desidata
20-05-2008, 06:46 AM
The suspension of futures in soyoil, rubber, chana and potato has lead to daily turnover loss of over Rs 700 crore in major commodity bourses in the country.
In Multi Commodity Exchange of India, the loss is around Rs 100 to Rs 120 crore daily while in National Commodity and Derivatives Exchange (NCDEX0 the cumulative effect of the ban on chana, potato and soyoil could be around Rs 600 crore daily based on April data.
According to MCX officials, with the suspension of futures in four commodities, the bourse has lost two important contracts—soyoil and potato.
Meanwhile, MCX officials said that they are still undecided about the public issue following the uncertain conditions prevailing in commodity futures markets in India following the ban on certain commodities.
Commodity bourses said that there was no justification in banning commodity futures in select commodities when it has been established that there is no link between inflation and price movements in commodity futures.
MCX had filed a prospectus with Securities and Exchange Board of India to raise Rs 400 crore through public issue three months back.
In Multi Commodity Exchange of India, the loss is around Rs 100 to Rs 120 crore daily while in National Commodity and Derivatives Exchange (NCDEX0 the cumulative effect of the ban on chana, potato and soyoil could be around Rs 600 crore daily based on April data.
According to MCX officials, with the suspension of futures in four commodities, the bourse has lost two important contracts—soyoil and potato.
Meanwhile, MCX officials said that they are still undecided about the public issue following the uncertain conditions prevailing in commodity futures markets in India following the ban on certain commodities.
Commodity bourses said that there was no justification in banning commodity futures in select commodities when it has been established that there is no link between inflation and price movements in commodity futures.
MCX had filed a prospectus with Securities and Exchange Board of India to raise Rs 400 crore through public issue three months back.