With an aim to spread awareness about the plethora of benefits the commodity futures market offers to the market participants, Multi Commodity Exchange of India Ltd. (MCX) and Forward Markets Commission organised an awareness programme in association with Cuttack Management Association on April 17, 2015 at Keonjhar, Orissa.
The programme was focussed on creating an understanding of the commodity futures market among the participants, thereby enabling their inclusion. The interactive programme further highlighted upon the fundamentals of commodity trading, and benefits of hedging commodity price exposures. The experts threw light on the outlook of the commodity sector.
During the sessions, experts from MCX spoke on various aspects of commodities trading in India. They provided the exchange perspective and highlighted the importance of futures market as tool for price discovery and price risk management. They further elaborated about the standardised commodity futures contracts offered by the Exchange, which provide an efficient trading environment for ideal price discovery.
Mr. Vikas Srivastava, Joint Secretary, Cuttack Management Association said, “I feel that for the commodity value chain participants, it is a must to hedge their price risks on commodity exchanges such as MCX, owing to volatility in the prices of commodities. Since the launch of the commodity futures, the market participants have, and will continue to benefit from the overall development of the market place in the country.”
MCX and FMC should organize more such programmes in Orissa to help the participants understand in depth about the commodity futures market. Such awareness programs will go a long way in broadening and deepening India’s commodity market.