 20%) and
special margin limit (from 8% in 1st
slab and 12% in 2nd slab to 12% in
1st slab and 16% in 2nd slab
respectively).
March 2010
May 2010
December 2009
Commission permitted the said
delivery with modification in
Daily/Weekly price fluctuation
limit (from Rs.50/- to Rs.60/- per
qntl.)
17.11.09
09.06.09
19.06.09
12.11.09
03.02.10
16.06.09
21.07.09
21.10.09
18.01.10
03.08.09
21.10.09
21.01.10
19.06.09
12.11.09
21.01.10
19.06.09
59
11.
12.
CICE
Gwalior
FCEI, Kochi
Gur
Gur
Gur
Ltd., Mustard seed
Mustard seed
Coconut oil
Copra
13.
14.
15.
16.
Copra
Coconut oil
Copra
Coconut oil
BOOE, Bhatinda Gur
Gur
Gur
RCEL, Rajkot
Castor seed
Castor seed
BCE
Ltd., Castor seed
Mumbai
SCOOA
Ltd., Kapas
Surendranagar
March 2010
May 2010
July 2010
November 2009
May 2010
December 2009, January 2010,
February 2010 and March 2010
December 2009, January 2010,
February 2010 and March 2010
and April 2010, May 2010, June 2010
and July 2010
and August 2010, September 2010,
October 2010 and November 2010
December 2009
March 2010
May 2010
March 2010
June 2010
February 2010, April 2010, June
2010, August 2010, October 2010
and December 2010
May 2010
26.10.09
25.01.10
31.03.10
19.06.09
16.09.09
09.07.09
18.09.09
12.11.09
15.03.10
15.07.09
04.11.09
01.02.10
08.09.09
01.02.10
16.09.09
11.08.09
60
Annexure IV
Guidelines for allowing position limits to the NAFED:
(a)
To begin with, the aggregate position limits for NAFED would be restricted to the existing
member level limits or 15% of the market wide open interest whichever is higher for each
commodity. The existing client level limits would be applicable to the branches of
NAFED.
(b)
The NAFED and its branches can avail of separate hedge limits apart from the normal
limits. These limits would be subject to specific conditions stipulated by the Exchange for
effective monitoring of utilization of the sanctioned hedge limits and subject to
submission of requisite documents, viz, branch application letter seeking exemptions,
approval of MD(or Senior official of NAFED authorized by MD) , identification of the
commodity and purpose of taking up the positions etc. No hedge exemptions would be
granted during near month period and the positions will be subjected to near month limit.
(c)
The Managing Director of the NAFED will authorize and allocate limits to each of its
branches/office for each commodity. Such specific authorization should be submitted at
the time of seeking approval for exemption from the Exchange,
(d)
The Exchange would monitor the position limits at NAFED level and at branch level on a
daily basis and any violation shall be dealt with as per the guidelines applicable for client
level OI violations and prescribed penalty shall be levied. The Exchange would put in
place proper mechanism to monitor such positions,
(e)
The NAFED shall register its branches as separate clients with members of the Exchange
with distinctive client code to represent different branches,
(f)
On observing any trading malpractice or undue influence on the market, exemptions in
limits would be forthwith withdrawn,
(g)
The decision of the Exchange/FMC will be binding on NAFED and its branches.
61
Annexure V-A
GUIDELINES FOR GRANT OF RECOGNITION TO NEW
NATIONAL COMMODITY EXCHANGE UNDER THE PROVISIONS OF THE
FORWARD CONTRACTS (REGULATION)
Dated 14th May 2008
Preamble
Forward trading in commodities is regulated under the provisions of the Forward
Contracts (Regulation) Act, 1952 (hereinafter referred as FCR Act). The Associations / companies
organizing such trading are required to obtain recognition from the Government of India under the
FCR Act. At present, there are 22 recognized Commodity Exchanges including 3 National Multi
Commodity Exchanges (NMCEs).
2.
The volumes of trades in the commodities derivative market has increased manifold after
setting up of electronic Exchanges with ‘national’ status.
3.
Grant of recognition to new National Commodity Exchanges was done within the
framework of Press Note issued on 8th March 2002. 3 National Exchanges came in to existence in
late 2003 through this process. The Commodity Futures Markets has grown substantially since
then. There is a renewed interest in establishing new National Commodity Exchanges.
Accordingly, the question of formulation of a framework governing establishment of National
Commodity Exchanges was under consideration of Government for some time past. The
Government hereby lays down the revised guidelines for making an application for setting up of a
nation-wide Multi-Commodity Exchange in future, as under.
Revised Guidelines
4.
A two stage process will be followed for granting recognition to a new Exchange.
First Stage
5.
In the first stage, applications for setting up of a Nation-wide Multi Commodity Exchange
may be submitted by reputed associations / companies / organizations or consortium of such
entities to the Government through the Forward Markets Commission (hereinafter referred to as
the Commission), the commodity futures market regulator. The Government, on being satisfied
that it would be in the interest of trade and also in the public interest to do so, may grant in-
62
principle approval for setting up of a National Multi Commodity Exchange. In-principle approval
may be granted to the applicant who fulfills the following criteria:
5.1.
The proposed Exchange, sponsored/promoted by Associations/ companies/organizations
or a consortium of such entities should be registered as a public limited company incorporated
under the Companies Act, 1956 with a minimum authorized equity capital of Rs. 100 crore.
5.2.
The proposed Exchange shall have a demutualised structure, i.e., the share holders of the
Exchange shall not have any trading interest either as a trading member or as a client at the
Exchange.
5.3.
While applying for in-principle approval, the proposed equity Shareholding pattern of the
Exchange should be as under –
a) One or more of the initial partners/members of the promoter consortium must be a
Government Company/ Companies, as defined in the Companies Act 1956,
contributing at least 26 % of the paid up equity capital of the proposed Exchange.
b) The Share holding of institutional investors as defined below shall not be less than
20% with a minimum of 10% from category (ii).
(i) Stock / Commodity Exchanges, Banks and public financial institutions;
(ii) Government Companies as defined in the Companies Act, 1956, Cooperative Societies as defined in the Societies Act, Federations
manufacturing or marketing agri-inputs or marketing agri-produce or
owning and operating warehouses.
c) No individual shall hold more than 1% of the paid up equity capital of the
Exchange and the total of such individual holdings shall not exceed 25% of the
paid up capital.
d)
Subject to the shareholding limits prescribed herein before, no single shareholder
either individually or together with persons acting in concert with it shall be
allowed to hold more than 40% of the paid up equity capital of the proposed
Exchange.
e) Investment in the initial paid up capital by shareholders shall be subject to a lockin period of three years from the date of recognition of the Exchange, except with
63
the prior approval of the Forward Markets Commission. However, in exceptional
cases the period can be relaxed by up to one year by the Forward Markets
Commission.
f) (i) Any investor having shareholding in excess of 26% has to bring it down to
26% or below within two years beginning with the 4th year from the date of
recognition of the Exchange.
(ii) After the expiry of the period as specified at (i), it will be obligatory on the
investors to align the shareholding pattern, as per the guidelines notified by the
Government from time to time.
5.4.
The Exchange shall ensure complete separation of ownership and management. It shall
have a Professional management headed by a Chief Executive Officer. The appointment, renewal
and removal of the CEO shall be done in the manner as prescribed by the Commission.
5.5.
The promoters of the proposed Exchange shall submit a formal agreement amongst
themselves on issues related to the setting up of the Exchange and written commitment for equity
investment from promoters/ investors, including institutional investors. The formal agreement
shall, inter alia, contain the extent of equity investment from each of the investors, equity holding
in the short and long term in the authorized and paid up capital of the Exchange, main place of
business and registered office, etc.
5.6.
Each of the promoters of the proposed Exchange must be a fit and proper person. The
criteria for ‘a fit and proper person’, shall be as at Annexure-I.
6. Submission of proposal
6.1.
The detailed proposal should be sent to the Chairman, Forward Markets Commission,
Government of India, Everest, 3rd Floor, 100, Marine Drive, Mumbai – 400 002, along
with:
a) a non-refundable processing fee of Rs.5,00,000/- (Rupees Five Lakh only) in the form of
crossed demand draft issued by any nationalized bank in favour of Forward Markets
Commission, payable at Mumbai. Applications without the processing fee shall not be
entertained by FMC.
b) Details of the present business of each of the promoters/ constituents;
64
c) Networth of each of the promoters / constituents.
d) Audited accounts of each of the promoters / constituents for the last 3 years;
e) Business plan for the proposed Exchange and schedule for operationalisation of the
Exchange from the date of in-principle approval.
f) Proposed capital expenditure and sources of funds;
g) Clear confirmation of the location of the registered office and main place of business of
the proposed Exchange;
h) Affidavit by the authorized signatory of each of the promoters of the Exchange affirming
that they don’t attract the disqualifications listed at Annexure-I.
6.2.
The proposal should be submitted in the form of a comprehensive Project Report giving,
inter-alia, justification for setting up a new exchange, details of the management structure,
investment plan, business plan, system of trading, clearing and settlement (including settlement
guarantee), customer protection, details of infrastructure for handling physical delivery including
the warehousing and assaying arrangements along with the strategy for implementation thereof.
However, FMC may seek other details, as it may deem appropriate.
7.
Government
may
grant
in-principle
approval
after
taking
into
account
the
recommendations of the Commission.
8. An applicant granted in-principle approval shall be required to submit to the FMC a bank
guarantee of Rs 50,00,000 (Rupees Fifty Lakh only) issued by a nationalized bank with a validity
period of 21 months and a further claim period of 3 months and drawn in favour of ‘Director,
Forward Markets Commission, Mumbai’, within fifteen days of grant of
in-principle approval
for setting up the Exchange.
Second Stage
9.
In the second stage, the applicant who has been granted in-principle approval will have
to comply with the following conditions within a period of one year from the date of grant of inprinciple approval. The Exchange shall:
(i)
bring paid up capital of at least Rs 100 crore as per the proposed equity capital
structure subject to the guidelines of para 5(2);
65
(ii)
set up facilities for online trading with national reach and an efficient real time
monitoring and surveillance system;
(iii)
provide for an efficient clearing and settlement system including establishment of
a Settlement Guarantee Fund;
(iv)
arrange for an efficient delivery mechanism through an adequate network of
accredited warehouses,
(v)
have an independent and professional management;
(vi)
provide for adequate infrastructure for dissemination of real time price and trade
information;
(vii)
provide for adequate infrastructure for research and development on commodities,
contracts and development of trade;
(viii)
submit draft rules, regulations and bye-laws for conduct of business for inprinciple approval of the Commission;
(ix)
plan for a network of well organized and capitalized brokerage houses as
members and other intermediaries. However, no membership subscription or
deposit of any nature shall be collected before grant of recognition to the
Exchange.
No shareholder shall be allowed to be a trading member of the
Exchange.
(x)
10.1
Provide for efficient and effective grievance redressal mechanism.
In case of failure to fulfill the above laid down conditions within the stipulated time, the
Government reserves the right to revoke the in principle approval so granted without assigning
further reasons. Extension beyond the stipulated period may be granted only in exceptional cases
on genuine grounds but not exceeding three months.
10.2
In the event of the applicant failing to establish the Exchange within the stipulated period
of time or extended period of time, as the case may be the bank guarantee shall be invoked and the
amount shall be forfeited.
66
11. The Government, on satisfactory fulfillment of the condition stipulated and after taking in to
account the recommendations of the Commission in this regard, may grant recognition to the
proposed Exchange.
12.
The Government / FMC reserves the right to prescribe any other condition if it deems fit
for orderly developments of the market and reject an application at any stage without assigning
any reasons.
67
CRITERION FOR A PERSON TO BE DEEMED TO BE ‘A FIT AND PROPER PERSON’
For the purpose of these guidelines, a person shall be deemed to be a fit and proper person
if (i) such person has a general reputation and record of fairness and integrity, including but
not limited to –
(a) financial integrity;
(b) good reputation and character; and
(c) honesty.
(ii) such person has not incurred any of the following
(a)
dis-qualifications -
the person or any of its whole time directors or managing partners has been
convicted by a Court for any offence involving moral turpitude or any
economic offence, or any offence against any laws;
(b)
an order for winding up has been passed against the person;
(c)
the person or any of its whole time directors or managing partners has been
declared insolvent and has not been discharged;
(d)
an order, restraining, prohibiting or debarring the person, or any of its whole
time directors or managing partners from dealing in commodities / securities
or from accessing the market has been passed by any regulatory authority
and a period of three years from the date of the expiry of the period specified
in the order has not elapsed;
(e)
any other order against the person or any of its whole time directors or
managing partners which has a bearing on the commodities market, has been
passed by any regulatory authority and a period of three years from the date
of the order has not elapsed;
(f)
the person has been found to be of unsound mind by a Court of competent
jurisdiction and the finding is in force; and
(g)
(iii)
the person is financially not sound.
If any question arises as to whether a person is a fit and proper person, the
decision of the Forward markets Commission in this behalf shall be final.
68
Annexure V (B)
Guidelines on the Equity Structure of the
Nationwide Multi Commodity Exchanges after five years of operation∗
th
F. No. 12/1/2007-IT
Dated 29 July 2009
Preamble
The Commodity Futures Derivative markets were opened up in 2002 and have witnessed very
rapid growth thereafter. The commodity exchanges have played a key role in their expansion. The
Government recognized and licenced three Nationwide Multi Commodity Exchanges (NMCEs) MCX, NCDEX and NMCE – who have completed five years of their operations in the commodity
derivatives market (CDM). The Forward Markets Commission has been issuing, from time to time
guidelines and directions aimed at better governance, transparency and investor confidence in the
CDM.
2. Recently, on May 14,2008, the Government has issued guidelines for setting up of a new
National Multi Commodity Exchange to further strengthen the existing infrastructure in CDM. In
the said Guidelines, para No. 5.3 has set the framework for shareholding and clause (f) of the said
para has provided for the revision of shareholding of a Nationwide Multi Commodity Exchange
(hereinafter referred to as “National Commodity Exchange” or “NCE” in short) after the
completion of 5 years of operation in the CDM. Therefore, all the National Commodity Exchanges
after completion of 5 years of operations need to align their shareholding pattern with the
shareholding pattern as specified below, within a period of one year failing which the concerned
National Exchange will be liable to lose its national status. This would mean that its recognition
for all commodities notified under section 15 or
∗
th
As Amended vide F. No. 12/1/2007-IT, dated 9 July 2010
69
otherwise not prohibited under section 17 of the Forward Contracts (Regulation) Act, 1952 will be
converted into recognition in specific commodities as may be listed in the recognition notification
and that too for specified period which will need to be renewed from time to time. The said period
of one year may be extended by the Forward Markets Commission in exceptional cases on
genuine grounds for a further period not exceeding one year.
(Explanation: “National Commodity Exchange” means a demutualised Commodity Derivative
Exchange with an independent professional management, an electronic trading platform, all India
operations and recognized under section 6 of the Forward Contracts (Regulation) Act, 1952 for
trading in all commodities notified u/s 15 or otherwise not prohibited for trading u/s 17 of the said
Act.)
This issue has been under the consideration of the Government for some time and it is
now pleased to issue the following guidelines in this behalf.
Guidelines
3. Government has powers to issue new guidelines. Guidelines for conversion of Regional
Exchanges into National Commodity Exchange needs to be spelt out. This issue has been under
the consideration of the Government for some time back and after revisiting and reviewing the
current ownership structure of the existing National Commodity Exchanges, the following
Guidelines are laid down:
3.1 All National Commodity Exchanges should have a paid up equity capital of atleast Rs. 50
crore and Networth* of atleast Rs. 100 crore as a going concern and on a continuous basis.
(* Note: Networth is defined in the enclosed Note 1)
3.2 The total shareholding of the class of entities mentioned below should not be less than 26%:
i. Government Companies, as defined in the Companies Act 1956;
ii. Banks and Public financial institutions;
iii. Government Companies as defined in the Companies Act, 1956, Cooperative
Societies as defined in the Societies Act and Federations
∗
th
Clause 3.3 amended vide F. No. 12/1/2007-IT, dated 9 July 2010
manufacturing or marketing agri inputs or marketing agri-produce or owning and
operating warehouses; and
iv. Warehousing Companies in the private sector having minimum five years’
standing in warehousing business and owning and operating warehouses in at
least two states.
However, the total shareholding of the Government companies mentioned in sub paras (i)
and (iii) above shall not be less than 10%.
3.3∗ No shareholder, except the original promoters/investors, at the time of recognition as
an NCE, either individually or together with persons acting in concert with it,
shall hold more than 15% of the paid up equity capital of the Exchange. For
original promoters/investors this limit will be the maximum of 26%.
In case the shareholding of each of the original promoters/investors including the
Anchor-Investor falls below 15%, one of the shareholders including the new
shareholders may be allowed by FMC to act as Anchor-Investor and to increase
its equity shareholding to a maximum of 26%.
The shareholding of Stock / Commodity Exchange (s) will, however, be governed
by the conditions contained in Para 3.4 of these guidelines.
70
(Explanation: “Anchor-Investor” is an investor who plays the lead role in managing the
National Commodity Exchange.)”
∗
th
Clause 3.4 amended vide F. No. 12/1/2007-IT, dated 9 July 2010
3.4∗ (a) The shareholding of any single Stock Exchange alongwith the persons acting in
concert shall not be more than 5% of the subscribed and paid up equity capital of
the said National Commodity Exchange. The cumulative shareholding of Stock
Exchanges in the relevant National Commodity Exchange shall not be more than
10%.
(b) The shareholding of any single Commodity Exchange alongwith the persons acting in
concert shall not be more than 15% of the subscribed and paid up equity capital of
the said National Commodity Exchange.
(c) The cumulative shareholding of all Stock / Commodity Exchanges alongwith the
persons acting in concert in the relevant National Commodity Exchange shall not
be more than 20% at any given point of time.”
3.5 The shareholders of the Exchange shall not have any trading interest either as a trading
member or as a client of the Exchange. The shareholding of a broker/member of any other
commodity exchange shall not exceed 1% and the total shareholding of all such
brokers/members taken together shall not exceed 10% of the paid up equity capital. They
will also not hold any seat in the Management/ Board of the Exchange.
