NEW DELHI: A study from one of India's leading industry bodies Assocham says futures trading in commodities has resulted in transparent and fair price discovery for farmers in the country.
The study says commodities market size in India will get a boost with people’s increased participation; growth projections of 30% expected upto 2010.
It said India's commodity market has expanded by 50 times in a span of five years from Rs66530 crore in 2002 to Rs3,3753,36 crore in 2007.
"It is now expected to grow at a steady speed of about 30% by 2010 and touch a volume of Rs74,156,13 crore since people’s participation in such trade would continue," said the findings from the study.
In 2003, the size of commodities trade stood at Rs129364 crore, registering an increase of over 94% which thereby went to Rs571759 crore in 2004 recording an increase of 341%. In 2005, the growth in commodities trade was by 276% as trade stood at Rs2,155,122 crore in 2005.
However, in 2006, though commodities trade increased to Rs2,739,340 crore, it could register year-on-year growth of 27% over the last year. For 2007, trade in commodities reached Rs33,753,36 crore and registered a growth of 23%.
The study said commodity futures markets are the strength of an agricultural surplus country like India. Commodity exchanges play a pivotal role in ensuring stronger growth, transparency and efficiency of the commodity futures markets. This role is defined by their functions, infrastructure capabilities, trading procedures, settlement and risk management practices.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment