India considers late trading in agricultural commodities - regulator

MUMBAI Sun Sep 22, 2013 2:22pm IST

A vendor arranges a price tag over a sack filled with sugar at a wholesale vegetable market in Ahmedabad September 11, 2013. REUTERS/Amit Dave

A vendor arranges a price tag over a sack filled with sugar at a wholesale vegetable market in Ahmedabad September 11, 2013.

Credit: Reuters/Amit Dave

Related Topics

MUMBAI (Reuters) - India is considering late-evening trading in commodities such as sugar and soybeans to increase market participation, Ramesh Abhishek, chairman of the Forward Markets Commission (FMC), told reporters on Sunday.

Late trading is currently allowed only in metals and energy products, where prices follow global markets. In agriculture commodities, futures trading currently takes place between 10 a.m. and 5 p.m.

"We are discussing with exchanges and other trade participants how we can start late-evening trading in agriculture commodities as some spot markets remain open till 8 p.m.," Abhishek told reporters on the sidelines of a conference.

The National Commodity and Derivatives Exchange, the biggest platform for futures trade in agriculture commodities, has already sought approval of the FMC to start late trading in some commodities.

"Late-evening trading can help market participants. It would be convenient for people trading commodities which are linked to the international market," said Samir Shah, managing director of NCDEX.

(Reporting by Rajendra Jadhav and Siddesh Mayenkar)

FILED UNDER:

REUTERS SHOWCASE

WTO Trade Deal

WTO Trade Deal

WTO clinches first global trade deal in its history  Full Article 

Kashmir Attack

Kashmir Attack

Ten dead in Kashmir's worst militant attack in more than a year  Read 

OPEC Meeting

OPEC Meeting

Saudis block OPEC output cut, oil price sinks further.  Full Article 

GDP, RBI Preview

GDP, RBI Preview

GDP growth set to weaken, business wants reforms more than rate cut  Full Article | Related Story 

Social Media

Social Media

Twitter to start tracking users' mobile apps  Full Article 

Jaitley to Rajan

Jaitley to Rajan

Jaitley likely to meet Rajan on Monday to urge rate cut  Full Article 

Banking Sector

Banking Sector

India moves to allow more businesses to offer basic financial services.  Full Article 

Forever21 in India

Forever21 in India

Forever21 sets sights on Indian cities, but please hold the hot pants  Full Article 

Japan Economy

Japan Economy

Japan inflation slows in October, output and spending show signs of recovery  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage