Thursday, Sep 18, 2003
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By Our Special Correspondent
The Forward Contract (Regulation) Act, 1952 was extended to J & K from December 28, 1960.
The National Multi-Commodity Exchange through its brokers is providing the on-line trading connectivity. Though J&K is a commodity deficit State, it has considerable production base in a number of unique products such as fruits, certain varieties of basmati rice, wheat, maize, saffron and walnut.
Futures trading benefits not only in the case of substantive production base but also other stakeholders and participants in market such as traders, stockists, exporters and importers.
The exchange, which now provides futures trading facilities in 47 commodities, is also studying the commodity base of J & K for entering into contracts.
Moreover, the exchange proposes to provide trading connectivity to other cities and towns in J&K, while connectivity is already tied up in Jammu.
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