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Patna, June 1, 2015: Continuing its constant endeavour to spread awareness about hedging commodity price risks, Multi Commodity Exchange of India Ltd. (MCX) and the Forward Markets Commission organized an awareness programme in association with Bihar Chamber of Commerce and Industries on May 30, 2015, in Patna. It was tailored for members of the association and local market participants from Patna.
The programme was focussed on creating an understanding of the commodity futures market among the participants, thereby enabling their inclusion. The interactive programme was also centered around the fundamentals of commodity trading and the benefits of hedging bullion price exposures. The experts threw light on market fundamentals and on the outlook of the bullion industry.
Speaking on commodity futures trading, expert from MCX, Mr Vibhor Tandon, Assistant Vice President, said, “The exchange platform enables the commodity value chain participants to effectually hedge their price exposure against adverse price movements. At the same time, the exchange is also a platform where the commodity prices discovered are the true reflection of the real prices as the participants on this platform are from across the country and represent all sections of the economy.”
Mr O.P. Sah, President, Bihar Chamber of Commerce and Industries said, “There is a growing awareness among Indian market participants that commodity futures contract can be effectively used to avoid the risks arising from volatility in commodity prices.”
He further stated that “the session was quite beneficial and useful for the members.” He continued, “MCX will go a long way in educating the market participants on the benefits of hedging, thereby giving them the sanguinity to hedge risks.”