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NMCE to form Knowledge Management Centre

KOCHI: With the exclusive objective of educating the farmers on commodity market, the National Multi Commodity Exchange of India limited (NMCE) is contemplating the setting up of a Knowledge Management Centre in Kochi. According to the NMCE management, the centre will be operational by the first quarter with a perfect learning programme on commodity market.

The learning programme is designed “to dispel the misgivings on futures trade and impart correct knowledge of commodity market to the farmers of the country.” The exchange is also planning an exclusive academy, in association with a leading international business school, for commodity market with the intention of producing “professionals of excellence in commodity management and trade. We have already roped in professionals with proven prominence in the filed of commodity for this.”

Further elaborating on the Knowledge Management Centre (KMC) Kailash Gupta, managing director of NMCE said: “To certain extent, ignorance in futures trade has prompted many to advocate against futures trade. Once properly educated on the benefits of futures trade, they (those who oppose) will know that their apprehensions are unfounded. Through our learning process we intend to impart correct knowledge on commodity futures.”

Further explaining on the benefits of futures trade, particularly on agricultural produces, Mr. Gupta said: “By way of selling futures of one’s commodity the producer can ensure that one is selling one’s commodity at a particular price on a particular date. Since the selling price on a particular date is clear the market manipulators can’t compel the producer for panic selling. Similarly, a trader through futures contract can ensure that he/she is protected against any adverse price fluctuations.”

Dwelling on the advantages of the trade to exporters Mr. Gupta said. Mr. Gupta said that creating proper awareness of commodity trade among the agrarian community tops his priority. “We will demonstrate to the nation, how commodity future trade could be made use of to boost the economy of the majority frames of the country. Once these farmers become accustomed to future trading the market manipulators can hardly deceive them.

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