3.6 No non-corporate entity, apart from those covered by the preceding para 3.5, shall hold more
than one percent of the paid up equity capital of the Exchange and the total of such
holdings together with that of those covered by para 3.5 shall not exceed 25% of the paid
up equity capital of the Exchange.
3.7 Allotment of shares to foreign entities must be in conformity with the provisions of the Press
Note no. 2 of 2008 dated March 12, 2008 issued by the Department of Industrial Policy &
Promotion, Government of India, subject to any changes therein made by the Government
from time to time.
71
3.8 It is obligatory on all shareholders of the Exchange to align the shareholding pattern, as per
these present guidelines and guidelines that may be issued by the Government/ Forward
Markets Commission from time to tome.
4 The Exchange shall confirm to the Commission in writing that the investors in whose favour the
divestment/fresh issue of equity is made, fulfill the criteria for ‘a fit and proper person’ as defined
in the enclosed Note 2.
5. All disinvestments or fresh issue of equity shares of more than 1% shall be subject to the prior
approval of the Forward Markets Commission and before seeking such approval, the Exchange
should ensure that the proposal satisfies the above requirements.
6. As far as the existing National Commodities Exchanges are concerned, the last date for
th
compliance with the above guidelines (except for amended para 3.4) shall be 30 September 2010,
th
which can be extended by the Forward Markets Commission upto 30 September, 2011 in
exceptional cases on genuine grounds. Provided that the last date for compliance with the
st
st
condition at para 3.4 would be 31 December, 2010 which could further be extended upto 31
March, 2011 by the Forward Markets Commission in exceptional cases on genuine grounds
( Brij Mohan ) Director(IT).
72
Note 1
Networth: The networth for the purposes of these guidelines will be computed as under:
1. Paid up equity share capital
Add
2. Non-redeemable preference shares capital
3. Share premium paid in cash
4. Reserves and surplus ( excluding capital reserve, revaluation reserve, and such other reserves
which have been earmarked for specific purposes and are not available for distribution)
Less
5. Loans and advances except for the ones given for the purposes of business of the Exchange.
6. Investments in non-quoted companies for the purposes other than developing infrastructure for
or in the Commodity Sector.
7. Investments in the non-marketable securities.
8. Investment in the quoted securities in excess of 10 % of total equity fund.
9. Intangible assets acquired for cash for purposes other than the business of the Exchange.
73
Note 2
CRITERION FOR A PERSON TO BE DEEMED TO BE
‘A FIT AND PROPER PERSON’
For the purpose of these guidelines, a person shall be deemed to be a fit and proper person
if (i) such person has a general reputation and record of fairness and integrity, including but not
limited to –
(a) financial integrity;
(b) good reputation and character; and
(c) honesty.
(ii) such person has not incurred any of the following dis-qualifications (a) the person or any of its whole time directors or managing partners has been
convicted by a Court for any offence involving moral turpitude or any
economic offence, or any offence against any laws;
(b) an order for winding up has been passed against the person;
(c) the person or any of its whole time directors or managing partners has been
declared insolvent and has not been discharged;
(d) an order, restraining, prohibiting or debarring the person, or any of its whole time
directors or managing partners from dealing in commodities / securities or
from accessing the market has been passed by any regulatory authority and a
period of three years from the date of the expiry of the period specified in the
order has not elapsed;
(e) any other order against the person or any of its whole time directors or managing
partners which has a bearing on the commodities market, has been passed by
any regulatory authority and a period of three years from the date of the order
has not elapsed;
(f) the person has been found to be of unsound mind by a Court of competent
jurisdiction and the finding is in force; and
(g) the person is financially not sound.
(iii) If any question arises as to whether a person is a fit and proper person, the decision of the
Forward markets Commission in this behalf shall be final.
74
Annexure VI
Uniform penalty structure
Particulars of Violations
Sr.No.
1
Maintenance of Books of
Accounts/Records/ Registers
partially/not maintained
Uniform Penalties
Non-maintenance of (a) Soudha Book
(b) Client Ledger (c) General Ledger
(d) Journals (e) Cash Book (f) Bank Pass Book :
Minimum of Rs. 25,000/- and Maximum of Rs.
50,000/- per register or / and deactivation of
trading terminals till compliance is done.
Not maintained the above mentioned books/
ledgers properly: Minimum of
Rs. 10,000/- and Maximum of Rs. 25,000/- per
register.
2
3
4
5
6
7
8
9
10
11
(a)
11
(b)
12
13
MCA & KYC Norms
KYC Forms formalities - not
maintained or /and not
maintained properly
(a) Non-obtainment/ Memberclient agreement
(b) Discrepancies/ deviation
from the prescribed memberclient agreement, if such
discrepancies/ deviations are
detrimental to clients
Risk Disclosure Document not
obtained from clients/incomplete
Clients Related
Non-segregation of clients money
Use of clients funds for own
purpose / for other clients.
Delay in Payment of Funds to
Clients Account / Delay in
transfer of Commodities to
Clients
Delay in Payment of Funds to
Clients / Delay in transfer of
Commodities to Clients beyond
15 days from the date of receipt
of request from Clients
More than one ID to a client
Non-maintenance of client
code/non mapping of trading
code.
Contract Note – non-issued
Belated issue/no proof of receipt
of contract note.
Non-maintenance of duplicate
copies of contract note sent.
Non-maintenance
Rs. 10,000/- per client.
Rs. 10,000/- per client.
Rs. 5,000/- per client.
Rs. 25,000/- or 1% on the non segregated client
money, which ever is higher.
Rs. 50,000/- or 1 % per month of the money
utilized, whichever is higher.
Rs. 5,000/- - Rs. 25,000/- per instance.
Rs. 50,000/-or 1% of the value of the amounts /
commodities, per instance
Rs. 10,000/- per ID
Rs. 10,000/- per client
Rs. 10,000/- per client
Rs. 5,000/- per client
Rs. 5000/- per client
Rs. 10,000/- per Register per office
75
Sr.No.
14
(a)
14
(b)
15
16
17
18
19
20
Particulars of Violations
Grievance/Complaints Register
Margin collection: noncollection/partial collection
Adopting procedure (like use of
pro-code for client trade) to evade
margin
Net worth certificate- nonproduction/improper
Non-display of Information Board
including details of Registration
details as prescribed by the
Exchange.
Unauthorized or Illegal Trading
activities / Fictitious Transactions
Violation of the Advertisement
Code of the Exchange
Trading (TWS/CTCL) terminals
provided to intermediaries or
unauthorized extension of trading
net work / non submission of
required details of CTCL
terminals to the Exchange
Non-payment of statutory dues /
duties / fees etc.
Uniform Penalties
0.1% of the margin not collected.
0.5% per day of the margin money evaded or
Rs. 5,000/- per day, whichever is higher.
Rs. 200/- per day.
Rs. 10,000/- per office.
Minimum of Rs.1 lakh per case and Max.Rs.5
lakh .
Offences like contract notes / wash trades will
be investigated by the exchange and other
penalty provisions termination / suspension of
members will be imposed.
Rs. 5,000/- per instance
First Instance – Rs.25,000/- per terminal.
Repeated Instances - Rs.50,000/- per terminal
and / or deactivation of trading terminals till the
compliance is made.
Some mechanism for taking disciplinary action
to be put in place to improve compliance. The
provisions, however, in no way should interfere
with the penal provisions in the respective Acts.
Note: i) In addition to the financial penalties prescribed in the table above, if serious violations
noticed, the Exchange shall deactivate trading terminals of Members and initiate disciplinary
proceedings, which may culminate in suspension of Membership.
ii.)Non-compliance of the statutory requirements by the Members will lead to disciplinary
proceedings
76
Annexure VII - A
Details of Awareness Programmes organized during the year 2009-10
S. No.
1
Name of the lead Exchange
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Category
Student
Place
ICFAI
Vijayawad
a
Date
18.4.2009
2
National Multi Commodity
Exchange of India Ltd.,
Ahmedabad
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Multi Commodity Exchange of
India, Mumbai
MCX, Mumbai
MCX, Mumbai
General
Punalur
(Kerala)
20.4.2009
Student
Guntur
21.4.2009
State Marketing
Board
General
General
Pune
22.4.2009
Delhi
Delhi
16.5.2009
18.5.2009
3
4
5
6
7
National Multi Commodity
Exchange of India Ltd.,
Ahmedabad
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Traders
(Rubber)
Kottayam
20.5.2009
Turmeric
Traders
Nizamaba
d, A.P.
22.5.2009
National Multi Commodity
Exchange of India Ltd.,
Ahmedabad
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
General
Idukki
23.5.2009
Turmeric
Traders
Sangli
Maharasht
ra
27.5.2009*
11
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Turmeric
Traders
Erode,
T.N.
30.5.2009
12
National Multi Commodity
Exchange of India Ltd.,
Ahmedabad
General
Ponkunna
m (Kerala)
30.5.2009
13
Multi Commodity Exchange of
India, Mumbai
General
Srigangan
agar
30.5.2009
14
MCX-GSK
Farmers
Mozari
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
2.6.2009
15
MCX-GSK
Farmers
Giroli
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
2.6.2009
8
9
10
77
S. No.
16
Name of the lead Exchange
MCX-GSK
Category
Farmers
Place
Pimpalgao
n (Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Date
3.6.2009
17
MCX-GSK
Farmers
3.6.2009
18
MCX-GSK
Farmers
19
MCX-GSK
Farmers
20
MCX-GSK
Farmers
21
MCX-GSK
Farmers
22
MCX-GSK
Farmers
23
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Hedgers
24
Multi Commodity Exchange of
India, Mumbai
- UAS Bangalore
MCX-GSK
Farmers
Shirpur
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Gaul
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Nagzari
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Selsura
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Watkhed
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Andori
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Mandi
Gobindgar
h, Punjab
Kodagu,
Karnataka
Kalwadi
(Akot
GSK, Dist
Akola,
15.6.2009
25
Farmers
4.6.2009
4.6.2009
5.6.2009
5.6.2009
6.6.2009
8.6.2009
9.6.2009
78
S. No.
Name of the lead Exchange
Category
Place
Maharasht
ra)
Date
26
MCX-GSK
Farmers
Asegaon
(Akot
GSK, Dist
Akola,
Maharasht
ra)
16.6.2009
27
MCX-GSK
Farmers
16.6.2009
28
MCX-GSK
Farmers
Punda
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Sawara
(Akot
GSK, Dist
Akola,
Maharasht
ra)
29
MCX-GSK
Farmers
Kutasa
(Akot
GSK, Dist
Akola,
Maharasht
ra)
17.6.2009
30
MCX-GSK
Farmers
Palsod
(Akot
GSK, Dist
Akola,
Maharasht
ra)
18.6.2009
31
MCX-GSK
Farmers
18.6.2009
32
MCX-GSK
Farmers
33
MCX-GSK
Farmers
Chandikap
ur (Akot
GSK, Dist
Akola,
Maharasht
ra)
Akolkhed
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Ruikhed
(Akot
GSK, Dist
Akola,
Maharasht
17.6.2009
19.6.2009
19.6.2009
79
S. No.
Name of the lead Exchange
Category
Place
ra)
Panaj
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Date
34
MCX-GSK
Farmers
35
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Traders
Kanpur
20.6.2009
36
Rajkot Commodity Exchange Ltd.,
Rajkot
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumba
i
National Multi Commodity
Exchange of India Ltd.,
Ahmedabad
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Farmers
Junagadh
21.6.2009
Traders
Barielly,
U.P.
21.6.2009
Farmers
Anchal,
Kollam
23.6.2009
Students
25.6.2009
40
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
41
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Traders
(Guarseed/
gum)
General
Navsari,
Gujarat [
Institute of
Agribusin
es
Managem
ent,
Agricultur
al
University
, Navsari]
Palanpur
(Gujarat)
Sri
Gangaa
Nagar
3.7.2009
42
MCX-GSK
Farmers
Belati
(Solapur
GSK,
Maharasht
ra)
3.7.2009
43
MCX-GSK
Farmers
Darganhal
li (Solapur
GSK,
Maharasht
ra)
3.7.2009
44
National Multi Commodity
Exchange of India Ltd.,
Ahmedabad
MCX-GSK
Farmers
Kottayam
4.7.2009
Farmers
Musti
(Solapur
4.7.2009
37
38
39
45
20.6.2009
27.6.2009
80
S. No.
Name of the lead Exchange
Category
Place
GSK,
Maharasht
ra)
Ule
(Solapur
GSK,
Maharasht
ra)
Kasegaon
(Solapur
GSK,
Maharasht
ra)
Nandani
(Solapur
GSK,
Maharasht
ra)
Date
46
MCX-GSK
Farmers
47
MCX-GSK
Farmers
48
MCX-GSK
Farmers
49
MCX-GSK
Farmers
Hagloor
(Solapur
GSK,
Maharasht
ra)
6.7.2009
50
MCX-GSK
Farmers
7.7.2009
51
MCX-GSK
Farmers
Boramani
(Solapur
GSK,
Maharasht
ra)
Pathri
(Solapur
GSK,
Maharasht
ra)
52
Multi Commodity Exchange of
India, Mumbai
Students
Bapatla
Agricultur
al College
– Guntur
(AP)
17.7.2009
53
MCX
General
Bangalore
17.7.2009
54
Multi Commodity Exchange of
India, Mumbai
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
General
Itarsi
18.7.2009
Students
Xavier’s
Institute of
Managem
ent,
Bhubanes
hwar
MITCON
Institute of
18.7.2009
55
56
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Students
4.7.2009
5.7.2009
6.7.2009
7.7.2009
25.7.2009
81
S. No.
Name of the lead Exchange
Category
Place
Managem
ent, Pune
Kangeyem
T.N.
Baramati
Vidya
Pratishtha
n Institute
of
Informatio
n
Technolog
y,
Vashi
Mandi
Date
57
FCEI
General
25.7.2009
58
National Commodity & Derivatives
Exchange Ltd., (NCDEX), Mumbai
Students
59
MCX
Mandi
60
MCX-CIFA
Farmers
Bangalore
9.8.2009
61
NMCE, Ahmedabad
Farmers
10.8.2009
62
NMCE, Ahmedabad
Farmers
Banaskant
ha
College of
Agri
business
Managem
ent, SD
Agricultur
al
University
Kollam
Kerala
63
MCX, Mumbai
Farmers
20.8.2009
64
NCDEX
Students
Hyderaba
d
Prestige
Institute of
Managem
ent, Indore
65
NMCE, Ahmedabad
Farmers
Ernakulam
Kerala
21.8.2009
66
NCDEX
General
MDI,
Bank of
India,
Mumbai
24.8.2009
67
MCX-CIFA
Farmers
24.8.2009
68
NCDEX
Students
Coimbator
e
Bikaner
28.8.2009
69
MCX
Members
Mumbai
29.8.2009
70
NMCE, Ahmedabad
Hedgers
Ludhiana
3.9.2009
28.7.2009
31.7.2009
17.8.2009
20.8.2009
82
S. No.
71
Name of the lead Exchange
NMCE, Ahmedabad
Category
Hedgers
Place
Jalandhar
Date
4.9.2009
72
NCDEX, Mumbai
Students
IBS
Bangalore
8.9.2009
73
MCX, Mumbai
General
Trichy
8.9.2009
74
MCX, Mumbai
Mandi Board
Indore
9.9.2009
75
NCDEX, Mumbai
Members
18.9.2009
76
NCDEX, Mumbai
Members
77
NCDEX, Mumbai
Students
78
NCDEX, Mumbai
General
Nagour
(Rajasthan
)
Nokha,
(Rajasthan
)
LIBA
Layola
Colleg`e,
Chennai
Ghaziabad
79
NCDEX, Mumbai
Students
Kohinor
Business
Scholl,
Khandala
26.9.2009
80
NMCE, Ahmedabad
Farmers
26.9.2009
81
MCX, Mumbai
Traders
82
NMCE, Ahmedabad
Farmers
Wayanad
– Kerala
Ahmedaba
d
Kozhicode
(Oleena
Mahilasamajam)
83
NMCE, Ahmedabad
Mandi Board
Gandhina
gar
7.10.2009
84
MCX, Mumbai
Traders
10.10.2009
85
MCX-GSK
Farmers
86
MCX-GSK
Farmers
Srigangan
agar
Ringankha
pa
(Pandhurn
a GSK;
Dist
Chindwar
a, M.P.)
Changoba
(Pandhurn
a GSK;
Dist
Chindwar
a
19.9.2009
22.9.2009
23.9.2009
3.10.2009
3.10.2009
12.10 2009
13.10.2009
83
S. No.
87
Name of the lead Exchange
MCX-GSK
Category
Farmers
Place
Nandanba
di
(Pandhurn
a GSK;
Dist
Chindwar
a
Date
13.10.2009
88
MCX-GSK
Farmers
14.10.2009
89
MCX-GSK
Farmers
90
NCDEX, Mumbai
Students
91
MCX-GSK
Farmers
92
MCX-GSK
Farmers
93
NCDEX, Mumbai
Students
94
NCDEX, Mumbai
Students
Kondali
(Pandhurn
a GSK;
Dist
Chindwar
a
Parsodi
(Pandhurn
a GSK;
Dist
Chindwar
a
Udaipur Pacific
Institute
Dhanora
(Pandhurn
a GSK;
Dist
Chindwar
a
Dhavdikh
apa
(Pandhurn
a GSK;
Dist
Chindwar
a
IIM
Indore
Nagpur Centum
Learning
Centre
95
NCDEX, Mumbai
Members
24.10.2009
96
NMCE, Ahmedabad
Farmers
Kota,
Rajasthan
Calicut
97
MCX-GSK
Farmers
98
MCX-GSK
Farmers
Chikni
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Sonegaon
14.10.2009
14.10.2009
15.10.2009
15.10.2009
19.10.2009
23.10.2009
24.10.2009
27.10.2009
28.10.2009
84
S. No.
Name of the lead Exchange
Category
99
MCX-GSK
Farmers
100
MCX-GSK
Farmers
101
MCX-GSK
Farmers
102
NCDEX, Mumbai
Students
103
MCX-GSK
Farmers
104
MCX-GSK
Farmers
105
MCX-GSK
Farmers
106
MCX-GSK
Farmers
107
MCX-GSK
Farmers
Place
Abaji
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Padhegao
n (Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Wabgaon
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Nandora
Dafre
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
IIM
Bangalore
Khangaon
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Kangaon
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Kapsi
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Bhidi
(Deoli
GSK, Dist
Wardha,
Maharasht
ra)
Bordi
Branch
Date
28.10.2009
29.10.2009
29.10.2009
29.10.2009
30.10.2009
30.10.2009
31.10.2009
31.10.2009
3.11.2009
85
S. No.
108
109
110
111
112
Name of the lead Exchange
MCX-GSK
MCX-GSK
MCX-GSK
MCX-GSK
MCX-GSK
Category
Farmers
Farmers
Farmers
Farmers
Farmers
Place
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Umara
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Deori
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
DanoriPanori
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Kawasa
Bk.
