1 Updates
Expert panels to study problems in future markets: Thomas
Photo Credit: MANJUNATH KIRAN, Getty Images

Expert panels to study problems in future markets: Thomas

Jan 21 2013, 11:04am CST | by

Kochi, Jan 21 (IANS) Two expert panels will soon be set up to look into the problems of futures market in pepper and cardamom and put in place an effective mechanism to ensure the quality of products traded, said union Consumer Affairs, Food and Public Distribution Minister K.V. Thomas.

Kochi, Jan 21 — Two expert panels will soon be set up to look into the problems of futures market in pepper and cardamom and put in place an effective mechanism to ensure the quality of products...

Filed under: news

Full Story below YouTube Videos

 
 

 

1 year ago

Expert panels to study problems in future markets: Thomas

Jan 21 2013, 11:04am CST | by

Kochi, Jan 21 (IANS) Two expert panels will soon be set up to look into the problems of futures market in pepper and cardamom and put in place an effective mechanism to ensure the quality of products traded, said union Consumer Affairs, Food and Public Distribution Minister K.V. Thomas.

Kochi, Jan 21 — Two expert panels will soon be set up to look into the problems of futures market in pepper and cardamom and put in place an effective mechanism to ensure the quality of products traded, said union Consumer Affairs, Food and Public Distribution Minister K.V. Thomas.

"The expert panels will look into the problem of production of pepper and cardamom, and also recommend solutions to address concerns of various stakeholders in the trading of Kerala's two major spices," said Thomas, presiding over a stakeholders' meet for rubber, pepper and cardamom participants in the futures market, organized by Mumbai-based Forward Markets Commission (FMC).

The minister made this announcement after Kerala Chief Minister Oommen Chandy raised the subject at the same meeting.

"The advisory committee set up by the government for the futures market has already provided an institutional mechanism for consultation with all the stakeholders. A number of measures for disclosure of trade related information on the website of exchanges has also brought about greater transparency in this market and promoted self-regulation," added Thomas.

The commodity futures market in India has been growing rapidly since 2003, and the total value of trade in this market has increased to Rs.129 lakh crores during April-December 2012.

This trade takes place in five national exchanges and 16 regional exchanges through over 8,000 intermediaries and 14 lakh clients.

The meet was held by FMC as part of its ongoing programme of consulting the farmers, cooperatives, traders, exporters and all other market participants of various commodities traded in futures market.

"The government is determined to ensure that futures trading is properly regulated in a fair and transparent measure. In the last one year, FMC has taken a number of measures to improve the market."

"An important measure has been introduction of staggered delivery system which provides a 15-day window to sellers to tender delivery of their produce. This has reduced unnecessary speculation in futures trading of agricultural commodities," Thomas added.

Chandy said commodities like rubber, pepper and cardamom are very important for Kerala, and provide livelihood to a large number of people.

"The producers, exporters and traders of Kerala have since long taken advantage of futures trading to discover the future price and manage price risk. However, if it is not run properly, it can cause damage through sending wrong signals.

"Therefore, it is crucial that futures trading takes place in a manner that is transparent, fair and beneficial for all the stakeholders," said Chandy.

IANS

Source: IANS

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

5 features an Amazon phone might offer
NEW YORK (AP) — Rumors of an Amazon smartphone reached a fever pitch this week, with the Wall Street Journal reporting that the device could be due out this year. Amazon hasn't confirmed that it has plans...
 
 
Why Drink Organic, Biodynamic And Sustainable Wines For Earth Day?
Six Organic Wines To Try Now Talking about organic wine is surprisingly complicated. When I set out to write this column I planned on rounding up some organic producers, tasting some wines and calling out the tastiest...
 
 
Washington's Anxiety as the President Heads to Asia
Anxiety is everywhere these days in the debate over U.S. policy toward Asia. Here in Washington, there seems to be deep anxiety about the Obama administration’s ability to fulfill its promise to rebalance to Asia. In...
 
 
'The Elder Scrolls Online' Hit With First Major Bug, The Infinite Dupe
When you make an MMO, you will eventually learn a hard lesson about how a single bug can derail your entire game. Right now, that’s exactly what’s happening with The Elder Scrolls Online. Players are rolling around in...
 
 
 

Latest from the Network

Ryan Seacrest to quit 'American Idol'?
Ryan Seacrest is reportedly planning to quit 'American Idol.' The 39-year-old star, who has hosted the US reality singing competition since its first season in 2002, wants to jump ship before the FOX series is cancelled...
Read more on Celebrity Balla
 
iOS 6 Users Facing Problems with FaceTime
The iOS 6 users are getting frustrated with the FaceTime, a popular video calling software, as it is continuing to crash in their iPhones and iPads.The users have informed the problem on a thread of Apple Support...
Read more on Apple Balla
 
Apple Offering Redesigned iPad Mini with Retina Display at 15% Discount
Apple brings a great offer for the iPad lovers, as the company decides to sell the refurbished model of iPad Mini with Retina display with a great discount of 15%.According to Apple Insider, the 16-GB model is being...
Read more on Apple Balla
 
SungardASVoice: Three Things Businesses Can Learn From The Decline Of American Idol
By Adam Wren Thirteen years into its prime-time run, “American Idol” is a brand in decline. But the kinds of things the show can do–and, in some cases, is doing–to change its fortunes can serve as an example to other...
Read more on Apple Balla
 
Justin Bieber crashed Drake Bell's party
Justin Bieber crashed Drake Bell's album party on Thursday night (04.17.14). The 20-year-old singer - who has been repeatedly attacked by the former Nickelodeon star on Twitter in recent months - went out of his way to...
Read more on Celebrity Balla
 
5 features an Amazon phone might offer
NEW YORK (AP) — Rumors of an Amazon smartphone reached a fever pitch this week, with the Wall Street Journal reporting that the device could be due out this year. Amazon hasn't confirmed that it has plans...
Read more on Business Balla
 
Asia's Week: Japan's Rebound Gets More Taxing
Another calamitous loss of human life gripped Asia’s attention this week, relegating economic matters to secondary notice, but they were also of concern. China’s growth pauses never cease to furrow brows but it is Japan...
Read more on Auto Balla
 
Why Drink Organic, Biodynamic And Sustainable Wines For Earth Day?
Six Organic Wines To Try Now Talking about organic wine is surprisingly complicated. When I set out to write this column I planned on rounding up some organic producers, tasting some wines and calling out the tastiest...
Read more on Business Balla
 
Washington's Anxiety as the President Heads to Asia
Anxiety is everywhere these days in the debate over U.S. policy toward Asia. Here in Washington, there seems to be deep anxiety about the Obama administration’s ability to fulfill its promise to rebalance to Asia. In...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla