The Hindu Business Line : Chennai to host meet on palm oil futures

THE Malaysian Derivatives Exchange (MDEx - formerly Kuala Lumpur Commodity Exchange) is organising a seminar on palm oil futures trading in Chennai on September 6.

Called "Minimising Risk and Optimising Return with Crude Palm Oil Futures'', the seminar will discuss topics such as the importance of price risk management given the current status of Indian edible oil industry; understanding futures and its benefits as an effective price risk management tool; edible oil market and price outlook etc.

Analysts from Malaysia and India are expected to make presentations on CPO futures and their relevance to India. Perspective of contract users will also be presented.

Dr. Zaha Rina Zahari, chief operating officer of MDEx will address the meeting, while Mr. Anand Kumar Bhatt, Chairman of Forward Markets Commission will deliver the keynote address.

India is not only the world's largest importer of vegetable oil, but also the largest buyer of various palm oils. In 2000-01, out of total import of 48.3 lakh tonnes (lt), palm group of oils accounted for 29.5 lt.

Volatility in the market creates price risks for players which can be hedged by using CPO futures contracts, Mr Allan Au-Yong, business development manager of MDEx told Business Line. Malaysia is the world's largest producer and exporter of palm oil.

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