Business Daily from THE HINDU group of publications
Wednesday, Aug 30, 2006
Business Daily from THE HINDU group of publications Wednesday, Aug 30, 2006 |
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Agri-Biz & Commodities
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Commodity Exchanges MCX to focus on broad commodities Our Bureau
Kolkata , Aug. 29 Mr Jignesh Shah, MD and CEO of Multi Commodity Exchange (MCX) on Tuesday said the exchange would focus on broad commodities with global linkages to enhance its share in the agri-commodity futures market. "We have done reasonably well in broad commodities like cotton and soya. The potato varieties we have entered into are broad enough and do not offer scope for cartelisation. We will definitely launch more contracts on agri-commodities in the future provided it conforms to these guiding principles," he said. MCX commands a 12 per cent market share in agri-commodities as against 78 per cent in metals. In energy, the exchange plans to launch forward contracts on coal in the future. Meanwhile, in an effort to create a pool of human resources specially trained for the commodity market, Multi Commodity exchange on Tuesday tied up with the Institute of Social Welfare and Business Management to start a three-month diploma course. Calinfo, a Kolkata-based software firm has also been roped in to conduct on-line tests for identifying and creating domain experts. MCX had previously tied up with a Mumbai-based management institute for offering a three-month diploma course.
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