Entering into an agreement with RCEP countries, with whom India is already bearing a large trade deficit could have compelled India to import more agriculture crops like Palm Oil from Malaysia & Indonesia.
Reliance Commodities had approached SAT on this issue arguing that if the clients have not been punished then even the broker cannot be punished in respect of the trading done by the clients
NCDEX, which is the market leader in agri-commodity trading has initiated preliminary discussions with merchant bankers to raise funds via an initial public offer, sources said.
In the equity segment, there is no such restriction on launching the scheme. If BSE wants to create a vibrant derivative segment, then it can start LES after regulatory approval, despite NSE already having a vibrant derivative market
The derivative market for agri commodities currently stays open between 10 am and 5 pm.
At NCDEX, coriander prices for delivery in January declined by Rs 1, or 0.02 per cent, to Rs 6,503 per quintal with an open interest of 28,460 lots.
At NCDEX, chana for delivery in December fell by Rs 11, or 0.24 per cent, to Rs 4,622 per quintal, with an open interest of 29,390 lots.
At the NCDEX, castor seed for January fell by Rs 11, or 0.07 per cent, to Rs 4,715 per quintal, with an open interest of 1,37,965 lots.
The period of recognition is from September 10, 2018 till September 9, 2019, according to the SEBI.
Kumar is an agro-industry veteran who has worked for companies like National Bulk Handling Corporation, Cargill, Reliance Industries, Arthur Andersen, ITC Ltd, Britannia and Sharp Group. He had also worked at NCDEX as chief business officer between June 2009 to September 2014.
The exchange is also keen on options trading in more agri-commodities, enthused by the results of guarseed option that was launched last week, he said.
Kumar, a former chief business officer at NCDEX, is likely to assume the office next week. The exchange's selection committee had picked his name for the MD and CEO's post from a list of 11 candidates.
The options trading in guarseed will be inaugurated by Finance Minister Arun Jaitley on the auspicious day of Hindu festival 'Makar Sankranti'.
Shah was appointed in 2013 as per the regulatory framework of erstwhile Forward Markets Commission (FMC) for three years till 2016. Later, his tenure was extended for an year till August 20, 2017.
Putting in place strict eligibility criteria, Sebi said options could be launched on futures contract of only those commodities that are among the top five in terms of total trading turnover value of previous 12 months.
SEBI also approved proposals to grant unified licence to the commodity and equity brokers and regulations for monitoring funds up to Rs 500 crore raised via initial public offerings.
Tur (pigeon peas) and urad (black gram) were banned in 2007, while chana (gram) was suspended last year after prices soared, leading to a rise in inflation.
NCDEX offers early pay-in facility to FPOs, reduces cost of hedging Deposits allowed anytime after taking sell position
The National Commodity and Derivatives Exchange (NCDEX) today said it has offered Farmer Producer Organisations (FPOs) to deposit their produce in exchange approved warehouses, immediately after taking a sell position on the exchange platform.
After the relaunch of the contract, the exchange received encouraging response from the market participants following measures taken by it in making markets safer.
According to a source in the know, the 10-member NSE Board took the decision to shut down the exchange in its meeting convened on the last week of January.
The National Commodity and Derivatives Exchange Ltd (NCDEX) today said it has decided to tighten deposit operations at warehouses audit checks to ensure quality of deposits.
The March sugar contract rose as much as 1.2 percent to 3,946 Indian rupees (USD 58.72) on the National Commodity & Derivatives Exchange Ltd (NCDEX). The contract had risen nearly 200 rupees in the last 30 days, up to Friday's close.
In an interview to CNBC-TV18‘s Manisha Gupta, Samir Shah, MD & CEO at NCDEX spoke about the wishlist prepared by the commodity bourses for the upcoming Budget.
The National Commodity and Derivatives Exchange Ltd. (NCDEX), India‘s leading commodity exchange, today announced the commencement of trading in Soybean meal futures.