business
NCDEX kicks off awareness camp in Punjab
Chandigarh | March 31, 2007 6:12:26 PM IST
The brokerage firms and commodity exchanges are determined to spread awareness among farmers on futures trading, with this agenda the Financial Markets International (FMI) and National Commodity and Derivatives Exchange (NCDEX) have launched such programmes in the state. Bharat Kissan Union (BKU) activists have supported these companies in their drive. "I do not mind future trading, provided it benefits farmers," Commodity Online quoted Shetkari Sanghatana leader and MP Sharad Joshi as saying. One major benefit of these companies' campaign is that they are ready to bear the hoarding cost as well. Top FMI and NCDEX officials addressed the farmers at the meeting. They talked about futures trading and its positive factors. NCDEX officials said farmers can use the online trading platform of NCDEX to hedge the price risk by selling forward their expected production. In January, the Centre had banned the futures trading in pulses. While on February 28, it announced that no further contracts of wheat and rice would be launched. The futures market has alleged that they have been made 'scapegoat' to show that the government is doing enough to curb inflation. (ANI)
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