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Warur
Jaulka
Branch
Post
Office
(Akot
Date
4.11.2009
4.11.2009
5.11.2009
5.11.2009
6.11.2009
86
S. No.
Name of the lead Exchange
Category
113
MCX-GSK
Farmers
114
MCX-GSK
Farmers
115
MCX-GSK
Farmers
116
MCX-GSK
Farmers
117
MCX-GSK
Farmers
118
MCX, Mumbai
Students
Place
GSK, Dist
Akola,
Maharasht
ra)
Wadali
Deshmukh
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Khirkund
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Mohala
Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Popatkhed
a Branch
Post
Office
(Akot
GSK, Dist
Akola,
Maharasht
ra)
Gharphal
Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
IES,
Bandra,
Date
6.11.2009
7.11.2009
7.11.2009
8.11.2009
13.11.2009
14.11.2009
87
S. No.
Name of the lead Exchange
Category
Place
Mumbai
Palakkad
Date
119
NMCE, Ahmedabad
Farmers
14.11.2009
120
MCX-GSK
Farmers
Pachkhed
Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
14.11.2009
121
MCX-GSK
Farmers
Watkhed
Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
14.11.2009
122
NCDEX, Mumbai
Students
IIT
Chennai
15.11.2009
123
MCX-GSK
Farmers
Ganori
Branch
Post
Offiice
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
15.11.2009
124
MCX-GSK
Farmers
15.11.2009
125
MCX-GSK
Farmers
Kotamba
Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
Phalegaon
Branch
Post
Office
(Babhulga
16.11.2009
88
S. No.
Name of the lead Exchange
Category
Place
on GSK,
Dist
Yavatmal,
Maharasht
ra)
Date
126
MCX-GSK
Farmers
Sarul
Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
16.11.2009
127
MCX-GSK
Farmers
Kharda
Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
17.11.2009
128
MCX-GSK
Farmers
Pimpalkhu
ta Branch
Post
Office
(Babhulga
on GSK,
Dist
Yavatmal,
Maharasht
ra)
17.11.2009
129
NCDEX, Mumbai
Guntur
18.11.2009
130
NCDEX, Mumbai
Member and
Physical Traders
Students
IIM
Lucknow
21.11.2009
131
NCDEX, Mumbai
Students
26.11.2009
132
MCX-GSK
Farmers
Institute of
Managem
ent, Nirma
University
(IMNU),
Ahmedaba
d
Bamhanpu
r Branch
Post
1.12.2009
89
S. No.
133
Name of the lead Exchange
MCX-GSK
Category
Farmers
134
MCX-GSK
Farmers
135
MCX-GSK
Farmers
136
137
MCX, Mumbai
MCX, Mumbai
138
NCDEX, Mumbai
139
MCX-GSK
Traders
Market Intermediaries
Members and
Traders
Farmers
140
MCX-GSK
Farmers
141
MCX-GSK
Farmers
Place
Office
(Jais GSK,
Dist
RaeBareli,
U.P.)
Pariya
Namaskar
Branch
Post
Office
(Jais GSK,
Dist
RaeBareli,
U.P.)
Barkhurrd
arpur
Branch
Post
Office
(Jais GSK,
Dist
RaeBareli,
U.P.)
Kanta
Branch
Post
Office
(Jais GSK,
Dist
RaeBareli,
U.P.)
Kakinada
Rajahmu
mdry
Jammu
Ashrafpur
Branch
Post office
(Nasiraba
d GSK,
Dist
RaeBareli,
U.P.)
Lahenga
Branch
Post office
(Nasiraba
d GSK,
Dist
RaeBareli,
U.P.)
Sujwari
Branch
Date
2.12.2009
3.12.2009
4.12.2009
4.12.2009
5.12.2009
5.12.2009
5.12.2009
6.12.2009
7.12.2009
90
S. No.
142
Name of the lead Exchange
Category
MCX-GSK
Farmers
NCDEX, Mumbai
Students
144
NCDEX, Mumbai
145
146
147
MCX, Mumbai
MCX, Mumbai
MCX-GSK
Members and
Traders
Students
Mandi Board
Farmers
143
148
MCX-GSK
Farmers
149
MCX-GSK
Farmers
150
MCX Mumbai
General
151
NCDEX, Mumbai
Students
Place
Post office
(Nasiraba
d GSK,
Dist
RaeBareli,
U.P.)
Alampur
Branch
Post office
(Nasiraba
d GSK,
Dist
RaeBareli,
U.P.)
PSG
Institute of
Managem
ent,
Coimbator
e, Tamil
Nadu
Bhubhane
shwar
Nagpur
Lucknow
Thulwasa
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Pahremau
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Amavan
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Visakapat
anam
Assam
Institute of
Managem
Date
8.12.2009
8.12.2009
12.12.2009
14.12.2009
14.12.2009
15.12.2009
16.12.2009
17.12.2009
18.12.2009
18.12.2009
91
S. No.
Name of the lead Exchange
Category
152
NCDEX, Mumbai
Students
153
NCDEX, Mumbai
154
MCX, Mumbai
155
MCX-GSK
Members and
Traders
Physical market
traders
Farmers
MCX-GSK
Farmers
MCX-GSK
Farmers
158
MCX-GSK
Farmers
159
MCX-GSK
Farmers
156
157
Place
ent,
Guwahati,
Assam
Darwin
Institute of
Management,
Guwahati,
Assam
Ranchi
Date
18.12.2009
18.12.2009
Jodhpur
19.12.2009
Oandeeh
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Jyona
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Janai
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Teesakhan
pur
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.)
Bahadur
nagar
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
19.12.2009
20.12.2009
21.12.2009
22.12.2009
23.12.2009
92
S. No.
Name of the lead Exchange
Category
160
MCX-GSK
Farmers
161
162
MCX, Mumbai
NCDEX, Mumbai
General
Traders
163
MCX-GSK
Farmers
164
MCX-GSK
Farmers
165
166
MCX-GSK
MCX-GSK
Farmers
Farmers
Place
U.P.)
Sidhona
Branch
Post office
(Maharajg
anj GSK,
Dist
RaeBareli,
U.P.
Tenali
Varnasi
Umaran
Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Sareni
Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Badangao
n Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Daulatpur
Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Date
24.12.2009
29.12.2009
2.1.2010
2.1.2010
3.1.2010
4.1.2010
5.1.2010
167
NIAM, Jaipur
Farmers
Koderma
Jharkhand
5.1.2010
168
NIAM, Jaipur
Farmers
Girdeeh
Jharkhand
6.1.2010
169
NIAM, Jaipur
Farmers
Baran
Rajasthan
6.1.2010
170
MCX, Mumbai
General
Bangalore
6.1.2010
93
S. No.
171
172
173
Name of the lead Exchange
MCX-GSK
MCX-GSK
MCX-GSK
Category
Farmers
Farmers
Farmers
Place
Mavai
Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Kandrawa
n Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Pachakhar
a Branch
Post office
(Mustafab
ad GSK,
Dist
RaeBareli,
U.P.)
Kota
Rajasthan
Date
6.1.2010
7.1.2010
8.1.2010
174
NIAM, Jaipur
Farmers
175
MCX, Mumbai
General
Vijawada
9.1.2010
176
NIAM, Jaipur
Farmers
Deoghar
Jharkhand
9.1.2010
177
NIAM, Jaipur
Farmers
Dausa
Rajasthan
10.1.2010
178
MCX, Mumbai
Traders
Mumbai
11.1.2010
179
NIAM, Jaipur
Farmers
Jamtara
Jharkhand
12.1.2010
180
NIAM, Jaipur
Farmers
Bokaro
Jharkhand
13.1.2010
181
NIAM, Jaipur
Farmers
15.1.2010
182
NIAM, Jaipur
Farmers
183
NIAM, Jaipur
Farmers
Sundergar
h
Orissa
Bageshwa
r
Uttarakha
nd
Keonjhar
Orissa
184
MCX, Mumbai
Investors and
Guwahati
8.1.2010
15.01.2010
16.1.2010
16.1.2010
94
S. No.
Name of the lead Exchange
185
NCDEX, Mumbai
Category
members/
(Clients,
Hedgers and
members.)
Traders
186
NCDEX, Mumbai
Traders
187
NCDEX, Mumbai
Traders
188
CIFA
189
Place
Date
Hissar
16.1.2010
Narela,
Delhi
Alwar
16.1.2010
Farmers
Raipur,
Chattisgar
h
17.1.2010
NIAM, Jaipur
Farmers
Deogarh
Orissa
17.1.2010
190
NIAM, Jaipur
Farmers
Belgaum
Karnataka
17.1.2010
191
NIAM, Jaipur
Farmers
18.1.2010
192
NIAM, Jaipur
Farmers
193
NIAM, Jaipur
Farmers
194
NIAM, Jaipur
Farmers
195
NIAM, Jaipur
Farmers
196
NIAM, Jaipur
Farmers
197
NIAM, Jaipur
Farmers
Sambhalp
ur
Orissa
Etawa
Uttar
Pradesh
Pauri
Garhwal
Uttarakha
nd
Mainpuri
Uttar
Pradesh
Jharsugud
a
Orissa
Lekh
Saraien
Bihar
Ghansali
Uttarakha
nd
Lalumau
Branch
Post office
(Lalganj
GSK, Dist
RaeBareli,
U.P.)
Ambara
Pashchim
Branch
Post office
(Lalganj
GSK, Dist
198
199
MCX-GSK
MCX-GSK
Farmers
Farmers
16.1.2010
18.1.2010
18.1.2010
19.1.2010
19.1.2010
19.1.2010
19.1.2010
19.1.2010
20.1.2010
95
S. No.
Name of the lead Exchange
Category
200
NIAM, Jaipur
Farmers
201
NIAM, Jaipur
Farmers
202
MCX, Mumbai
Cochin
University of
Science and
Technology
203
NIAM, Jaipur
Farmers
204
NIAM, Jaipur
Farmers
205
MCX, Mumbai
Mandi
206
MCX-GSK
Farmers
207
NCDEX, Mumbai
Farmers
208
MCX-GSK
Farmers
Place
RaeBareli,
U.P.)
Shekhpura
Bihar
Firozabad
Uttar
Pradesh
Cochin
Date
20.1.2010
20.1.2010
20.1.2010
Mathura
Uttar
Pradesh
Munger
Bihar
21.1.2010
Ranch,
Jharkhand
Deepemau
Branch
Post office
(Lalganj
GSK, Dist
RaeBareli,
U.P.)
Agricultur
al
University
, Rahuri
Ahmedna
gar
Akauni
Branch
Post office
(Lalganj
GSK, Dist
RaeBareli,
U.P.)
Khagaria
Bihar
21.1.2010
21.1.2010
21.1.2010
22.1.2010
22.1.2010
209
NIAM, Jaipur
Farmers
22.1.2010
210
NIAM, Jaipur
Farmers
Paonta
Sahib
(Sirmor),
Himachal
Pradesh
22.1.2010
211
NIAM, Jaipur
Farmers
23.1.2010
212
NIAM, Jaipur
Farmers
Madhepur
a
Bihar
Nagaur
Rajasthan
23.1.2010
96
S. No.
213
214
215
Name of the lead Exchange
NIAM, Jaipur
Category
Farmers
MCX-GSK
Farmers
MCX-GSK
Farmers
Place
Etah
Uttar
Pradesh
Bannamau
Branch
Post office
(Lalganj
GSK, Dist
RaeBareli,
U.P.)
Merui
Branch
Post office
(Lalganj
GSK, Dist
RaeBareli,
U.P.)
Anna
University
, Chennai
Bagalkot
Karnataka
Date
23.1.2010
23.1.2010
24.1.2010
216
NCDEX
Students
217
NIAM, Jaipur
Farmers
218
NIAM, Jaipur
Farmers
Jodhpur
Rajasthan
25.1.2010
219
NIAM, Jaipur
Farmers
Guwahati
Assam
27.1.2010
220
MCX-GSK
Farmers
Tirhe
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
221
222
MCX-GSK
MCX-GSK
Farmers
Farmers
Dongaon
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
Arali
Branch
Post
Office
(Solapur
GSK, Dist
25.1.2010
25.1.2010
27.1.2010
28.1.2010
28.1.2010
97
S. No.
Name of the lead Exchange
Category
Place
Solapur,
Maharasht
ra)
Date
223
MCX, Mumbai
General
Chennai
224
NIAM, Jaipur
Farmers
Nagaon
Assam
225
NIAM, Jaipur
Farmers
Ambala
Haryana
226
NIAM, Jaipur
Farmers
Yamunanag 29.1.2010
ar Haryana
227
MCX-GSK
Farmers
Tandulwa
di Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
228
229
230
231
MCX-GSK
MCX-GSK
MCX-GSK
MCX, Mumbai
Farmers
Farmers
Farmers
General
Mardi
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
Honsal
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
Barur
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
Vishakapa
tnam
29.1.2010
29.1.2010
29.1.2010
29.1.2010
29.1.2010
30.1.2010
30.1.2010
30.1.2010
98
S. No.
232
Name of the lead Exchange
MCX, Mumbai
Category
General
233
NIAM, Jaipur
Farmers
234
NCDEX
Students
235
NIAM, Jaipur
Farmers
236
237
238
239
MCX-GSK
MCX-GSK
MCX-GSK
NIAM, Jaipur
Farmers
Farmers
Farmers
Farmers
240
241
MCX, Mumbai
NIAM, Jaipur
General
Farmers
242
NIAM, Jaipur
Farmers
243
NIAM, Jaipur
Farmers
244
NIAM, Jaipur
Farmers
245
NIAM, Jaipur
Farmers
Place
Srigangan
agar
Rudrapray
ag (UK)
Date
30.1.2010
CA
Chapter,
Mulund,
Mumbai
Trilokpurr
, Nahan,
Himachal
Pradesh
Takli
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
Kawtha
Branch
Post
Office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
Darganhal
li Branch
Post office
(Solapur
GSK, Dist
Solapur,
Maharasht
ra)
31.1.2010
Gandhina
gar
Gujarat
Agra
Patan
Gujarat
Jorhat
Assam
Kheda
Gujarat
Mahesana
Gujarat
JanjgirChampa
30.1.2010
31.1.2010
31.1.2010
1.2.2010
1.2.2010
1.2.2010
1.2.2010
2.2.2010
2.2.2010
3.2.2010
3.2.2010
4.2.2010
99
S. No.
246
Name of the lead Exchange
NIAM, Jaipur
Category
Farmers
247
NIAM, Jaipur
Farmers
248
NIAM, Jaipur
Farmers
249
NIAM, Jaipur
Farmers
250
MCX, Mumbai
Students
251
NCDEX, Mumbai
Students
252
NIAM, Jaipur
Farmers
253
NIAM, Jaipur
Farmers
254
NIAM, Jaipur
Farmers
255
NIAM, Jaipur
Farmers
256
NIAM, Jaipur
Farmers
257
NIAM, Jaipur
Farmers
258
NIAM, Jaipur
Farmers
259
NIAM, Jaipur
Farmers
260
NIAM, Jaipur
Farmers
261
NIAM, Jaipur
Farmers
262
NABARD – MCX
Farmers
263
NIAM, Jaipur
Farmers
264
NIAM, Jaipur
Farmers
Place
Chattisgar
h
Dehradun
Uttarakha
nd
Dimapur
Nagaland
Bilaspur
Chattisgar
h
Anand
Gujarat
Rajpura
(Chadigar
h)
Pune
MITCON
Institute of
Managem
ent
Korba
Chattisgar
h
Rohtak,
Haryana
Goalpara
Assam
Ambikapu
r, Sarguja,
Chattisgar
h
Dharward
Karnataka
Baikunthp
ur
Chattisgar
h
Rewari
Haryana
Mangaldai
Assam
Badodara
Gujarat
Panchmah
al
Gujarat
Ratlam
(MP)
Burdwan
West
Bengal
Sangrur
Date
4.2.2010
4.2.2010
5.2.2010
5.2.2010
5.2.2010
6.2.2010
6.2.2010
6.2.2010
6.2.2010
7.2.2010
7.2.2010
8.2.2010
8.2.2010
8.2.2010
8.2.2010
9.2.2010
9.2.2010
10.2.2010
10.2.2010
100
S. No.
265
266
Name of the lead Exchange
NIAM, Jaipur
NIAM, Jaipur
Category
Farmers
Farmers
267
NIAM, Jaipur
Farmers
268
NABCONS
Farmers
269
NABARD – MCX
Farmers
270
NIAM, Jaipur
Farmers
271
272
NABARD – MCX
NIAM, Jaipur
Farmers
Farmers
273
NIAM, Jaipur
Farmers
274
NIAM, Jaipur
Farmers
275
NIAM, Jaipur
Farmers
276
277
NCDEX, Mumbai
NIAM, Jaipur
Traders
Farmers
278
NIAM, Jaipur
Farmers
279
NIAM, Jaipur
Farmers
280
NIAM, Jaipur
Farmers
281
NIAM, Jaipur
Farmers
282
NABARD – MCX
Farmers
283
UAS – Dharwad
Farmers
284
285
UAS – Dharwad
NIAM, Jaipur
Farmers
Farmers
Place
Punjab
Silchar,
Cachar
Assam
Agra,
Uttar
Pradesh
Imphal
Manipur
Haridwar
Uttarkhan
d
Khandwa
(MP)
Patiala
Punjab
Dhar(MP)
Solapur,
Maharasht
ra
Aligarh
Uttar
Pradesh
Tuikual,
Aizawal,
Mizoram
Osmanaba
d,
Maharasht
ra
Cochin
Aara
Bihar
Latur
Maharasht
ra
Kurukshet
ra
Haryana
Agartala
Tripura
Hazipur
Vaishali
Bihar
Indore
(MP)
