Date:12/04/2005 URL: http://www.thehindubusinessline.com/2005/04/12/stories/2005041202361700.htm

Back JRG enters AP market

Our Bureau

Visakhapatnam , April 11

THE Kochi-based JRG Wealth Management Ltd has entered the commodities market in Andhra Pradesh and is planning to set up trading terminals across the State to facilitate online futures trading.

Mr M.P. Mathew, Chairman, said JRG was into securities trading, commodities trading and insurance broking.

JRG is present in 220 centres in the country and a member of the National Multi-Commodity Exchange of India , the National Commodity and Derivatives Exchange of India and the Multi-Commodity Exchange of India. It is also a member of the India Pepper and Spices Trading Association.

He said commodities futures had a bright future and it would enable farmers and traders to hedge their risks. Farmers would get a remunerative price.

He said the share of grey market in commodities would come down gradually. Volumes would go up significantly and shortly commodities futures would overtake the securities market as in the West.

Mr Mathew said JRG was on an expansion drive. "We want to set up 1,500 trading terminals in the country. We will focus on Andhra Pradesh, as it is one of the major agricultural States," he said.