The Hindu : Business : IPSTA to hold trade meet

Online edition of India's National Newspaper
Thursday, Mar 23, 2006

Business

Business

IPSTA to hold trade meet

Staff Reporter

Expects to get financial assistance from the Government

KOCHI: The India Pepper and Spice Trade Association (IPSTA) will hold a mega trade meet in association with the Forward Markets Commission (FMC) here on Friday.

S. Sundaresan, chairman of FMC, will inaugurate the first of its kind meet at Avenue Centre, Panampilly Nagar. Addressing a press meet here on Wednesday, Mahendra L. Parekh, president of IPSTA, said the trade meet was part of the modernisation and awareness process.

It would also bring together various stakeholders in the commodities segment, including the three national exchanges, 21 regional commodity exchanges, exporters, warehouses, broking houses, farmers and banks, under one umbrella, Mr. Paresh said.

He said the IPSTA expects to get financial assistance from the Government to complete its projects in the future, specially when volumes of trade are expected to rise. The IPSTA's entry into rubber market is the latest expansion taken up by the exchange.

There are some inherent problems too related to quality and delivery. The recent directive by FMC that all outstanding positions have to result in compulsory delivery has given rise to a number of problems, specially in ensuring quality, Mr. Parekh said.

C. J. Jose, chairman, Spices Board, P.H. Ravikumar, managing director and CEO, NCDEX, G. Mohandas, managing director, State Warehousing Corporation and other dignitaries will attend the meet.

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