Ranebenn
ur
Sirsi
Tarakeswa
r
West
Date
10.2.2010
10.2.2010
10.2.2010
10.2.2010
10.2.2010
11.2.2010
11.2.2010
11.2.2010
11.2.2010
12.2.2010
12.2.2010
13.2.2010
13.2.2010
14.2.2010
15.2.2010
15.2.2010
15.2.2010
15.2.2010
15.2.2010
16.2.2010
16.2.2010
101
S. No.
Name of the lead Exchange
Category
286
NIAM, Jaipur
Farmers
287
NABCONS
Farmers
288
NABARD – MCX
Farmers
289
NCDEX, Mumbai
Farmers
290
NABCONS
Farmers
291
NABCONS
Farmers
292
NIAM, Jaipur
Farmers
293
NIAM, Jaipur
Farmers
294
NIAM, Jaipur
Farmers
295
NIAM, Jaipur
Farmers
296
NIAM, Jaipur
Farmers
297
NIAM, Jaipur
Farmers
298
NIAM, Jaipur
Farmers
299
NIAM, Jaipur
Farmers
300
MCX, Mumbai
Farmers
301
NIAM Jaipur
Farmers
302
303
UAS – Dharwad
UAS – Dharwad
304
NIAM Jaipur
Place
Bengal
Ludhiana
Punjab
Haldiwani
Uttarakha
nd
Gwalior
(MP)
Agra UP
Date
16.02.2010
17.02.2010
17.2.2010
17.2.2010
Faculty
Faculty
Amritsar
Punjab
US Nagar
Rudrapur
Uttarakha
nd
Jalandhar
Punjab
Amritsar
Punjab
Gangtok
Sikkim
Dalhousie,
Chamba
Himachal
Pradesh
Imphal
Manipur
Koppal
Karnataka
Chopra,
Jalgaon
MS
Umarkhed
,
Yavatmal
Maharasht
ra
Agricultur
al
Marketing
Training
College ,
Vidyanaga
r, Hubli
Gadag
Karnataka
Bijapur
Bagalkot
22.2.2010
23.2.2010
Farmers
Thoubal,
23.2.2010
18.2.2010
18.2.2010
18.2.2010
18.02.2010
19.2.2010
19.02.2010
19.2.2010
21.02.2010
21.02.2010
22.02.2010
22.2.2010
22.02.2010
102
S. No.
Name of the lead Exchange
Category
305
305
MCX
NIAM, Jaipur
Mandi Board
Farmers
307
NABCONS
Farmers
308
NABCONS
Farmers
309
NABCONS
Farmers
310
NIAM, Jaipur
Farmers
311
NIAM, Jaipur
Farmers
312
313
CIFA-MCX
NABCONS
Farmers
Farmers
314
NABCONS
Farmers
315
NABCONS
Farmers
316
NABCONS
Farmers
317
NABARD – NCDEX
Farmers
318
NIAM, Jaipur
Farmers
319
NABCONS
Farmers
320
NABCONS
Farmers
321
NIAM, Jaipur
Farmers
322
NIAM, Jaipur
Farmers
323
NIAM, Jaipur
Farmers
324
NABARD – NCDEX
Farmers
325
NABCONS
Farmers
326
327
NABCONS
NABCONS
Farmers
Farmers
328
NABCONS
Farmers
329
NABCONS
Farmers
Place
Manipur
Gwalior
Krishanag
ar
West
Bengal
Jabalpur
M.P.
Alwar
Rajasthan
Faizabad
UP
Darvha,
Yavatmal
Karanja,
Washim
Jabalpur
Ferozepur
Punjab
Kollam
Kerala
Ernakula
m
Kerala
Gorakhpur
UP
Bhandara
(MS)
Kullu
Himachal
Pradesh
Varanasi
UP
Jorhat,
Assam
Mandi,
Himachal
Pradesh
Amarawat
i
Motala,
Buldhana
Gondia
(MS)
Tinsukhia,
Assam
Allahabad
Gurgaon
Haryana
Lohit
Arunachal
Pradesh
Kodagu
Date
23.2.2010
23.02.2010
23.02.2010
23.02.2010
23.02.2010
23.02.2010
24.02.2010
24.2.2010
24.2.2010
24.2.2010
24.2.2010
24.2.2010
24.2.2010
24.02.2010
25.2.2010
25.2.2010
25.02.2010
25.02.2010
26.02.2010
26.2.2010
26.2.2010
26.2.2010
26.2.2010
26.2.2010
26.2.2010
103
S. No.
Name of the lead Exchange
Category
330
NABCONS
Farmers
331
NABCONS
Farmers
332
NABCONS
Farmers
333
NIAM, Jaipur
Farmers
334
NIAM, Jaipur
Farmers
335
NABCONS
Farmers
336
NIAM, Jaipur
Farmers
337
NIAM, Jaipur
Farmers
338
NABCONS
Farmers
339
NABCONS
Farmers
340
NABCONS
Farmers
341
MCX-GSK
Farmers
342
MCX-GSK
Farmers
343
MCX-GSK
Farmers
344
MCX-GSK
Farmers
Place
Karnataka
Gwalior
M.P.
Bareilly
UP
Thrissur
Kerala
Chopada,
Jalgaon,
Maharasht
ra
Ukhrul
Manipur
Kozhikod
e
Kerala
Raiganj
West
Bengal
Jalpaiguri
West
Bengal
Sirsa
Haryana
Dhule
Maharasht
ra
Ludhiyana
Punjab
Ajeetpur
Branch
Post office
(Lalganj
GSK, Rae
Bareili,
U.P.)
Akauni
Branch
Post office
(Lalganj
GSK, Rae
Bareili,
U.P.)
Samarpah
a Branch
Post office
(Lalganj
GSK, Rae
Bareili,
U.P.)
Bishunkhe
dha
Branch
Post office
Date
26.2.2010
26.2.2010
27.2.2010
27.2.2010
27.2.2010
1.03.2010
2.03.2010
3.03.2010
3.03.2010
3.03.2010
3.03.2010
3.03.2010
3.03.2010
4.03.2010
4.03.2010
104
S. No.
Name of the lead Exchange
Category
345
NABCONS
Farmers
346
NABCONS
Farmers
347
NABCONS
Farmers
348
NABCONS
Farmers
349
NABCONS
Farmers
350
NABCONS
Farmers
351
NABCONS
Farmers
352
NABCONS
Farmers
353
NABCONS
Farmers
354
NABCONS
Farmers
355
NABCONS
Farmers
356
NABCONS
Farmers
357
NABCONS
Farmers
358
NABCONS
Farmers
359
MCX-GSK
Farmers
360
MCX-GSK
Farmers
Place
(Lalganj
GSK, Rae
Bareili,
U.P.)
Beed
Maharasht
ra
Hisar
Haryana
WestTripura
South
Tripura
Mahender
garh
Haryana
Chikmaga
lur
Karnataka
Jalna
Maharasht
ra
Puri
Orissa
Sangrur
Punjab
Bathinda
Punjab
Aurangab
ad
Maharasht
ra
Hassan
Karnataka
Kottayam
Kerala
Lower
Subansiri
Arunachal
Pradesh
Kamradhd
a Branch
Post office
(Lalganj
GSK, Rae
Bareili,
U.P.)
Mahakher
a Branch
Post office
(Lalganj
GSK, Rae
Bareili,
Date
4.03.2010
4.03.2010
4.03.2010
5.3.2010
5.3.2010
5.3.2010
5.3.2010
5.3.2010
5.3.2010
5.3.2010
6.3.2010
6.3.2010
6.3.2010
6.3.2010
6.3.2010
6.3.2010
105
S. No.
Name of the lead Exchange
Category
361
MCX-GSK
Farmers
362
NABCONS
Farmers
363
364
365
366
NABARD – NCDEX
NABCONS
NABARD – NCDEX
NABCONS
Farmers
Farmers
Farmers
Farmers
367
NABCONS
Farmers
368
NABCONS
Farmers
369
370
NABCONS
MCX-GSK
Farmers
Farmers
371
MCX-GSK
Farmers
372
MCX-GSK
Farmers
373
MCX-GSK
Farmers
Place
U.P.)
APMC
Babhulgao
n
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Dharwad
Karnataka
Amravati
Theni
Yeotmal
Rewari
Haryana
Solapur
Maharasht
ra
Cuttack
Orissa
Agra UP
Dabha
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Pahur
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Rani
Amravati
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Dighi
Branch
Post
Office
Date
8.3.2010
8.3.2010
8.3.2010
8.03.2010
9.3.2010
9.3.2010
9.3.2010
9.3.2010
9.3.2010
9.3.2010
9.3.2010
10.3.2010
10.3.2010
106
S. No.
Name of the lead Exchange
Category
374
NABCONS
Farmers
375
NABCONS
Farmers
376
NABCONS
Farmers
377
NABARD – NCDEX
Farmers
378
NABCONS
Farmers
379
NABCONS
Farmers
380
NABCONS
Farmers
381
382
383
NABCONS
NABCONS
NIAM, Jaipur
Farmers
Farmers
Farmers
384
NABCONS
Farmers
385
NABCONS
Farmers
386
NABCONS
Farmers
387
NABCONS
Farmers
388
NABCONS
Farmers
389
NABCONS
Farmers
390
NABCONS
Farmers
391
392
NABCONS
NABCONS
Farmers
Farmers
393
NABCONS
Farmers
394
NIAM, Jaipur
Farmers
Place
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Ganjam
Orissa
Kannur
Kerala
Housanga
bad
M.P.
Washim
(MS)
Date
10.3.2010
10.3.2010
10.3.2010
10.3.2010
Srigangan
agar
Rajasthan
Swaimadh
opur
Rajasthan
Krishnagir
i T.N.
Jhansi UP
Unnao UP
Tuljapur,
Osmanaba
d
Maharasht
ra
Mehsana
Gujarat
Shimoga
Karnataka
Bolangir
Orissa
Nagaon,
Assam
South
Sikkim
10.3.2010
Kolasib
Mizoram
Perambalu
r
Satna MP
West
Sikkim
Ghaziabad
UP
Latur
Maharasht
ra
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.3.2010
10.03.2010
11.3.2010
11.3.2010
11.3.2010
11.3.2010
107
S. No.
Name of the lead Exchange
Category
395
NABCONS
Farmers
396
NABCONS
Farmers
397
NABCONS
Farmers
398
MCX-GSK
Farmers
399
MCX-GSK
Farmers
400
MCX-GSK
Farmers
401
MCX-GSK
Farmers
402
NABCONS
Farmers
403
NABCONS
Farmers
404
NABCONS
Farmers
Place
Date
N.Lakhim
pur,
Assam
Surat
Gujarat
Vidisha
M.P.
Pardi
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Ashthi
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Kotha
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Veni(Kasa
ba)
Branch
Post
Office
(Babhulga
on GSK,
Yavatmal,
Maharasht
ra)
Ratnagiri
Maharasht
ra
Chandrap
ur
Maharasht
ra
Bharuch
Gujarat
11.3.2010
11.3.2010
11.3.2010
11.3.2010
11.3.2010
12.3.2010
12.3.2010
12.3.2010
12.3.2010
12.3.2010
108
S. No.
405
Name of the lead Exchange
NABCONS
Category
Farmers
406
NABCONS
Farmers
407
NABCONS
Farmers
408
NABCONS
Farmers
409
NABCONS
Farmers
410
411
NABCONS
NABCONS
Farmers
Farmers
412
413
NCDEX
NIAM, Jaipur
Press
Farmers
414
NABCONS
Farmers
415
NIAM, Jaipur
Farmers
416
MCX-GSK
Farmers
417
MCX-GSK
Farmers
418
MCX-GSK
Farmers
419
MCX-GSK
Farmers
420
MITCON – PUNE
Farmers
421
MCX-GSK
Farmers
Place
Kheda
Gujarat
Rajkot
Gujarat
Jhalawar
Rajasthan
Ajmer
Rajasthan
Moradaba
d UP
Sagar MP
Kota
Rajasthan
Kolkata
Sinnar,
Nasik
Maharasht
ra
Sonitpur
Assam
Nasik
Maharasht
ra
Kudha
Branch
Post office
(Jais GSK,
RaeBareli)
Sandha
Branch
Post office
(Jais GSK,
RaeBareli)
Kasimpur
Branch
Post office
(Jais GSK,
RaeBareli)
Paraiyana
maksar
Branch
Post office
(Jais GSK,
RaeBareli)
Krishi
Vigyan
Kendra ,
Barpeta,
AAU,
Howly,
Assam
Mau
Branch
Date
12.3.2010
12.3.2010
12.3.2010
12.3.2010
12.3.2010
12.3.2010
13.3.2010
13.3.2010
13.3.2010
14.3.2010
14.3.2010
14.3.2010
14.3.2010
15.3.2010
15.3. 2010
15.3.2010
16 .3. 2010
109
S. No.
Name of the lead Exchange
Category
422
MCX-GSK
Farmers
423
NABCONS
Farmers
424
425
NABCONS
NABCONS
Farmers
Farmers
426
MCX-GSK
Farmers
427
MCX-GSK
Farmers
428
NABCONS
Farmers
429
MITCON – PUNE
Farmers
430
NIAM, Jaipur
Farmers
431
432
NABCONS
NABCONS
Farmers
Farmers
433
NABCONS
Farmers
434
MITCON – PUNE
Farmers
Place
Post office
(Nasiraba
d GSK,
Rae
Bareli)
Vinnao
Branch
Post office
(Nasiraba
d GSK,
Rae
Bareli)
Chhindwa
na
Sambalpur
Sundergar
h
Chatoh
Branch
Post office
(Nasiraba
d GSK,
Rae
Bareli)
Kunvarma
u Branch
Post office
(Nasiraba
d GSK,
Rae
Bareli)
Serchhip
Mizoram
Krishi
Vigyan
Kendra,
Jorhat,
Kaliapani,
TeokThane
Maharasht
ra
Kurnool
Coimbator
e
Birbhum
WB
Krishi
Vidhyan
Kendra,
Senapati,
Hengbung
, B.P.O.
Hengbung
Date
16 .3. 2010
16.03.2010
16.03.2010
16.03.2010
17.3.2010
17.3.2010
17.3.2010
18.3.2010
18.3.2010
18.03.2010
18.03.2010
18.03.2010
18.3.2010
110
S. No.
Name of the lead Exchange
Category
435
MITCON – PUNE
Farmers
436
MCX-GSK
Farmers
437
MCX-GSK
Farmers
438
MCX-GSK
Farmers
439
MITCON – PUNE
Farmers
440
MITCON – PUNE
Farmers
Place
P.O.
Kangpokp
i, Senapati
District,
Manipur
Krishi
Vigyan
Kendra ,
Lunglei,
Govt. of
Mizoram,
Hnathial,
Dist:
Lunglei
(Mizoram)
Pin:
796571
Kawalewa
da Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Batana
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Nawegao
kala
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Krishi
Vigyan
Kendra,
Karimganj
,
AAU,
Karimganj
Krishi
Vidhyan
Kendra,
Senapati,
Hengbung
, B.P.O.
Hengbung
P.O.
Date
18.3.2010
18.3.2010
19.3. 2010
19.3. 2010
19.3.2010
19.3.2010
111
S. No.
Name of the lead Exchange
Category
Place
Kangpokp
i, Senapati
District,
Manipur
Erode
Nagapatti
nam
Hooghly
Nizamaba
d
Krishi
Vigyan
Kendra ,
Lunglei,
Govt. of
Mizoram,
Hnathial,
Dist:
Lunglei
(Mizoram)
Mandsaur
MP
Date
441
442
NABCONS
NABCONS
Farmers
Farmers
19.03.2010
19.03.2010
443
444
NABCONS
NABCONS
Farmers
Farmers
445
MITCON – PUNE
Farmers
446
NABCONS
Farmers
447
NABCONS
Farmers
Cachar,
Assam
20.03.2010
448
MCX-GSK
Farmers
20.3. 2010
449
MCX-GSK
Farmers
450
MCX-GSK
Farmers
451
MCX-GSK
Farmers
Girola
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Kamtha
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Rawanwa
di Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Gondia
Khurd
Branch
Post
Office
(Gondia
GSK,Mah
19.03.2010
19.03.2010
20.3.2010
20.03.2010
20.3. 2010
20.3. 2010
21.3. 2010
112
S. No.
Name of the lead Exchange
Category
452
MITCON – PUNE
Farmers
453
MITCON – PUNE
Farmers
454
MITCON – PUNE
Farmers
455
MCX-GSK
Farmers
456
MCX-GSK
Farmers
457
MCX-GSK
Farmers
Place
arashtra)
Krishi
Vigyan
Kendra,
Nagaon,
AAU,
Shillongan
i, NagaonKrishi
Vidhyan
Kendra,
Bishnupur
,
Utlou,
P.O.
Nambol,
Bishnupur
District,
Manipur.
Pin795134.
Krishi
Vigyan
Kendra ,
Kohima ,
Director
of
Agricultur
e,
Govt. of
Nagaland,
Kohima.
Satona
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Banathar
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Savaiya
Hasan
Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
Date
21.3.2010
21.3.2010
21.3.2010
22.3. 2010
22.3. 2010
22.3. 2010
113
S. No.
Name of the lead Exchange
Category
458
MCX-GSK
Farmers
459
MCX-GSK
Farmers
460
MCX-GSK
Farmers
461
MITCON – PUNE
Farmers
462
MITCON – PUNE
Farmers
463
MCX, Mumbai
Farmers
464
NABCONS
Farmers
Place
U.P.
Khamari
Branch
Post
Office
(Gondia
GSK,Mah
arashtra)
Arkha
Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
U.P.
Kotra
Bahadurga
nj Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
U.P.
Krishi
Vigyan
Kendra ,
Mokokchu
ng, SARS,
P.B.
