GOVERNMENT OF INDIA

FORWARD MARKETS COMMISSION

MINISTRY OF CONSUMER AFFAIRS

FOOD AND PUBLIC DISTRIBUTION

DEPARTMENT OF CONSUMER AFFAIRS

ANNUAL REPORT 2009-10

EVEREST, 3RD FLOOR. 100, MARINE DRIVE,

MUMBAI 400 002

January 2011

CONTENTS

Chapter No.

Contents Page No

1 Introduction 1

2 Developments in the Commodity Derivative Market

12

3 Commodity Futures Market in 2009-10 – A Review

23

4 Action Against Illegal Forward Trading 43

5 Administration and Budget 45

ANNEXURES

Annexure No.

Details Page. No

I List of Commodities Notified Under Section 15 of the F. C. (R.) Act, 1952

49

II List of Exchanges 51

III-A Trading Permissions Granted to the National Exchanges

52

III-B Trading Permissions Granted to the Regional Exchanges

58

IV Guidelines for allowing Position Limits to the NAFED

61

V-A Guidelines for grant of recognition to new national commodity exchange

62

V-B Guidelines on the Equity Structure of the Nationwide Multi-Commodity Exchanges

69

VI Uniform Penalty Structure 75

VII-A Details of Awareness Programmes Organized during the year 2009-10

77

VII-B State wise summary of awareness programmes conducted for farmers and non-farmers.

122

VIII Details of Training Programmes conducted during 2009-10

124

1

CHAPTER 1

Commodity Futures Markets

INTRODUCTION

History:

1.1 The commodity futures market in India dates back to more than a century. The first

organized futures market was established in 1875, under the name and style of 'Bombay Cotton

Trade Association' to trade in cotton derivative contracts. This was followed by institutions for

futures trading in oilseeds, foodgrains, etc. The futures market in India underwent rapid growth

between the period of First and Second World Wars. As a result, before the outbreak of the

Second World War, a large number of commodity exchanges trading futures contracts in several

commodities like cotton, groundnut, groundnut oil, raw jute, jute goods, Castorseed, wheat, rice,

sugar, precious metals like gold and silver were flourishing throughout the country. In view of the

delicate supply situation of major commodities in the backdrop of war efforts mobilization, futures

trading came to be prohibited during the Second World War under the Defence of India Act. After

independence, especially in the second half of the 1950s and first half of 1960s, the commodity

futures trading again picked up and there were thriving commodity markets. However, in mid-

1960s, commodity futures trading in most of the commodities came to be banned and futures

trading continued only in two minor commodities, viz, pepper and turmeric. In the 1980s, the

futures trading in some commodities like potato, Castorseed, and gur (jaggery) was permitted. In

1992, futures trading in hessian was permitted; in April 1999 futures trading in various edible

oilseed complexes was permitted and in May 2001 futures trading in Sugar was permitted. The

National Agricultural Policy announced in July 2000 recognised the positive role of forward and

futures market in price discovery and price risk management. In pursuance thereof, Government of

India, by a notification dated 1.4.2003, permitted additional 54 commodities for futures trading.

With the issue of this notification, prohibition on futures trading has been completely withdrawn.

The mechanism of forward trading has actually developed and advanced considerably in the major

trading nations of the world, like USA, UK, France, Japan, etc. In these countries, forward trading

has been permitted in many new items/services including financial futures, shipping freights and

interest rates etc. In comparison, commodity futures markets in India are much simpler and are at

present dealing in single futures contracts in commodities.

Economic Functions:

1. 2. In a free market economy, Futures trading performs two important economic functions,

viz., price discovery and price risk management. Such trading in commodities is useful to all

sectors of the economy. The forward prices give advance signals of an imbalance between demand

and supply. This helps the government and the private sector to make plans and arrangements in a

shortage situation for timely imports, instead of having to rush in for such imports in a crisis-like

situation when the prices are already high. This ensures availability of adequate supplies and

averts spurt in prices. Similarly, in a situation of a bumper crop, the early price signals emitted by

futures market help the importers to defer or stagger their imports and exporters to plan exports,

which avoid glut situations and ensures remunerative prices to the producers. At the same time, it

enables the importers to hedge their position against commitments made for import and exporters

to hedge their export commitments. As a result, the export competitiveness of the country

improves.

