Commodity Awareness Programme to Broaden Outreach to Market Participants
Dibrugarh, Assam, India
As a part of concerted initiative taken by Multi Commodity Exchange of India Ltd. (MCX) and the Forward Markets Commission—to aid in the development of the commodity futures market in India, and spread awareness about hedging commodity price risks—the entities, organised a commodity awareness programme in association with Eastern Assam Chamber of Commerce and Industry at Dibrugarh (Assam) on January 30. The programme was customised for members of the association, and the market participants in and around Dibrugarh.
The comprehensive programme was specifically designed to enable the commodity value chain participants to understand the ways in which they can utilise commodity futures market as an efficient and transparent price discovery platform, to manage their price risks. Experts from MCX explained about the role of futures market in price risk management and price discovery. They further elaborated about how commodity exchanges play a vital and critical role in helping the participants of the commodity ecosystem, hedge their price risks and achieve their business objectives. Other topics discussed were recent developments in commodity futures market and the regulatory perspective and framework.
While explaining to the market participants about the importance of commodity futures market, Mr. Vibhor Tandon, Assistant Vice President, MCX said, “Commodity market participants face price risks in the volatile market conditions. If not managed effectively, volatility and adverse price movements can hurt their businesses and future growth prospects.”
“We are encouraged by the response and are extremely hopeful that the trading community and the participants in and around Dibrugarh will effectively make use of the Exchange to hedge their price risks’, he further stated.
Mr. Bhudeb Phukan, President, Eastern Assam Chamber of Commerce and Industry said that the programme was quite beneficial and useful for the market participants. In his concluding remarks he thanked FMC and MCX for taking the effort to organise this event to educate the people of Dibrugarh.
Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across segments are traded on MCX. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various Indian and International commodity exchanges and business associations.