No. 23,
Dist.
Mokokchu
ng
(Nagaland
)
KVK,
Tripura
South,
Birchandr
a Manu
(ICAR)
P.O. Manpather
, South
Tripura
Santirbaza
r.
Hyderaba
d
Malda
WB
Date
23.3.2010
23.3. 2010
23.3. 2010
24.3.2010
24.3.2010
24.3.2010
25.03.2010
114
S. No.
465
Name of the lead Exchange
NABCONS
Category
Farmers
466
MITCON – PUNE
Farmers
467
UAS- Dharward
Farmers
468
MCX-GSK
Farmers
469
MCX-GSK
Farmers
470
MCX-GSK
Farmers
471
MCX-GSK
Farmers
Place
Deoghar
Jharkhand
Krishi
Vigyan
Kendra,
East
Sikkim,
ICAR,Res
earch
Complex
for
NEH
Region,
Sikkim
Centre,
Ranipool,
East
Sikkim 737135.
Bijapur
Karnataka
Akorhiya
Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
U.P.
Pattirahat
Kaithawa
Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
U.P.
Prahaladp
ur Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
U.P.
Gangauli
Branch
Post office
(Mustafab
ad GSK,
Rae
Bareli)
U.P.
Date
25.03.2010
25.3.2010
25.3.2010
25.3. 2010
25.3. 2010
26.3. 2010
26.3.2010
115
S. No.
472
Name of the lead Exchange
MCX-GSK
Category
Farmers
473
MCX-GSK
Farmers
474
NABCONS
Farmers
475
476
NABCONS
NABCONS
Farmers
Farmers
477
MITCON – PUNE
Farmers
478
MITCON – PUNE
Farmers
479
MITCON – PUNE
Farmers
Place
Salawa
Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Kheda
Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Murshidab
ad WB
Guntur
Dharbad
Jharkhand
Krishi
Vigyan
Kendra,
Kamrup,
AAU,Kahi
kuchi,
P.O. Azara,
GuwahatiDistrict –
Kamrup
(Assam)
Krishi
Vigyan
Kendra ,
Chirang,
P.O.:
Kajalgaon,
Dist.:
Chirang,
Krishi
Vigyan
Kendra ,
Dimapur,
ICAR
Research
Complex
for NEH
Region,
Jharnapani
, P.O.
Medziphe
ma,
DistDimapur
Date
26.3. 2010
26.3. 2010
26.03.2010
26.03.2010
26.03.2010
26.3.2010
26.3.2010
26.3.2010
116
S. No.
Name of the lead Exchange
Category
480
MITCON – PUNE
Farmers
481
482
NCDEX
NABCONS
Press
Farmers
483
MITCON – PUNE
Farmers
484
MITCON – PUNE
Farmers
485
MITCON – PUNE
Farmers
486
MITCON – PUNE
Farmers
Place
(Nagaland
),
Date
Krishi
Vigyan
Kendra,N
orth
Sikkim,
Mangan,
North
Sikkim737116
Lucknow
Hazaribag
Jharkhand
Krishi
Vigyan
Kendra,
Darrang,
Leneripara
,
Khajanaga
r, Ward
no.2 ,
Mangaldoi
KVK,
East Siang
P.O. –
Pasighat,
District East Siang
(Arunacha
l
Pradesh)
KVK,
RiBhoi,
ICAR
Research
Complex
for NEH
Region,
Umroi
Road,
Umiam
27.3.2010
Divyoday
a Krishi
Vigyan
Kendra,
P.O.Chebri,
Khowai,
West
Tripura.
27.3.2010
27.3.2010
27.3.2010
27.3.2010
27.3.2010
27.3.2010
117
S. No.
487
Name of the lead Exchange
MCX-GSK
Category
Farmers
488
MCX-GSK
Farmers
489
MCX-GSK
Farmers
490
MCX-GSK
Farmers
491
NCDEX
Members
492
MCX-GSK
Farmers
493
MCX-GSK
Farmers
494
MCX-GSK
Farmers
495
MCX-GSK
Farmers
Place
Jetakri
Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Kalandi
Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Moon
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Kubna
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Coimbator
e
Sothi
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Gauri
Pokhanni
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Khusahwa
li Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Mahadev
Branch
Date
27.3.2010
27.3.2010
27.3. 2010
27.3. 2010
27.3.2010
28.3. 2010
28.3. 2010
28.3. 2010
28.3. 2010
118
S. No.
Name of the lead Exchange
Category
Place
Post office
(Sardhana
GSK,
Meerut,
U.P.)
KVK,
West Garo
Hills,
ICAR
Research
Complex
for NEH
Region,
Tura,
Sangsangi
ri
P.O.
Dobasipar
a, Dist.
West
Garo Hills
Date
28.3.2010
496
MITCON – PUNE
Farmers
497
MITCON – PUNE
Farmers
KVK,Bale
k, C/o,
District
Agricultur
e Office,
Roing,
Dist.
Lower
Dibang
Valley,
28.3.2010
498
MITCON – PUNE
Farmers
Krishi
Vidhyan
Kendra,
Bishnupur
,
Utlou,
P.O.
Nambol,
Bishnupur
District,
Manipur.
28.3.2010
499
NABCONS
Farmers
Warangal
29.03.2010
500
MITCON – PUNE
Farmers
Krishi
Vigyan
Kendra ,
Nalbari,
AAU,
Sariahtoli
Dist.
29.3.2010
119
S. No.
Name of the lead Exchange
Category
501
MITCON – PUNE
Farmers
502
MCX-GSK
Farmers
503
MCX-GSK
Farmers
504
MCX-GSK
Farmers
505
MCX-GSK
Farmers
506
507
MCX, Mumbai
MCX-GSK
Farmers
Farmers
MCX-GSK
Farmers
508
Place
Nalbari,
Krishi
Vigyan
Kendra,
Dhubri,
AAU,
Bilasipara
P.O.
Bilasipara,
Assam
Bhanori
Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Bapursi
Branch
Post office
(Sardhana
GSK,
Meerut,
U.P.)
Maugarvi
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Muraini
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Warrangal
Chandapu
r Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Adhasana
Branch
Post office
(Maharjga
nj GSK,
Rae
Date
29.3.2010
29.3. 2010
29.3. 2010
29.3. 2010
29.3. 2010
29.3.2010
30.3. 2010
30.3. 2010
120
S. No.
Name of the lead Exchange
Category
509
NABCONS
Farmers
510
511
NABCONS
MITCON – PUNE
Farmers
Farmers
512
MITCON – PUNE
Farmers
513
MITCON – PUNE
Farmers
514
MITCON – PUNE
Farmers
515
MCX-GSK
Farmers
Place
Bareli)
Visakhapa
tnam
Nadia WB
Krishi
Vigyan
Kendra,
Khumtai,
Golaghat,
Assam
Krishi
Vidhyan
Kendra,
Thoubal,
Wangbal
Rice
Research
Station,
Director
of
Agricultur
e,
Govt. of
Manipur,
Imphal,
KVK, PoDeomali,
Distt.
Tirap
Arunachal
Pradesh
KVK,
South
Sikkim,
P.O.
Namthang
South
Sikkim
District,
Dusauti
Branch
Post office
(Maharjga
nj GSK,
Rae
Bareli)
Date
30.03.2010
30.03.2010
30.3.2010
30.3.2010
30.3.2010
31.3.2010
31.3. 2010
121
Annexure VII-B
Statewise Summery of Awareness Programmes conducted for Farmers / Non-farmers.
S. No.
Names of States
Farmers
Non-farmers
Total
113
14
127
1
Maharashtra
2
Andhra Pradesh
8
11
19
3
West Bengal
10
1
11
4
Uttaranchal
9
--
9
5
Punjab
10
4
14
6
Gujarat
14
5
19
7
Kerala
14
6
20
8
Tamil Nadu
7
9
16
9
Karnataka
16
6
22
10
Rajasthan
11
11
22
11
Bihar
7
--
7
12
Madhya Pradesh
21
5
26
13
Uttar Pradesh
86
8
94
14
Jharkhand
7
1
8
15
Haryana
10
1
11
16
New Delhi
--
3
3
17
Orissa
11
2
13
18
Assam
22
3
25
19
Himachal Pradesh
5
--
5
20
Nagaland
4
--
4
21
Mizoram
5
--
5
22
Meghalaya
2
--
2
23
Sikkim
6
--
6
24
Manipur
9
--
9
122
S. No.
Names of States
Farmers
Non-farmers
Total
25
Chatttisgarh
6
1
7
26
Jammu
--
1
1
27
Tripura
5
--
5
28
Arunachal Pradesh
5
--
5
423
92
515
TOTAL
123
Annexure VIII
Details of training programmes conducted during 2009-10.
S. No. Name
of
the
Institute
1
VAMNICO
M, Pune
Category
participants
2
Cooperative
personnel
Professor Heads
of
KVKs,
Researchers and
PG students of
MABM,.
Progressive
farmers
3
4
5
6
7
8
9
10
Dates
and Name of the programme
Venue of the
programme
3-5th Aug. 2009
Programme on commodity
Pune
futures
market
for
cooperatives
VAMNICO 3-5th Aug. 2009
Programme
on
sugar
M, Pune
Pune
futures trading
N.G. Ranga 18th -19th Aug. TOT
programme
on
Univ.
2009
Commodity Futures Market
Hyderabad
Hyderabad
for
Agricultural
Universities
N.G. Ranga
Univ.
Hyderabad
TOPIC,
Gurgaon
VAMNICO
M, Pune
20th August, 2010
Hyderabad
20-21st Aug. 09
Gurgaon
14-16th
Sept.
2009
Panaji, Goa
IICM, Navi 18-19th
Sept.
Mumbai
2009
Navi Mumbai.
Swami
23-24th
Sept.
Keshwa
2009
anand
Bikaner
Rajasthan
Agricultural
Bikaner
TOPIC,
24-25th Sept. 09
Gurgaon
Gurgaon
IICM, Navi 23-24th Oct. 2009
Mumbai
Navi Mumbai
11
MANAGE,
Hyderabad
26-29th Oct. 09
Hyderabad
12
CAB, Pune
3-4th Nov. 09
Pune
13
IICM, Navi 20-21st Nov.2009
Mumbai
Navi Mumbai
14
TOPIC,
Gurgaon
26-27th Nov. 09
Gurgaon
Awareness programme
Futures
trading
of
agricultural commodities
Programme on creating
excellence through strategy
and culture
Seminar on commodity
futures market
of
Cooperative
personnel
Cooperatives
Cooperative
personnel
For officers of
Central & State
Govt. officers
TOT
programme
on Faculties,
Commodity futures market scientists,
PG
students& KVK’s
Futures
trading
of Cooperatives
agricultural commodities
Seminar on commodity For officers of
futures market
Central & State
Govt. officers
Commodity Futures Market For faculty of
in
major
agricultural MANAGE,
commodities
Hyderabad
Commodity Futures Market For bankers from
and the Role of Banks
RBI,
Nationalised
banks, SBI, Axis
bank,
Kotak
Securities
Seminar on commodity For officers of
futures market
Central & State
Govt. officers
Futures
trading
of Cooperatives
agricultural commodities
124
S. No. Name
of Dates
and Name of the programme
the
Venue of the
Institute
programme
15
IIM(B)
2-3rd Dec. 09
Bangalore
16
Govt.
of
Bengal for
senior Govt.
officials
ACMART,
Kolkata-
17th Dec. 2009
Kolkata
17
18
Pondicherry
University
19
Mahatama,
Phule
Krishi
Vidypeeth,
Ahmedanag
ar
Mahatama,
Phule
Krishi
Vidypeeth,
Ahmedanag
ar
20
21
22
23
21-22nd
Dec.
2009
Kolkata
8-9th
January,
2010 FDP prog.
Pondicherry
of
Seminar on Commodity For
senior
Futures Market
officers
of
Central & State
Govt. of the rank
of
Additional
Secretary
and
Secretary
Impact
of
electronic Senior
Govt.
Exchanges on reforms in officials of Govt.
Agricultural Marketing
of West Bengal
Commodity Futures trading
of
Agricultural
Commodities
On commodity derivatives
for
bankers/policy
makers/traders/faculty/ware
housing companies and
farmers
20-21st January, Commodity futures market
2010
for faculty of Agricultural
Rahuri,
Universities
Ahmednagar
CEOs and MDs
of Cooperative
Bank Personnel
For commerce,
economics and
management
faculties
Training
programme for
faculty members
and students &
KBK’s
22nd
January, Programme for extension Extension
2010
personnel
Personnel such as
Rahuri,
Regional
Ahmednagar
Extension
Centers, District
Extension
Centers
and
Krishi
Vigyan
Extension under
the jurisdiction of
MPKV, Rahuri
28-29th January,
2010
Lucknow
Indira
2-3rd February,
Gandhi
2010
Institute of Lucknow
Cooperative
Managemen
t, Lucknow
NABCON,
Lucknow
TOPIC,
Category
participants
2-3rd
TOT
programme
on For
NABARD
Commodity Futures Market officers
Commodity futures market 25
District
for banker of Cooperative Central
Sector
Cooperative
Banks (DCCBs)
of U.P. State
besides
the
officers from the
Cooperative
Department
of
the State
February, Futures
trading
of Cooperatives
125
S. No. Name
of Dates
and
the
Venue of the
Institute
programme
Gurgaon
2010
Gurgaon
24
Rajasthan,
8th
February
Regional
2010
Office
of Jaipur
NABARD
25
Assam
8-9th Feb.2010
Agricultural Jorhat
Univ. Jorhat
26
27
28
29
30
31
32
Kerala,
Regional
Office
of
NABARD
Institute of
Cooperative
Managemen
t, Jaipur
Karnataka,
Regional
Office
of
NABARD
Haryana,
Regional
Office
of
NABARD
Punjab,
Regional
Office
of
NABARD
Indira
Gandhi
Institute of
Cooperative
Managemen
t, Lucknow
VAMNICO
M, Pune
10th Feb. 2010
Trivendrum
Name of the programme
Category
participants
of
agricultural commodities
TOT
on
Commodity For officers of
Futures Market
NABARD, Jaipur
Commodity Futures Market Department
of
for faculty of Agricultural Agricultural
Universities
Economics, PG
and
MBAAgribusiness
students
of
Department
of
Agriculture,
MSC
AgriEconomics
students, KVK’s
and
Extension
personnel
officials.
TOT
on
Commodity For officers of
Futures Market
NABARD,
Trivendrum
10-11th Feb.2010
Jaipur
Commodity futures market for
officers&
for bankers of Cooperative Managers
Sector
of PACs.
11th Feb. 2010
Bangalore
TOT
on
Commodity For officers of
Futures Market
NABARD,
Banglore
15th Feb. 2010
Chandigarh
TOT
on
Commodity For officers of
Futures Market
NABARD,
Chandigarh
15th Feb. 2010
Chandigarh
TOT
on
Commodity For officers of
Futures Market
NABARD,
Chandigarh
16-17th February, Commodity futures market All 50 District
2010
for bankers of Cooperative Central
Lucknow
Sector
Cooperative
Banks (DCCBs)
of U.P. State
besides
the
officers from the
Cooperative
Department
of
the State
16-19th Feb. 2010 Strategy for competing in Cooperatives
Port
Blair the future for cooperative
personnel
126
S. No. Name
of Dates
and
the
Venue of the
Institute
programme
Andaman
Nikobar
33
Tamil Nadu 17-18th February,
Agricultural 2010
University, Tiruchirapalli
Coimbatore
34
35
36
37
38
39
40
41
42
M.P.
Regional
Office
of
NABARD
Tamil Nadu
Agricultural
University,
Coimbatore
Institute of
Cooperative
Managemen
t, Jaipur
18th Feb. 2010
Bhopal
Maharashtr
a, Regional
Office
of
NABARD
Assam
Agricultural
University,
Jorhat
Tamil
Nadu,
Regional
Office
of
NABARD
Kerala
Agricultural
University,
22nd Feb. 2010
Pune
Tripura,
Regional
Office
of
NABARD
NIBM,
Pune
25th Feb. 2010
Agartala
Name of the programme
of
Faculty
Development for faculty from
programmes
at Agricultural
Tiruchirapalli
Economics,
Management,
KVKs, Scientist
and Few NGO’s
TOT on Commodity futures For officers of
market
NABARD,
Bhopal
19th
February, Awareness programme at
2010
Tiruchirapalli
Tiruchirapalli
18-19th Feb.2010
Jaipur
Category
participants
for farmers, few
Govt. officials
Commodity futures market For the BOD’s
for bankers of Cooperative /Managing
sector
Directors
of
Cooperatives
banks & PACs.
TOT on Commodity futures For officers of
market
NABARD, Pune
23-25th February, TOT on Commodity futures Farmers
2010
market
Jorhat
24th
February TOT on Commodity futures For officers of
2010
market
NABARD,
Chennai
Chennai
24th Feb. 2010
Vellanikara
Commodity futures trading For
MBA
for faculty and students of students
of
Agricultural Universities
Agribusiness
Management,
final year B.Sc.
(Agri) students &
Agricultural
officers of the
State Department
and
selected
farmers.
TOT on Commodity futures For officers of
market
NABARD,
Agartala
25th Feb. 2010 to Market structure, financing For
senior
27th Feb. 10
and risk management
officers of bank.
