Commodities news from around the world...
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COMMODITIES news from around the world...
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Ever since the first national level commodity exchange was introduced in 2003, commodity exchanges have seen an exponential growth. In the last fiscal, the total turnover of the Indian commodity markets was approximately '112.52 trillion, an increase of more than 50% as compared to the year 2009-10.Currently, the average monthly volume on the Indian commodity exchanges is '6 trillion.Nirmal Bang expects...
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Ever since the first national level commodity exchange was introduced in India in 2003, commodity exchanges have seen an exponential growth. In the last fiscal, the total turnover of the Indian commodity markets was approximately '112.52 trillion, an increase of more than 50% as compared to the year 2009-10.Currently, the average monthly volume on the Indian commodity exchanges is '6 trillion.India's...
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clearance of Forward Contracts Regulation Act (Amendment) Bill 2010 by the Union cabinet today is a boost for the much-needed policy reforms in the Indian commodity market, MCX MD and CEO Shreekant Javalgekar said in a statement here.Javalgekar said the bill, once passed, will bring the Indian commodity trade on par with global practices.The amended FCRA will not only strengthen the Indian commodity...
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Commodities news from around the world ...
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Weakness in the Indian rupee has negative implications for Indian gold demand, said HSBC, British multinational bank, in a commodity research note.According to the British bank, following gold-positive news earlier this week that the Indian government rolled back an excise tax on the sale of gold jewelry, demand for Indian gold remained lackluster as the dollar-rupee exchange rate climbed.The dollar...
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Foreign institutional investors (FIIs) can now invest up to 23 percent in Indian commodity exchanges without government approval, the commerce and industry...
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Natural rubber prices in Indian as well as in global market dropped on lower demand in the major consuming nations like India, China.In National Multi Commodity Exchange (NMCE), for October delivery, rubber traded down at Rs 17911 per ton and in Tokyo Commodity Exchange (TOCOM), the commodity for November delivery traded down 2.1 yen to 235.5 yen per Kg on Tuesday.According to Centre for Monitoring...
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bad news for commodity exchanges and players in that segment with finance minister P. Chidambaram introducing a commodity transaction tax (CTT) on the trading of non-agricultural items.It is feared that the decision will not only hit the turnover of the commodity exchanges, but also encourage illegal off-market activities.While Chidambaram tried to soften the impact by exempting agricultural commodities,...
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