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

Land Ordinance

Land Ordinance

Modi says willing to make changes in land decree  Full Article 

Sahara Woes

Sahara Woes

SEBI cancels Sahara's portfolio management licence  Full Article 

Gold Demand

Gold Demand

India gold demand muted, eyes cut in import duty  Full Article 

Coffee's Hot

Coffee's Hot

IPO could value Cafe Coffee Day at $1 billion  Full Article 

Sahara Salaries

Sahara Salaries

Some staff say Sahara has not paid salaries for months   Full Article 

DLF Fined

DLF Fined

DLF says reviewing $8.4 million SEBI penalty  Full Article 

Rail Budget

Rail Budget

Breakingviews - India goes back to future with $137 bln rail push  Full Article | Full Coverage 

Clean Energy

Clean Energy

India says clean energy a $160 billion opportunity over five years  Full Article 

Global Markets

Global Markets

Global investors lift exposure to stocks as major markets touch record highs  Full Article 

Reuters India Mobile

Reuters India Mobile

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