Pune
127
S. No. Name
of
the
Institute
43
Orissa,
Regional
Office
of
NABARD
44
Pondichery
University
45
46
47
48
49
50
51
52
53
54
RTC,
(NABARD)
Bolpur
Dates
and Name of the programme
Venue of the
programme
2nd March 2010
TOT on Commodity futures
Bhuvaneshwar
market
Category
participants
3rd March 2010
Pondicherry
Farmers
Awareness programme in
Tamil Nadu on Commodity
Futures Market
4-5th March, 2010 Commodity futures market
Puri
for bankers of Cooperative
sector
of
For officers of
NABARD,
Bhubaneswar
For
Chairpersons/Ma
naging Directors
of
cooperative
banks
Institute of 4-5th March, 2010 Commodity futures market For officers of
Cooperative Jaipur
for bankers of Cooperative cooperative
Managemen
sector
banks
t, Jaipur
Gujarat,
5th March 2010
TOT on Commodity futures For officers of
Regional
Ahmedabad
market
NABARD,
Office
of
Ahmedabad
NABARD
West
5th March 2010
TOT on Commodity futures For officers of
Bengal,
Kolkata
market
NABARD,
Regional
Kolkata
Office
of
NABARD
Assam,
5th March 2010
TOT on Commodity futures For officers of
Regional
Guwahati
market
NABARD,
Office
of
Guwahati
NABARD
Sikkim,
Regional
Office
of
NABARD
Mizoram,
Regional
Office
of
NABARD
A.P.,
Regional
Office
of
NABARD
Uttar
Pradesh,
Regional
Office
of
NABARD
Arunachal
Pradesh,
Regional
Office
of
NABARD
9th March 2010
Gangtok
TOT
on
Commodity For officers of
Futures Market
NABARD,
Gangtok
9th March 2010
Aizwal
TOT on Commodity futures For officers of
market
NABARD,
Aizwal
11th March 2010
Hyderabad
TOT on Commodity futures For officers of
market
NABARD,
Hyderabad
11th March 2010.
Lucknow
TOT on Commodity futures For officers of
market
NABARD,
Lucknow
11th March 2010
Itanagar
TOT on Commodity futures For officers of
market
NABARD,
Itanagar
128
S. No. Name
of Dates
and Name of the programme
the
Venue of the
Institute
programme
55
IIM(B)
56
Uttrakhand,
Regional
Office
of
NABARD
Tamil Nadu
Agricultural
University,
Coimbatore
57
58
59
60
61
62
63
12-13th
March,
2010
Bangalore
15th March 2010
Dehradun
Commodity futures market
for faculty of Agricultural
Universities.
TOT on Commodity futures
market
Category
participants
of
For faculty of
Agricultural
Universities.
For officers of
NABARD,
Dehradun
17-18th
March, Faculty
Development for faculty from
2010
programmes at Killikulam, Agricultural
Killikulam,
Thirunelveli
Economics,
Thirunelveli
Management,
KVKs, Scientist
and Few NGO’s
Tamil Nadu 19th March, 2010 Awareness programme at
For farmers, few
Agricultural Killikulam,
Killikulam, Thirunelveli
Govt.
University, Thirunelveli
officials
Coimbatore
Jharkhand,
19th March 2010
TOT on Commodity futures For officers of
Regional
Ranchi
market
NABARD,
Office
of
Ranchi
NABARD
ICAR
19-21st
March, TOT on Commodity futures Farmers
Research
2010
market
Complex,
Meghalaya
Meghalaya
Institute of 22-23rd March, Commodity futures market For Members of
Cooperative 2010
for bankers of Cooperative Primary
Managemen Jaipur
sector
Agricultural
t, Jaipur
Cooperative
Societies/Farmers
Clubs
st
MANAGE, 29-31
March, Commodity futures market For faculty of
Hyderabad
2010
for faculty of Agricultural Rajasthan
Hyderabad
Universities.
College
of
Agriculture and
Maharana Pratap
University
(MPUAT)
of
Agricultural
&
Technology.
Assam
29-31st
March, TOT on Commodity futures Farmers
Agricultural 2010
market
University, Jorhat
Jorhat
129
SPOT & FUTURES PRICES OF GOLD AT MCX
Rs. PER 10 GRAMS
Date
SPOT
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
4-Apr-09
5-Jun-09
5-Aug-09
5-Oct-09
15132.00
5-Dec-09
31-Mar-09
15066.00
15064.00
15043.00
15005.00
15-Apr-09
14357.00
14282.00
14287.00
14381.00
14500.00
29-Apr-09
14520.00
14503.00
14514.00
14534.00
14500.00
15-May-09
14821.00
14829.00
14829.00
14815.00
14866.00
30-May-09
14908.00
14923.00
14884.00
14892.00
14909.00
15-Jun-09
14450.00
14403.00
14407.00
14477.00
5-Feb-10
5-Apr-10
5-Jun-10
5-Aug-10
5-Oct-10
14500.00
30-Jun-09
14558.00
14451.00
14462.00
14505.00
14767.00
15-Jul-09
14668.00
14770.00
14775.00
14734.00
14700.00
14802.00
31-Jul-09
14680.00
14817.00
14818.00
14783.00
14-Aug-09
14959.00
14895.00
14905.00
14972.00
14969.00
31-Aug-09
15160.00
15125.00
15136.00
15117.00
15120.00
15-Sep-09
15765.00
15877.00
15882.00
15814.00
15881.00
30-Sep-09
15620.00
15703.00
15668.00
15666.00
15636.00
15-Oct-09
15817.00
15729.00
15743.00
15827.00
15797.00
31-Oct-09
15965.00
15957.00
15985.00
16061.00
16110.00
14-Nov-09
16823.00
16800.00
16848.00
16861.00
16830.00
30-Nov-09
17650.00
17614.00
17718.00
17757.00
17690.00
15-Dec-09
16930.00
17041.00
17065.00
17088.00
17189.00
31-Dec-09
16705.00
16686.00
16748.00
16797.00
16783.00
15-Jan-10
16785.00
16838.00
16899.00
16958.00
17006.00
30-Jan-10
16230.00
16200.00
16317.00
16376.00
16432.00
15-Feb-10
16535.00
16605.00
16677.00
16712.00
16720.00
27-Feb-10
16789.00
16789.00
16866.00
16935.00
16968.00
15-Mar-10
16490.00
16538.00
16628.00
16690.00
16739.00
31-Mar-10
16300.00
16295.00
16436.00
16527.00
16592.00
130
SPOT & FUTURES PRICES OF CRUDE OIL AT MCX
Rs. PER Barrel
Date
SPOT
Apr-09
May-09
Jun-09
Jul-09
Aug-09
31-Mar-09
2473.00
2481.00
2579.00
2651.00
2726.00
2798.00
15-Apr-09
2464.00
2460.00
2588.00
2707.00
2797.00
2898.00
29-Apr-09
2518.00
2555.00
2621.00
2682.00
2740.00
15-May-09
2921.00
2812.00
2853.00
2898.00
2949.00
30-May-09
3136.00
3124.00
3171.00
3205.00
3235.00
3299.00
3076.00
15-Jun-09
3415.00
3358.00
3400.00
3442.00
3462.00
3512.00
3584.00
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
30-Jun-09
3446.00
3344.00
3396.00
3446.00
3508.00
3599.00
15-Jul-09
2907.00
3007.00
3059.00
3122.00
3148.00
3201.00
3309.00
31-Jul-09
3246.00
3271.00
3364.00
3434.00
3451.00
3557.00
3500.00
14-Aug-09
3395.00
3264.00
3382.00
3456.00
3522.00
3551.00
3672.00
31-Aug-09
3555.00
3431.00
3472.00
3515.00
3579.00
3639.00
15-Sep-09
3353.00
3433.00
3459.00
3492.00
3481.00
3500.00
3561.00
30-Sep-09
3205.00
3337.00
3361.00
3392.00
3389.00
3399.00
15-Oct-09
3470.00
3554.00
3578.00
3597.00
3571.00
3605.00
3665.00
31-Oct-09
3616.00
3638.00
3672.00
3699.00
3831.00
3850.00
3830.00
14-Nov-09
3550.00
3550.00
3592.00
3628.00
3661.00
3685.00
3744.00
30-Nov-09
3560.00
3550.00
3613.00
3664.00
3701.00
3705.00
15-Dec-09
3243.00
3297.00
3408.00
3477.00
3532.00
3690.00
3628.00
31-Dec-09
3705.00
3727.00
3759.00
3787.00
3809.00
3849.00
3887.00
15-Jan-10
3611.00
3592.00
3621.00
3667.00
3708.00
3735.00
3773.00
Jul-10
Aug-10
Sep-10
3591.00
3625.00
3351.00
3750.00
30-Jan-10
3380.00
3378.00
3408.00
3439.00
3467.00
3590.00
15-Feb-10
3444.00
3432.00
3461.00
3494.00
3537.00
3533.00
3585.00
3580.00
27-Feb-10
3683.00
3669.00
3690.00
3721.00
3737.00
3785.00
3780.00
15-Mar-10
3692.00
3645.00
3664.00
3684.00
3729.00
3811.00
3773.00
31-Mar-10
3702.00
3751.00
3769.00
3787.00
3814.00
3822.00
3829
131
SPOT & FUTURES PRICES OF SILVER AT MCX
Rs. PER KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
31-Mar-09
21890.00
15-Apr-09
21253.00
21093.00
21315.00
21518.00
21728.00
29-Apr-09
20884.00
21319.00
21132.00
21256.00
21719.00
15-May-09
22365.00
22714.00
22767.00
22985.00
30-May-09
23509.00
24195.00
24197.00
24283.00
15-Jun-09
22636.00
22524.00
22645.00
23126.00
23400.00
30-Jun-09
22357.00
21768.00
21924.00
22066.00
22583.00
15-Jul-09
21700.00
21858.00
21979.00
21785.00
22275.00
31-Jul-09
22155.00
22468.00
22609.00
22750.00
22760.00
14-Aug-09
23646.00
23714.00
23828.00
24290.00
24186.00
31-Aug-09
23575.00
23822.00
24245.00
24404.00
24479.00
15-Sep-09
25945.00
27273.00
27458.00
27039.00
27200.00
5-May-09
4-Jul-09
5-Sep-09
5-Dec-09
21855.00
22061.00
21938.00
22508.00
5-Mar-10
5-May-10
5-Jul-10
4-Sep-10
4-Dec-10
30-Sep-09
26040.00
26486.00
26677.00
26733.00
26630.00
15-Oct-09
26955.00
26743.00
26917.00
27514.00
27670.00
31-Oct-09
25999.00
25933.00
26152.00
26301.00
26322.00
14-Nov-09
27010.00
26988.00
27201.00
27265.00
27283.00
30-Nov-09
28250.00
28300.00
28439.00
28554.00
28439.00
15-Dec-09
27070.00
27318.00
27479.00
27527.00
27722.00
31-Dec-09
26870.00
26771.00
26936.00
27150.00
27300.00
15-Jan-10
28005.00
28249.00
28440.00
28612.00
28822.00
30-Jan-10
25500.00
25500.00
25744.00
25924.00
26067.00
15-Feb-10
24480.00
24529.00
24748.00
24935.00
24976.00
27-Feb-10
25839.00
25767.00
26114.00
26326.00
26610.00
15-Mar-10
26635.00
26751.00
26948.00
27029.00
27238.00
31-Mar-10
26875.00
26935.00
27141.00
27346.00
27506.00
132
SPOT & FUTURES PRICES OF COPPER AT MCX
Rs. PER KG
Date
SPOT
31-Mar-09
15-Apr-09
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
30-Apr-09
30-Jun-09
31-Aug-09
30-Nov-09
26-Feb-10
30-Apr-10
30-Jun-10
31-Aug-10
198.85
207.10
209.75
210.40
232.50
240.90
243.30
245.35
29-Apr-09
213.05
222.55
221.85
223.85
15-May-09
222.70
221.70
223.65
30-May-09
229.10
229.20
231.10
232.85
15-Jun-09
248.10
241.80
244.00
246.20
30-Jun-09
245.75
238.30
242.40
244.50
15-Jul-09
247.55
255.65
258.10
31-Jul-09
274.10
276.30
278.10
14-Aug-09
309.25
301.70
303.65
305.35
31-Aug-09
314.90
302.60
307.15
309.00
15-Sep-09
301.10
306.25
308.15
30-Sep-09
289.05
297.10
298.90
15-Oct-09
289.45
290.85
292.75
31-Oct-09
306.00
307.95
310.20
14-Nov-09
304.70
303.95
307.40
309.10
30-Nov-09
319.25
322.65
325.40
327.20
15-Dec-09
324.25
323.45
325.55
31-Dec-09
344.60
344.00
346.10
15-Jan-10
339.65
340.25
342.45
30-Jan-10
312.05
311.45
314.00
316.95
15-Feb-10
315.75
317.70
320.05
321.35
27-Feb-10
333.10
334.50
336.30
15-Mar-10
338.70
334.35
336.00
337.20
31-Mar-10
353.05
351.35
352.45
354.00
224.90
344.25
133
SPOT & FUTURES PRICES OF N GAS AT MCX
Rs. PER mmBtu
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
Apr-09
May-09
Jun-09
31-Mar-09
191.00
190.90
199.80
207.70
15-Apr-09
183.90
183.50
191.50
199.20
29-Apr-09
173.50
173.90
181.90
191.60
15-May-09
213.90
205.20
212.20
220.20
30-May-09
181.40
184.80
192.00
198.00
15-Jun-09
182.90
197.30
207.80
217.20
Jul-09
Aug-09
Sep-09
30-Jun-09
190.10
186.00
194.90
207.50
15-Jul-09
167.50
159.90
168.90
182.20
Oct-09
Nov-09
Dec-09
31-Jul-09
181.50
174.60
188.10
221.70
14-Aug-09
160.60
160.10
180.20
220.20
31-Aug-09
148.20
147.50
197.90
15-Sep-09
160.60
167.30
213.50
243.60
30-Sep-09
234.20
231.00
270.40
284.60
15-Oct-09
204.80
207.70
250.40
265.20
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
238.00
31-Oct-09
236.90
238.00
254.50
14-Nov-09
204.20
203.40
223.00
258.00
229.00
30-Nov-09
243.00
226.10
231.40
15-Dec-09
248.80
255.30
257.80
259.40
31-Dec-09
266.80
259.50
258.70
15-Jan-10
254.10
261.90
261.80
260.10
30-Jan-10
237.90
239.60
239.90
242.20
15-Feb-10
254.00
254.20
253.70
255.80
234.20
258.80
27-Feb-10
222.50
220.90
224.10
15-Mar-10
200.00
202.50
206.10
228.60
209.60
31-Mar-10
178.50
177.60
182.00
186.40
134
SPOT & FUTURES PRICES OF NICKEL AT MCX
Rs. PER KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
31-Mar-09
30-Apr-09
29-May-09
30-Jun-09
31-Jul-09
Date
SPOT
31-Mar-09
479.10
15-Apr-09
29-Apr-09
15-May-09
608.40
30-May-09
650.90
657.50
662.00
15-Jun-09
720.90
705.00
710.90
30-Jun-09
766.20
766.20
741.00
743.90
15-Jul-09
773.60
772.50
776.40
31-Jul-09
849.40
849.40
853.60
856.80
14-Aug-09
1001.70
942.90
947.30
989.90
31-Aug-09
957.50
929.20
932.50
15-Sep-09
812.20
827.30
831.00
828.40
30-Sep-09
832.70
832.70
854.40
859.40
15-Oct-09
834.30
866.80
871.80
867.80
31-Oct-09
867.00
861.70
865.80
14-Nov-09
752.50
752.60
756.60
30-Nov-09
745.00
745.00
762.20
767.20
15-Dec-09
780.20
790.70
795.50
800.30
31-Dec-09
862.50
862.50
878.50
882.90
15-Jan-10
836.30
856.10
861.50
30-Jan-10
868.40
859.70
865.20
15-Feb-10
881.10
893.90
897.40
901.00
27-Feb-10
947.40
971.60
975.50
15-Mar-10
970.60
983.50
987.10
992.10
31-Mar-10
1125.70
1125.20
1121.20
1122.20
479.10
501.10
508.70
617.30
612.20
620.50
556.80
565.60
566.90
572.10
610.10
614.00
28-Aug-09
30-Sep-09
30-Oct-09
30-Nov-09
31-Dec-09
29-Jan-10
26-Feb-10
31-Mar-10
30-Apr-10
28-May-10
624.40
624.60
726.90
781.30
762.30
849.80
980.00
135
SPOT & FUTURES PRICES OF ZINC AT MCX
Rs. PER KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
31-Mar-09
66.25
15-Apr-09
29-Apr-09
15-May-09
72.35
30-May-09
71.35
72.90
73.55
15-Jun-09
76.75
74.25
75.25
30-Jun-09
74.40
74.40
74.45
75.35
15-Jul-09
73.90
73.95
74.70
31-Jul-09
84.15
84.15
83.00
83.70
14-Aug-09
90.45
87.45
88.35
89.95
31-Aug-09
88.80
90.00
90.70
15-Sep-09
88.70
90.35
91.15
90.95
30-Sep-09
91.90
91.90
92.95
93.70
15-Oct-09
90.20
31-Oct-09
103.05
31-Mar-09
30-Apr-09
29-May-09
66.25
66.70
67.25
30-Jun-09
72.25
74.30
75.35
75.45
68.40
69.05
70.25
71.15
72.65
73.35
31-Jul-09
28-Aug-09
30-Sep-09
30-Oct-09
30-Nov-09
31-Dec-09
29-Jan-10
26-Feb-10
31-Mar-10
30-Apr-10
28-May-10
74.60
76.95
75.30
93.15
93.90
93.45
101.85
102.45
14-Nov-09
99.30
100.60
101.25
101.85
30-Nov-09
103.50
103.50
106.40
106.90
15-Dec-09
106.15
107.85
108.50
108.50
31-Dec-09
119.95
119.95
118.30
118.45
15-Jan-10
111.45
112.25
113.10
30-Jan-10
98.40
97.75
98.40
15-Feb-10
101.20
101.80
102.50
102.45
27-Feb-10
99.75
101.05
101.70
102.2
15-Mar-10
102.75
103.30
104.00
104.55
31-Mar-10
106.50
106.45
105.90
106.5
113.60
136
SPOT & FUTURES PRICES OF GUAR SEED AT NCDEX
Rs. PER 100 KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
31-Mar-09
1622.10
1622.00
1648.00
1672.00
1693.00
1724.00
1719.00
15-Apr-09
1786.40
1816.00
1845.00
1871.00
1900.00
1910.00
1973.00
29-Apr-09
1794.35
1819.00
1853.00
1883.00
1913.00
1931.00
