Date:20/05/2005 URL: http://www.thehindubusinessline.com/2005/05/20/stories/2005052001261000.htm

Back UPASI, MCX to hold workshop on futures trading

Our Bureau

Coimbatore , May 19

A WORKSHOP and live demonstration on futures trading in tea is being organised jointly by UPASI and the Multi-Commodity Exchange of India Ltd (MCX) at the Kochi Tea Trade Association on Monday (May 23).

In a statement issued here, the UPASI Commodity Exchange Ltd (UCEL) Chairman, Mr N. Dharmaraj, said the commencement of futures trading in tea would not only provide the functionaries a set of reference prices, but also facilitate to view the direction of futures prices based on demand-supply factors.

"Removal of uncertainty about futures price will lead to higher production and productivity. It is not just the growers who will benefit but all the functionaries in the demand-supply chain. They can plan accordingly," he said and pointed out that the futures prices are reliable indication of market trends two or three months down the line.