Financial Daily from THE HINDU group of publications
Wednesday, Oct 02, 2002
Financial Daily from THE HINDU group of publications Wednesday, Oct 02, 2002 |
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Agri-Biz & Commodities
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Commodity Exchanges Cofei plans fresh start from Nov Our Bureau
BANGALORE, Oct. 1 THE Coffee Futures Exchange of India (Cofei) is planning to close all deals before starting fully afresh sometime after Diwali. The exchange may also shift office out of its present location in the Bangalore Stock Exchange. Besides, it plans to hold a seminar later this month to get the industry together and decide on reviving coffee trading soon. The new President of the exchange, Mr Arun Bidappa, who formally took over at the Cofei annual general meeting held on Monday, said the foremost item on the agenda was to devise ways to kick-start trading again. He replaced Mr Ashwin Shah, who has been President ever since inception. "We have to decide how to make deliveries simpler and put certified warehouses into place," he said. Cofei suspended online trading a year ago. But the entire trading has come to a halt during the last couple of months. In the meanwhile, if the National Commodities Exchange comes through, Cofei hopes to operate on that platform. Ultimately, the aim was still to go online, Mr Bidappa said.
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