1962.00
15-May-09
1794.50
1767.00
1798.00
1826.00
1861.00
1900.00
1978.00
1978.00
30-May-09
1750.15
1711.00
1740.00
1767.00
1796.00
1845.00
1816.00
15-Jun-09
1765.10
1751.00
1778.00
1806.00
1835.00
1855.00
1936.00
1974.00
30-Jun-09
1786.45
1813.00
1845.00
1877.00
1905.00
1936.00
1999.00
15-Jul-09
1924.80
1937.00
1976.00
2010.00
2032.00
2085.00
2120.00
31-Jul-09
2059.85
2123.00
2174.00
2220.00
2243.00
2284.00
14-Aug-09
2158.35
2231.00
2278.00
2320.00
2349.00
31-Aug-09
2070.50
2074.00
2115.00
2153.00
15-Sep-09
2081.80
2035.00
2065.00
30-Sep-09
2177.35
15-Oct-09
2287.15
31-Oct-09
2479.80
14-Nov-09
2604.30
30-Nov-09
2724.90
15-Dec-09
2658.00
31-Dec-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
2401.00
2452.00
2505.00
2196.00
2231.00
2261.00
2097.00
2127.00
2189.00
2193.00
2250.00
2227.00
2268.00
2304.00
2300.00
2380.00
2350.00
2306.00
2350.00
2386.00
2426.00
2470.00
2495.00
2527.00
2487.00
2534.00
2574.00
2600.00
2640.00
2656.00
2618.00
2662.00
2710.00
2763.00
2810.00
2840.00
2920.00
2825.00
2874.00
2911.00
2929.00
2991.00
3000.00
2668.00
2690.00
2727.00
2767.00
2840.00
2849.00
2730.50
2792.00
2833.00
2869.00
2903.00
2890.00
2946.00
15-Jan-10
2528.45
2523.00
2556.00
2586.00
2609.00
2654.00
2678.00
2717.00
30-Jan-10
2378.25
2346.00
2377.00
2408.00
2454.00
2470.00
2501.00
15-Feb-10
2491.95
2481.00
2515.00
2544.00
2578.00
2615.00
2620.00
2687.00
27-Feb-10
2377.30
2350.00
2377.00
2408.00
2438.00
2437.00
2481.00
15-Mar-10
2266.90
2221.00
2241.00
2261.00
2289.00
2350.00
2350.00
2350.00
31-Mar-10
2302.45
2301.00
2327.00
2352.00
2366.00
2410.00
2426.00
1997.00
2879.00
137
SPOT & FUTURES PRICES OF SOY OIL AT NCDEX
Rs. PER 10 KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
31-Mar-09
15-Apr-09
29-Apr-09
20-Jul09
20-Apr-09
20-May-09
19-Jun-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
19-Feb-10
19-Mar-10
20-Apr-10
20-May-10
18-Jun-10
448.30
446.00
442.95
440.05
497.85
492.75
491.80
488.55
490.40
493.30
494.25
491.00
490.30
15-May-09
498.25
499.10
506.15
509.85
30-May-09
483.00
487.70
494.15
496.15
15-Jun-09
472.75
474.05
484.80
489.20
491.40
30-Jun-09
470.60
477.75
483.95
487.90
15-Jul-09
456.55
457.80
460.35
460.35
31-Jul-09
444.50
452.55
456.20
452.10
14-Aug-09
479.05
478.05
486.90
486.20
484.60
31-Aug-09
450.90
454.20
458.45
456.15
15-Sep-09
423.75
422.75
427.00
421.70
30-Sep-09
429.65
434.65
432.55
435.25
15-Oct-09
434.45
434.30
434.00
436.65
443.90
31-Oct-09
443.70
451.00
456.95
462.20
14-Nov-09
447.40
456.60
467.80
472.80
479.55
30-Nov-09
499.35
501.40
505.70
509.35
15-Dec-09
480.55
485.55
487.45
489.70
491.75
31-Dec-09
483.00
487.85
491.90
494.55
15-Jan-10
468.05
467.55
469.40
470.20
472.05
30-Jan-10
445.75
445.85
448.15
449.65
15-Feb-10
456.00
457.65
460.35
462.25
465.20
27-Feb-10
455.70
462.35
465.30
467.40
15-Mar-10
451.00
452.90
456.65
459.40
460.15
31-Mar-10
450.60
449.95
449.60
450.60
513.95
458.10
424.10
138
SPOT & FUTURES PRICES OF CHANA AT NCDEX
Rs. PER 100 KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
Apr-09
May-09
Jun-09
Jul-09
Aug-09
31-Mar-09
2114.75
2192.00
2235.00
2276.00
2313.00
2353.00
15-Apr-09
2225.00
2291.00
2359.00
2416.00
2482.00
2516.00
29-Apr-09
2250.00
2329.00
2388.00
2459.00
2515.00
2575.00
15-May-09
2214.50
2213.00
2287.00
2364.00
2428.00
2489.00
30-May-09
2141.65
2138.00
2216.00
2282.00
2335.00
2398.00
15-Jun-09
2125.00
2064.00
2150.00
2220.00
2283.00
2332.00
30-Jun-09
2202.75
2173.00
2248.00
2311.00
2359.00
2401.00
15-Jul-09
2483.55
2384.00
2469.00
2534.00
2588.00
2630.00
2723.00
31-Jul-09
2350.00
2421.00
2502.00
2562.00
2583.00
2629.00
14-Aug-09
2330.55
2219.00
2400.00
2521.00
2585.00
2631.00
2656.00
31-Aug-09
2250.00
2205.00
2341.00
2429.00
2491.00
2525.00
15-Sep-09
2300.00
2149.00
2280.00
2364.00
2430.00
2448.00
2355.00
30-Sep-09
2250.00
2305.00
2369.00
2411.00
2441.00
2381.00
15-Oct-09
2289.50
2276.00
2362.00
2409.00
2445.00
2416.00
2435.00
31-Oct-09
2411.20
2527.00
2630.00
2722.00
2775.00
2826.00
14-Nov-09
2425.00
2448.00
2578.00
2690.00
2738.00
2781.00
2824.00
30-Nov-09
2487.90
2638.00
2765.00
2845.00
2905.00
2960.00
15-Dec-09
2450.00
2434.00
2537.00
2625.00
2695.00
2759.00
31-Dec-09
2433.10
2474.00
2551.00
2604.00
2657.00
2726.00
15-Jan-10
2373.00
2339.00
2440.00
2512.00
2566.00
2628.00
2671.00
30-Jan-10
2250.00
2185.00
2249.00
2301.00
2361.00
2424.00
15-Feb-10
2300.00
2218.00
2278.00
2338.00
2405.00
2469.00
2550.00
27-Feb-10
2171.25
2158.00
2221.00
2278.00
2332.00
2391.00
15-Mar-10
2180.00
2149.00
2225.00
2293.00
2349.00
2410.00
2464.00
31-Mar-10
2259.55
2289.00
2377.00
2456.00
2517.00
2562.00
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
2607.00
2531.00
2383.00
2831.00
139
SPOT & FUTURES PRICES OF SOY BEAN AT NCDEX
Rs. PER 100 KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
Apr-09
May-09
Jun-09
Jul-09
Aug-09
31-Mar-09
2337.00
2341.50
2335.50
2327.50
2325.50
2320.00
15-Apr-09
2558.00
2591.00
2650.00
2662.00
2649.50
2642.00
29-Apr-09
2619.00
2621.00
2649.00
2654.00
2631.50
2510.00
15-May-09
2695.00
2700.50
2725.00
2738.00
2705.00
2553.50
30-May-09
2567.00
2594.50
2616.50
2615.50
2504.00
2271.00
15-Jun-09
2515.00
2520.50
2585.50
2625.50
2605.50
2326.50
30-Jun-09
2467.00
2474.50
2510.50
2506.00
2278.00
2225.00
15-Jul-09
2235.00
2252.50
2303.00
2334.00
2299.50
2221.00
2227.00
31-Jul-09
2206.00
2235.50
2282.00
2205.50
2163.50
2179.00
14-Aug-09
2337.00
2316.00
2358.50
2288.00
2261.00
2284.50
2326.00
31-Aug-09
2248.00
2249.50
2141.00
2118.00
2149.50
2192.00
15-Sep-09
1976.00
1969.00
1947.50
1936.50
1971.00
2013.00
2040.50
30-Sep-09
2000.00
2032.50
2018.00
2047.00
2073.00
2096.50
15-Oct-09
2058.00
2069.00
2074.50
2104.50
2161.00
2177.50
2192.00
31-Oct-09
2152.00
2230.00
2271.00
2344.50
2359.50
2374.00
14-Nov-09
2241.00
2261.50
2294.00
2343.50
2351.50
2363.50
2388.00
30-Nov-09
2404.00
2441.00
2516.00
2529.00
2533.00
2538.50
15-Dec-09
2360.00
2358.00
2432.50
2476.50
2488.00
2489.50
2489.00
31-Dec-09
2352.00
2383.50
2403.50
2392.50
2387.50
2393.00
15-Jan-10
2195.00
2213.00
2233.50
2231.00
2225.00
2225.50
2226.00
30-Jan-10
2052.00
2069.50
2052.00
2050.50
2051.50
2054.00
15-Feb-10
2167.00
2198.50
2138.50
2107.00
2098.50
2098.50
2091.00
27-Feb-10
2072.00
2085.00
2045.00
2034.00
2029.50
2009.50
15-Mar-10
1985.00
2023.00
1941.50
1899.50
1884.00
1855.50
1857.00
31-Mar-10
2029.00
2038.00
1993.00
1951.00
1917.50
1907.00
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
2659.00
2270.00
2266.00
140
SPOT & FUTURES PRICES OF R/M SEED AT NCDEX
Rs. PER 20 KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
20-May-09
19-Jun-09
20-Jul-09
31-Mar-09
454.15
459.60
467.05
474.90
15-Apr-09
520.30
517.35
523.05
530.40
535.85
29-Apr-09
510.20
520.60
528.30
533.80
540.45
15-May-09
521.00
529.50
533.60
540.50
547.55
30-May-09
514.05
526.60
532.55
539.05
545.45
15-Jun-09
511.70
521.35
528.50
535.05
541.05
30-Jun-09
520.00
533.85
540.55
546.55
553.20
15-Jul-09
532.05
533.60
537.45
541.00
545.40
552.25
31-Jul-09
523.95
530.35
532.40
534.10
537.15
14-Aug-09
546.40
550.40
559.15
564.35
568.45
567.40
31-Aug-09
534.65
541.05
546.20
549.85
553.05
15-Sep-09
520.95
533.05
525.45
518.20
510.30
30-Sep-09
528.00
544.00
542.30
538.45
528.45
15-Oct-09
544.95
558.60
547.65
539.75
533.20
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Jan-10
20-Apr-10
20-May-10
18-Jun-10
20-Jul-10
556.00
547.00
504.15
31-Oct-09
567.95
594.05
587.15
580.55
14-Nov-09
586.65
593.25
594.55
592.60
540.25
535.65
542.10
30-Nov-09
603.25
617.80
627.10
586.30
595.75
15-Dec-09
619.95
616.35
627.00
567.20
576.75
583.85
31-Dec-09
594.00
606.90
570.95
578.70
584.30
15-Jan-10
591.75
593.65
539.85
546.95
554.20
563.85
30-Jan-10
498.10
474.95
479.55
483.65
488.95
15-Feb-10
521.05
487.95
493.85
499.15
504.15
27-Feb-10
488.70
476.50
481.95
488.30
494.60
15-Mar-10
485.50
474.80
479.85
484.40
488.45
31-Mar-10
504.95
505.35
504.40
509.75
513.25
141
SPOT & FUTURES PRICES OF TURMERIC AT NCDEX
Rs. PER 100 KG
Date
SPOT
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
20-Apr-09
20-May-09
19-Jun-09
31-Mar-09
4711.65
5226.00
5399.00
5539.00
20-Jul-09
20-Aug-09
18-Sep-09
20-Oct-09
20-Nov-09
18-Dec-09
20-Apr-10
20-May-10
18-Jun-10
15-Apr-09
5367.05
5491.00
5639.00
5739.00
5840.00
29-Apr-09
5134.25
5200.00
5297.00
5374.00
15-May-09
5446.10
5357.00
5452.00
5572.00
30-May-09
5174.80
4875.00
4926.00
4979.00
15-Jun-09
5377.85
5369.00
5433.00
5444.00
30-Jun-09
5357.50
5246.00
5186.00
5167.00
15-Jul-09
5727.85
5484.00
5511.00
5484.00
5422.00
31-Jul-09
6971.10
6433.00
6249.00
6209.00
14-Aug-09
8369.05
7656.00
7340.00
7229.00
7256.00
31-Aug-09
7953.85
7669.00
7381.00
7133.00
15-Sep-09
8103.70
8217.00
7472.00
7257.00
30-Sep-09
8068.25
7836.00
7437.00
7173.00
15-Oct-09
9464.00
9096.00
8814.00
8642.00
31-Oct-09
10806.40
10736.00
9954.00
7320.00
14-Nov-09
12578.35
12916.00
11100.00
7014.00
7067.00
30-Nov-09
11159.05
10676.00
7606.00
7498.00
15-Dec-09
10621.30
10539.00
6999.00
7028.00
7020.00
31-Dec-09
10670.05
7395.00
7410.00
7490.00
15-Jan-10
10445.25
7284.00
7343.00
7425.00
30-Jan-10
10748.40
6975.00
7076.00
7249.00
15-Feb-10
9824.45
7151.00
7180.00
7410.00
27-Feb-10
8834.75
7586.00
7680.00
7717.00
15-Mar-10
9640.20
10034.00
10005.00
9977.00
31-Mar-10
11293.20
10932.00
10794.00
10759.00
5671.00
5418.00
7092.00
7035.00
142
SPOT & FUTURES PRICES OF JEERA AT NCDEX
Rs. PER 100 KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
May-09
Jun-09
Jul-09
31-Mar-09
11542.40
12123.00
12299.00
12480.00
15-Apr-09
12219.55
12964.00
13153.00
13325.00
29-Apr-09
12050.00
12191.00
12344.00
12434.00
15-May-09
11800.00
11488.00
11683.00
11862.00
30-May-09
11298.70
10543.00
10681.00
10803.00
15-Jun-09
11277.65
10769.00
10923.00
11060.00
30-Jun-09
11246.00
10779.00
10917.00
11060.00
15-Jul-09
11480.00
11288.00
11484.00
11600.00
11715.00
31-Jul-09
11578.55
11894.00
11997.00
12021.00
14-Aug-09
11826.65
11374.00
11774.00
12014.00
12182.00
31-Aug-09
11619.75
11187.00
11383.00
11590.00
15-Sep-09
11326.00
10651.00
10682.00
10739.00
30-Sep-09
11430.00
11538.00
11536.00
11566.00
15-Oct-09
11718.35
11830.00
11877.00
12189.00
31-Oct-09
12359.10
12789.00
13011.00
13121.00
14-Nov-09
13204.15
13449.00
13950.00
14212.00
14252.00
30-Nov-09
14248.35
16531.00
16888.00
16929.00
15-Dec-09
14262.15
14005.00
14299.00
14510.00
31-Dec-09
14578.60
14646.00
14919.00
15028.00
15-Jan-10
13384.80
12586.00
12859.00
13130.00
13465.00
30-Jan-10
12239.55
11849.00
12028.00
12279.00
15-Feb-10
11879.00
11322.00
11527.00
11947.00
12131.00
27-Feb-10
11641.20
11468.00
11680.00
11925.00
15-Mar-10
11676.30
10834.00
11537.00
11832.00
12100.00
31-Mar-10
11882.15
11199.00
11470.00
11765.00
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
12070.00
11049.00
10875.00
14562.00
143
Spot & Future prices of Rape/Mustard seed at NMCE.,Ahmedabad.
Price - In 20 Kg
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
410.00
410.00
456.00
450.00
462.00
456.00
453.00
451.00
459.00
450.00
470.00
465.00
448.00
456.00
459.00
465.00
493.00
510.00
507.00
495.00
475.00
420.00
453.00
442.00
444.00
460.00
Apr-09
411.70
415.00
456.00
May-09
418.20
422.30
460.00
464.00
462.00
Jun-09
426.30
430.00
468.00
472.00
479.00
469.00
453.00
Jul-09
432.60
437.00
476.00
479.00
486.00
475.00
465.00
462.40
459.00
Aug-09
487.00
493.00
489.00
472.00
469.20
468.00
456.50
470.00
Sep-09
488.00
480.00
477.00
475.00
458.60
485.00
476.00
448.00
Oct-09
485.00
481.00
461.20
491.00
481.00
449.00
468.00
459.00
Nov-09
465.70
497.00
486.00
443.00
467.00
469.00
492.00
493.00
Dec-09
491.00
441.00
465.00
463.00
491.00
508.00
522.00
507.00
Jan-10
466.00
458.00
488.00
505.00
531.00
517.00
503.00
475.00
Feb-10
481.40
504.00
520.00
504.00
497.00
464.00
414.00
453.00
Mar-10
509.00
497.00
496.00
461.00
407.00
442.00
432.00
444.00
Apr-10
May-10
Jun-10
Jul-10
490.00
450.00
401.00
419.00
423.00
433.00
462.00
405.00
424.00
430.00
439.00
463.00
438.00
445.00
468.00
470.00
144
Spot & Future prices of Sacking at NMCE.,Ahmedabad.
Price - In 100 Bags
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
2473.80
2473.80
2547.00
2626.80
2590.00
2560.30
2653.00
2826.30
2806.00
2859.50
2694.00
2640.10
2724.00
2806.30
2784.00
2793.00
2800.00
3092.30
2973.00
2972.60
2993.00
2992.50
3015.00
3092.30
3079.00
2972.60
Apr-09
2492.00
2498.00
2547.00
May-09
2540.00
2541.00
2610.00
2660.00
2590.00
Jun-09
2584.00
2582.60
2660.00
2705.00
2635.00
2580.00
2653.00
Jul-09
2647.90
2644.60
2710.00
2750.80
2690.00
2625.00
2712.00
2860.00
2806.00
Aug-09
2795.60
2730.00
2675.00
2757.00
2901.00
2848.00
2890.00
2694.00
Sep-09
2720.00
2790.00
2969.40
2906.00
2948.00
2715.00
2682.00
2724.00
Oct-09
3025.20
2963.00
3002.40
2775.00
2736.00
2801.00
2857.00
2784.00
Nov-09
3058.80
2837.00
2791.00
2849.00
2924.00
2856.00
2850.00
2800.00
Dec-09
2844.00
2905.00
2974.00
2911.00
2900.00
2848.00
3138.00
2973.00
Jan-10
3030.00
2967.00
2958.00
2906.00
3200.00
3010.00
3012.00
2993.00
Feb-10
3010.00
2962.00
3265.00
3072.00
3072.00
3048.00
3056.00
3028.50
Mar-10
3330.00
3148.90
3134.00
3108.00
3114.00
3119.00
3129.00
3079.00
Apr-10
May-10
Jun-10
Jul-10
3177.80
3160.00
3175.00
3180.00
3193.00
3130.00
3022.00
3233.00
3240.00
3270.00
3191.00
3083.00
3320.00
3253.00
3144.00
3200.00
145
Spot & Future prices of Soy oil at NMCE.,Ahmedabad.
