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  • Expert panels to study problems in future markets: Thomas



    Kochi, Jan 21 (IANS) Two expert panels will soon be set up to look into the problems of futures market in pepper and cardamom and put in place an effective mechanism to ensure the quality of products traded, said union Consumer Affairs, Food and Public Distribution Minister K.V. Thomas.
    “The expert panels will look into the problem of production of pepper and cardamom, and also recommend solutions to address concerns of various stakeholders in the trading of Kerala’s two major spices,” said Thomas, presiding over a stakeholders’ meet for rubber, pepper and cardamom participants in the futures market, organized by Mumbai-based Forward Markets Commission (FMC).
    The minister made this announcement after Kerala Chief Minister Oommen Chandy raised the subject at the same meeting.
    “The advisory committee set up by the government for the futures market has already provided an institutional mechanism for consultation with all the stakeholders. A number of measures for disclosure of trade related information on the website of exchanges has also brought about greater transparency in this market and promoted self-regulation,” added Thomas.
    The commodity futures market in India has been growing rapidly since 2003, and the total value of trade in this market has increased to Rs.129 lakh crores during April-December 2012.
    This trade takes place in five national exchanges and 16 regional exchanges through over 8,000 intermediaries and 14 lakh clients.


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