Financial Daily from THE HINDU group of publications
Tuesday, Sep 24, 2002
Financial Daily from THE HINDU group of publications Tuesday, Sep 24, 2002 |
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Agri-Biz & Commodities
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Commodity Exchanges Upasi tea futures from April G.K. Nair
KOCHI, Sept. 23 THE proposed exchange for futures trading in tea being set up by the United Planters' Association of Southern India (Upasi) is to become operational from April next. It is almost certain that the exchange would be stationed here and all the formalities are expected to be completed by March 2003, Mr N. Dharmaraj, Chairman, UPASI Tea Committee, told Business Line on Monday. He said it was most likely to be set up in Kochi because of its easy availability of Internet connectivity and being a more organised tea trading centre. Already, Upasi has started screening of companies that have come forward to provide technical support and create facilities for online trading and other required infrastructure. Once the exchange becomes operational, there will be more scientific price discovery with the hedging facility, hitherto unavailable, helping the trade, he added.
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