Date:06/06/2006 URL: http://www.thehindubusinessline.com/2006/06/06/stories/2006060603010800.htm

Back FCEI set to re-launch copra futures

Our Bureau

Kochi, June 5

The First Commodities Exchange of India (FCEI) Ltd is all set to re-launch trading in copra futures. But copra being a more complex material than coconut oil, there are various technicalities involved in its quality assessment and earlier attempts by some national exchanges could not succeed so far, the exchange pointed out. Mr Paul Joseph, Senior Advisor in the Ministry of Economic Affairs, is slated to launch FCEI's copra futures trading at a seminar to be held in Kochi on June 17. Ms Minnie Mathew, Chairperson of the Coconut Development Board, is slated to inaugurate the seminar, while Mr S. Sundareshan, Chairman of Forward Markets Commission, will deliver the presidential address. Rubber is the next commodity on the futures agenda of the exchange, for which the permission is expected shortly. The exchange is not restricting itself to any commodity or list of commodities, but is open to trading in any of the 76 commodities that is being traded by other exchanges. "Our ultimate aim is to become a multi-commodity exchange with a wider reach," FCEI said in a press release.