Financial Daily from THE HINDU group of publications
Wednesday, Jun 05, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jun 05, 2002 |
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Agri-Biz & Commodities
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Coconut & Copra Copra futures commence Our Bureau
KOCHI, June 4 FUTURES trading in copra commenced, for the first time in the history from Tuesday, at the First Commodities Exchange of India Limited (FCEI) here. Though the Forward Market Commission (FMC) had permitted futures trading in copra and coconut oil from February 2, it could not be commenced due to technical constraints, according to Mr Ram Bahadur Singh and Mr N Ananthan, President and Chief Executive respectively. Futures trading in coconut oil had been launched on October 29, 2001 and "it is functioning successfully now'', they said. . They said to attract more members , the exchange was making arrangements for membership drive and awareness programmes in major cities in the State and also in Tamil Nadu in the coming weeks. In the first-ever futures trading, the prices were: July - Rs 2,900 per quintal and August Rs 3,100 per quintal. The total volume transacted was 40 tonnes.
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