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Saturday, January 27, 2007

Tuticorin farmers familiarised with futures trading

The National Bank for Agriculture and Rural Development (NABARD) has familiarised farmers in the Tuticorin district with the concept of futures trading, as part of a new initiative taken by it.

Forward Markets Commission Director Shivanand S Ajur and Multi Commodity Exchange Manager Training V Venkat Giridhar interacted with farmers to educate them on "price discovery, price risk management and functions of futures contract", a NABARD official said.

Addressing the farmers, Ajur said only 91 commodities currently feature in the list approved by the Government for futures trading under section 15 of the Forward Contracts (Regulation Act).

The Centre plans to set up futures market for perishable products such as fish, egg and fruits, he said.

A live commodities trading session was also shown to the farmers through satellite link, officials said.

Source : The Hindu

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