MMTC GETS READY TO START HEDGING ON LME

Article Abstract:

Mineral and Metals Trading Corporation Ltd (MMTC) has approached the Reserve Bank of India to get guidelines for hedging nickel, zinc and tin metals on the London Metal Exchange (LME). The Corporation's move follows the government's decision to allow corporates to access global commodity markets to hedge their commodity risks by entering into different kinds of trades and option contracts. MMTC has posted a turnover of around Rs875 crore in the non-ferrous sector in 1995-96. (gs)

Comment:

Approaches Reserve Bank of India to get guidelines for hedging nickel, zinc & tin metals on the London Metal Exchange

Financial management, Mineral and Metals Trading Corporation Ltd.

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COFFEE FUTURES TRADING MAKES A START IN INDIA

Article Abstract:

Trading of domestic coffee futures contract commenced at the Coffee Futures Exchange of India Ltd from June 19, 1998. Around 32 lots were transacted. Around 15 lots of Plantation A September were traded at Rs105.50 per kg and five lots of Plantation A November were traded at Rs100 a kg. Around seven lots of Robusta Cherry AB September was transacted for Rs 69 per kg while five lots of Robusta Cherry November were transacted for Rs 70 per kg. (vv)

Comment:

Commences trading of domestic coffee futures contract from 6/19/98

Services introduction, Coffee Futures Exchange of India Ltd.

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WORLD BANK GRANT FOR BEST INDIAN COMMODITY FUTURES EXCHANGES

Article Abstract:

The Forward Markets Commission (FMC) is identifying specific commodity exchanges for offering a World Bank grant of $490,000 got from the Institutional Development Fund (IDF). The move is aimed at chalking out a plan for modernising the regulatory framework for the futures market. The grant will be used to fund consultants' services and activities such as training through workshops. (ag)

Comment:

India: Forward Markets Commission is identifying specific commodity exchanges for offering World Bank grant of $490,000

Government domestic functions

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