Forward Markets Commission calls stakeholders meet

Last Updated: Fri, Jan 18, 2013 13:30 hrs

Kochi, Jan 18 (IANS) The Forward Markets Commission (FMC) will hold a stakeholders' meet for rubber, pepper and cardamom participants here Monday.

FMC is a statutory body and is the chief regulator of forwards and futures markets in India.

Its mandate includes observing forward markets. It submits reports to the central government on the working of the forward markets in designated goods.

"The primary objective of the meet, being held in association with the National Commodity Exchanges, is to discuss ways and means for improving hedgers' participation in commodity futures markets, particularly in pepper, rubber and cardamom," said Ramesh Abhisekh, chairman of the Mumbai-headquartered FMC.

Among the other issues that would be coming up for discussion includes measures that would help streamline price and risk management in the commodity futures markets.

Kerala Chief Minister Oommen Chandy would deliver the keynote address while K.V. Thomas, union minister of state for consumer affairs, food and public distribution, would preside over the meeting.

"Views of the participants would provide useful inputs in taking pro-active steps to improve the hedgers' participation in commodity futures market for price risk management in agri-products", said Thomas.

The meeting would include representatives of the central and state governments, Rubber Board, Spices Board, producers' Cooperatives, Growers' Associations, members of National Commodity Exchanges, User Industries, bankers and farmers.

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