Price - In 10 Kg
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
449.00
452.00
498.00
492.00
499.00
484.00
475.00
472.00
455.00
448.00
473.00
452.00
426.00
430.00
436.00
445.00
448.00
498.00
480.00
484.00
470.00
445.00
457.00
457.00
451.50
451.00
Apr-09
446.30
449.50
491.00
May-09
442.95
444.05
491.35
494.30
501.00
Jun-09
440.10
448.00
490.00
491.50
509.00
488.00
475.10
Jul-09
443.00
450.00
495.00
490.50
513.50
494.50
484.90
479.30
458.00
Aug-09
495.00
492.50
517.70
497.05
489.10
485.90
460.50
452.90
477.10
Sep-09
519.85
501.80
491.20
488.00
460.50
455.90
487.25
453.50
422.70
Oct-09
494.85
490.50
458.00
453.00
486.00
457.80
427.00
434.00
434.25
Nov-09
459.00
456.00
484.00
456.30
421.90
431.70
434.00
450.70
456.00
Dec-09
485.00
457.00
424.00
435.25
436.70
456.60
467.25
501.30
485.30
Jan-10
427.00
436.10
443.80
463.00
472.90
504.15
488.00
488.50
467.50
Feb-10
445.00
466.00
478.00
509.00
489.70
491.75
468.85
445.65
457.80
Mar-10
481.00
513.00
492.00
494.50
470.20
447.80
460.25
462.50
453.00
Apr-10
May-10
Jun-10
Jul-10
495.00
496.60
472.00
450.00
462.00
465.25
456.50
450.00
474.00
452.00
465.00
467.30
459.40
449.50
467.00
470.00
460.00
451.00
463.00
452.00
146
Spot & Future prices of Guarseed at NMCE.,Ahmedabad.
Price - In 100 Kg
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
1643
1638
1810
1815
1790
1725
1760
1805
1895
2050
2127
2050
2070
2130
2240
2405
2565
2680
2600
2700
2445
2340
2460
2328
2230
2278
Apr-09
1653
1647
1847
May-09
1679
1673
1881
1855
1788
Jun-09
1703
1697
1909
1887
1817
1705
1745
Jul-09
1728
1725
1938
1918
1847
1734
1774
1831
1913
Aug-09
1968
1950
1887
1764
1804
1862
1942
2086
2212
Sep-09
1917
1794
1833
1893
1972
2133
2262
2076
2062
Oct-09
1862
1925
2001
2172
2312
2115
2100
2140
2275
Nov-09
2032
2215
2360
2162
2140
2175
2317
2427
2578
Dec-09
2410
2205
2180
2210
2356
2471
2627
2751
2622
Jan-10
2243
2244
2397
2516
2678
2798
2652
2756
2452
Feb-10
2439
2561
2730
2843
2690
2797
2483
2328
2480
Mar-10
2778
2890
2725
2840
2511
2360
2510
2319
2190
Apr-10
May-10
Jun-10
Jul-10
2760
2895
2540
2387
2539
2350
2209
2281
2560
2410
2569
2380
2239
2308
2600
2410
2260
2332
2282
2355
147
Spot & Future prices of Chana at NMCE.,Ahmedabad.
Price - In 100 Kg
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
2100
2100
2225
2250
2200
2150
2138
2200
2488
2350
2331
2250
2300
2250
2288
2400
2525
2495
2450
2438
2355
2250
2288
2163
2175
2263
Apr-09
2195
2195
2292
May-09
2235
2238
2362
2330
2222
Jun-09
2295
2275
2420
2390
2293
2138
2070
Jul-09
2315
2318
2482
2460
2367
2215
2167
2174
2383
Aug-09
2355
2351
2517
2515
2430
2285
2225
2249
2466
2417
2216
Sep-09
2575
2580
2492
2325
2287
2314
2537
2500
2389
2205
2145
Oct-09
2535
2380
2338
2360
2590
2550
2520
2340
2279
2302
2276
Nov-09
2390
2400
2631
2598
2587
2430
2364
2366
2362
2528
2448
Dec-09
2725
2640
2630
2495
2428
2410
2406
2631
2575
2634
2432
Jan-10
2660
2527
2450
2442
2445
2735
2690
2763
2537
2469
2337
Feb-10
2355
2385
2418
2790
2740
2844
2626
2545
2436
2184
2222
Mar-10
2436
2785
2770
2900
2698
2605
2512
2248
2278
2157
2147
Apr-10
May-10
Jun-10
Jul-10
Aug-10
2808
2958
2760
2659
2566
2309
2336
2220
2224
2288
2832
2725
2628
2365
2401
2280
2294
2373
2671
2400
2468
2331
2350
2455
2552
2383
2410
2517
2465
2560
148
Spot & Future prices of Isabgulseed at NMCE.,Ahmedabad.
Price - In 100 Kg
Future closing prices for contract expiring on
Date
Spot
Apr-09
Jun-09
Aug-09
31-Mar-09
4712.00
4750.00
4940.00
5136.50
1-Apr-09
4712.00
4760.00
4952.00
5142.00
15-Apr-09
4846.00
4846.00
5075.00
5260.00
Oct-09
Dec-09
Feb-10
29-Apr-09
5144.00
5298.00
5488.00
5673.60
15-May-09
5394.00
5502.00
5692.00
5877.00
30-May-09
5325.00
5380.00
5570.00
5753.00
15-Jun-09
5394.00
5394.00
5600.00
5790.00
30-Jun-09
5450.00
5600.00
5825.00
6052.00
15-Jul-09
5600.00
5712.00
5937.00
6157.00
31-Jul-09
5713.00
5800.00
6032.00
6270.00
14-Aug-09
5738.00
5738.00
5970.00
6180.00
31-Aug-09
6063.00
6265.00
6514.00
6765.00
15-Sep-09
6006.00
6126.00
6351.00
6571.00
Apr-10
30-Sep-09
5975.00
6068.00
6298.00
6517.20
15-Oct-09
5975.00
5975.00
6260.00
6490.00
31-Oct-09
6163.00
6374.00
6574.00
6814.00
14-Nov-09
6213.00
6343.00
6575.00
6794.00
30-Nov-09
6425.00
6522.00
6730.00
6950.00
15-Dec-09
6692.00
6692.00
6837.00
6998.00
Jun-10
Aug-10
31-Dec-09
6644.00
6739.00
6889.00
7114.00
15-Jan-10
6388.00
6481.00
6568.00
6798.00
30-Jan-10
6125.00
6175.00
6214.00
6403.00
15-Feb-10
5489.00
5560.70
5510.00
5650.00
27-Feb-10
5038.00
5100.00
5167.00
5270.00
15-Mar-10
4838.00
4912.00
4980.00
5060.00
31-Mar-10
4588.00
4601.00
4650.00
4700.00
149
Spot & Future prices of Kilo Gold at NMCE.,Ahmedabad.
Price - In 10 GM
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
15100
15080
14330
14500
14810
14925
14450
14625
14725
14700
14975
15150
15750
15600
15820
15950
16750
17625
16940
16690
16800
16295
16535
16800
16490
16325
Apr-09
14925
15087
Jun-09
15090
15066
14310
14495
14830
14902
Aug-09
15065
15041
14370
14495
14845
14835
14400
14450
14760
14650
Oct-09
14579
14850
14860
14410
14490
14755
14850
14870
15105
15800
15610
Dec-09
14512
14642
14880
14880
15125
15808
15640
15825
15960
16790
17650
Feb-10
15090
15835
15645
15830
15970
16840
17690
17070
16680
16815
16200
Apr-10
Jun-10
Aug-10
15990
16855
17715
17075
16735
16910
16230
16560
16780
16500
16325
16795
17002
16260
16583
16855
16596
16374
16830
16760
16430
150
Spot & Future prices of Zinc at NMCE.,Ahmedabad.
Price - In 1 Kg
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
65.70
66.20
70.90
68.60
73.25
69.80
79.75
75.80
73.25
80.70
90.45
89.10
88.70
89.90
90.20
103.70
99.30
103.40
106.15
118.70
111.45
98.90
101.20
99.70
102.75
104.60
Mar-09
Apr-09
May-09
65.70
66.20
66.35
72.25
68.60
66.35
66.85
73.10
70.00
72.50
69.80
Jun-09
68.00
74.00
71.00
73.30
73.00
74.75
75.80
Jul09
74.10
73.80
75.50
73.65
73.90
80.70
Aug-09
76.20
74.45
74.70
82.95
87.90
89.10
Sep-09
74.80
83.20
88.80
89.75
89.40
89.90
Oct-09
89.45
90.15
90.45
92.50
92.65
103.70
Nov-09
90.85
93.00
93.80
101.70
100.60
102.85
Dec-09
94.90
103.00
101.30
105.65
107.40
118.70
Jan-10
102.00
106.20
108.05
118.15
112.20
98.90
Feb-10
108.25
118.25
113.00
97.85
101.35
99.70
Mar-10
Apr-10
May-10
113.75
99.00
102.05
101.05
103.30
104.60
102.90
107.70
104.00
105.75
104.30
106.35
151
Spot & Future prices of Lead at NMCE.,Ahmedabad.
Price - In 1 Kg
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
63.60
64.40
76.65
68.20
71.80
70.40
85.05
82.70
77.90
85.80
91.85
100.40
102.60
105.80
98.20
109.00
104.20
107.40
107.00
111.40
111.40
95.80
98.90
99.60
99.60
96.30
Future closing prices for contract expiring on
JulMar-09 Apr-09
May-09 Jun-09
09
63.60
65.85
64.25
63.80
64.25
65.35
75.75
77.20
77.60
68.20
66.50
67.00
72.80
72.60
72.70
70.40
74.25
75.40
79.50
79.70
82.70
80.60
78.40
85.80
Aug-09
83.20
81.60
79.10
88.00
89.65
98.35
Sep-09
80.00
89.00
89.20
102.15
103.85
105.80
Oct-09
89.80
102.20
104.05
108.20
100.90
109.00
Nov-09
104.15
107.20
101.40
107.80
104.80
107.40
Dec-09
101.80
108.00
105.00
107.80
107.95
111.40
Jan-10
105.50
108.35
108.60
112.75
112.20
95.80
Feb-10
108.80
112.90
113.05
94.10
99.90
99.60
Mar-10
Apr-10
May-10
113.80
95.00
100.80
100.15
100.65
96.30
101.35
100.90
101.65
96.65
102.15
97.70
152
Spot & Future prices of Nikel at NMCE.,Ahmedabad.
Price - In 1 Kg
Future closing prices for contract expiring on
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
484.80
495.80
585.70
561.50
615.10
644.00
730.30
765.10
769.90
811.20
1001.70
955.00
812.20
812.00
834.20
870.40
752.50
758.90
780.20
876.10
836.30
858.90
881.10
944.90
970.60
1097.40
Mar-09
484.80
Apr-09
495.00
514.00
593.00
561.50
May-09
489.60
520.00
596.00
565.80
612.50
644.00
Jun-09
525.00
600.00
573.20
616.00
656.00
710.00
765.10
Jul-09
580.10
620.20
662.00
710.00
738.80
768.00
811.20
Aug-09
626.00
666.00
716.00
745.90
772.60
847.30
942.00
955.00
Sep-09
721.00
750.00
774.10
854.00
952.80
925.00
819.50
812.00
Oct-09
777.00
860.00
976.70
929.00
822.10
850.00
863.50
870.40
Nov-09
980.00
932.00
827.80
852.10
871.00
862.00
753.50
758.90
Dec-09
830.10
840.10
878.00
868.00
756.50
756.50
789.40
876.10
Jan-10
885.00
873.00
762.00
762.00
794.10
878.80
847.60
858.90
Feb-10
765.50
766.00
799.00
882.70
854.80
859.90
880.00
944.90
Mar-10
Apr-10
May-10
804.00
885.00
863.00
864.80
884.00
971.20
976.20
1097.40
868.00
869.00
891.80
975.10
980.00
1116.30
896.30
979.00
985.00
1117.00
153
SPOT & FUTURES PRICES OF CRUDE OIL AT ICEX
Rs. PER Barrel
Date
SPOT
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
18-Dec-09
19-Jan-10
19-Feb-10
19-Mar-10
19-Apr-10
19-May-10
27-Nov-09
3552.00
3565.00
3628.00
3677.00
30-Nov-09
3537.00
3541.00
3604.00
3650.00
15-Dec-09
3248.01
3262.00
3383.00
3462.00
31-Dec-09
3701.26
3724.00
3757.00
15-Jan-10
3594.69
3593.00
3623.00
3665.00
30-Jan-10
3368.32
3378.00
3407.00
3441.00
15-Feb-10
3440.47
3434.00
3457.00
3492.00
27-Feb-10
3682.68
3669.00
3688.00
3720.00
15-Mar-10
3681.50
3640.00
3669.00
3686.00
31-Mar-10
3750.23
3752.00
3750.00
21-Jun-10
3785.00
3747.00
SPOT & FUTURES PRICES OF GOLD AT ICEX
Rs. PER 10 GRAMS
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
1-Feb-10
1-Apr-10
1-Jun-10
27-Nov-09
17677.00
18035.00
18068.00
17997.00
30-Nov-09
17678.19
17621.00
17750.00
17641.00
15-Dec-09
16942.23
17026.00
17056.00
17087.00
31-Dec-09
16708.04
16650.00
16711.00
16714.00
15-Jan-10
16788.75
16846.00
16905.00
16956.00
16199.00
2-Aug-10
30-Jan-10
16236.00
16319.00
16374.00
15-Feb-10
16533.00
16622.00
16676.00
16710.00
27-Feb-10
16797.09
16785.00
16863.00
16933.00
15-Mar-10
16509.81
16543.00
16600.00
16688.00
31-Mar-10
16301.78
16294.00
16430.00
16538.00
154
SPOT & FUTURES PRICES OF COPPER AT ICEX
Rs. PER KG
Date
SPOT
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
26-Feb-10
30-Apr-10
30-Jun-10
31-Aug-10
27-Nov-09
319.03
321.50
323.45
325.00
30-Nov-09
317.30
318.80
309.00
310.00
15-Dec-09
319.68
324.70
326.80
327.00
31-Dec-09
342.23
344.70
346.65
348.00
15-Jan-10
339.91
340.05
342.35
344.35
30-Jan-10
310.37
311.25
314.00
316.90
15-Feb-10
314.83
317.90
318.90
321.30
27-Feb-10
333.94
334.85
336.00
336.45
15-Mar-10
332.61
334.35
336.50
337.20
31-Mar-10
353.33
351.35
352.55
354.05
SPOT & FUTURES PRICES OF SILVER AT ICEX
Rs. PER KG
FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON
Date
SPOT
2-Mar-10
3-May-10
1-Jul-10
27-Nov-09
28002.00
28945.00
29090.00
28507.00
30-Nov-09
28184.00
28301.00
27260.00
28470.00
15-Dec-09
27087.83
27224.00
27382.00
27528.00
31-Dec-09
26710.99
26655.00
26831.00
27091.00
15-Jan-10
28010.22
28250.00
29408.00
28610.00
1-Sep-10
30-Jan-10
25471.88
25512.00
25743.00
25920.00
15-Feb-10
24477.07
24555.00
24746.00
23871.00
27-Feb-10
25763.38
25766.00
26097.00
26400.00
15-Mar-10
26645.42
26755.00
26947.00
27026.00
31-Mar-10
26837.55
26956.00
27140.00
27342.00
NCDEX SPOT PRICES AS REPORTED ON NCDEX PLATFORM
MCX SPOT PRICES AS REPORTED ON MCX PLATFORM
ICEX SPOT PRICES AS REPORTED ON ICEX PLATFORM
*ICEX Exchange started from 27th November 2009.
155
Spot and future prices of Soy oil at NBOT.,Indore
Price - In 10 KG
Date
31-Mar-09
1-Apr-09
15-Apr-09
29-Apr-09
15-May-09
30-May-09
15-Jun-09
30-Jun-09
15-Jul-09
31-Jul-09
14-Aug-09
31-Aug-09
15-Sep-09
30-Sep-09
15-Oct-09
31-Oct-09
14-Nov-09
30-Nov-09
15-Dec-09
31-Dec-09
15-Jan-10
30-Jan-10
15-Feb-10
27-Feb-10
15-Mar-10
31-Mar-10
Spot
449.30
452.40
490.40
490.90
499.80
484.60
476.30
474.20
456.00
445.60
473.10
451.50
420.80
430.50
434.10
442.60
446.60
497.70
482.30
483.00
468.00
445.20
456.20
455.20
451.40
451.00
Future closing prices for contract expiring on
Apr-09
May-09
Jun-09
Jul-09
Aug-09
447.10
444.20
453.20
450.80
490.40
491.80
460.00
495.40
0.00
499.80
507.40 518.00
488.00 493.50
476.30 484.30
0.00
477.00
0.00
452.60
460.50
452.20
473.10
Sep-09
455.40
488.00
456.80
420.80
Oct-09
486.60
459.60
426.20
436.00
434.10
Nov-09
0.00
437.00
433.60
449.80
446.60
Dec-09
456.40
468.60
498.00
482.30
Jan-10
506.50
486.50
484.50
470.40
Feb-10
495.20
490.50
466.70
443.40
459.10
Mar-10
448.00
458.50
459.10
452.50
Apr-10
May-10
463.50
454.00
447.80
449.30
156