Benefits to the farmers and other stakeholders:

1. 3. Farmers and growers also benefit through the price signals emitted by the futures markets

even though they may not directly participate in the futures market. The futures markets, through

advance price discovery lead to a shift in sale-purchase patterns during harvest and lean seasons

and thereby facilitate reduction in the amplitude of seasonal price variation and help the farmer

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realize somewhat better price at the time of harvest. These price signals help the farmer in

planning his cultivation in advance as well as to determine the kind of crop which he should prefer

to raise. These signals also help him in fine tuning his marketing strategy after the harvest.

Empowered with the price information the farmer is able to avoid excess sale immediately after

the harvest and is also able to bargain for better prices from trade in the mandi. By providing the

manufacturers and the bulk consumers a mechanism for covering price-risks, the futures market

induces them to pay higher price to the producers, as the need to pass on the price-risk to farmers

is obviated. The manufacturers are able to hedge their requirement of the raw materials and as

also their finished products. This results in greater competition in the market and ensures viability

of the manufacturing units.

Suitability of a commodity for futures trading:

1.4 Futures trading can be organized in those commodities/ markets which display some

special features. The concerned commodity should satisfy certain criteria as listed below:

a) the commodity should be homogenous in nature, i.e., the concerned commodity

should be capable of being classified into well identifiable varieties and the price of

each variety should have some parity with the price of the other varieties;

b) the commodity must be capable of being standardized into identifiable grades;

c) supply and demand for the commodity should be large and there should be a large

number of suppliers as well as consumers;

d) the commodity should flow naturally to the market without restraints either of

government or of private agencies;

e) there should be some degree of uncertainty either regarding the supply or the

consumption or regarding both supply and consumption,

f) the commodity should be capable of storage over a reasonable period of time of, say, a

few months or more.

Participants in the Commodity Futures Markets:

1. 5. There are three broad categories of participants in the futures markets, namely, hedgers,

speculators and arbitrageurs. Hedgers are those who have an underlying interest in the specific

delivery or ready delivery contracts and are using futures market to insure themselves against

adverse price fluctuations. Examples could be stockists, exporters, producers, etc. They require

some people who are prepared to accept the counter-party position. Speculators are those who

may not have an interest in the ready contracts, i.e., the underlying commodity, etc. but see an

opportunity of price movement favourable to them. They are prepared to assume the risk which

the hedgers are trying to transfer in the futures market. They provide depth and liquidity to the

market. While some hedgers from demand and supply side may find matching transactions, they

by themselves cannot provide sufficient liquidity and depth to the market. Hence, the speculators

who are essentially expert market analysers take on the risk of the hedgers for future profits and

thereby provide a useful economic function and are an integral part of the futures market. It would

not be wrong to say that in the absence of speculators, the market will not be liquid and may at

times collapse. Arbitrageurs are those who make simultaneous sale and purchase in two markets

so as to take benefit of price imperfections. In the process they help, remove the price

imperfections in different markets, For example, the arbitrageurs help in bringing the prices of

contracts of different months in a commodity in alignment.

System of Regulation of Forward Trading:

1.6 Regulation of forward trading is done by a three tier regulatory structure, viz., the Central

Government, Forward Markets Commission and the Recognized Commodity Exchanges /

Associations.

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• The Central Government has the powers to legislate on the subject of forward trading

in commodities. Presently the subject is dealt with by the Ministry of Consumer

Affairs, Food and public Distribution in the Central Government. The Central

Government broadly determines the policy relating to areas such as identification of

commodities as well as the territorial area in which futures / forward trading can be

permitted and giving recognition to the Exchange / Association through which such

trading is to be permitted.

• The Forward Markets Commission performs the role of approving the Rules and

Regulations of the Exchange in accordance to which trading is to be conducted,

accords permission for commencement of trading in different contracts, monitors

market conditions continuously and takes remedial measures wherever necessary.

• The Recognized Exchange / Associations provide the framework of Rules and

Regulations for conduct of trading, indicate the place where the trading can be

conducted, report, record, execute & settle contracts, provide forum for exchange of

documents and payments, etc.

Forward Contract (Regulation) Act:

1. 7. The Commodity Future Markets are regulated according to the provisions of Forward

Contract (Regulation) Act 1952. The Act broadly divides commodities into 3 categories, i.e.

commodities in which forward trading is prohibited, commodities in which forward trading is regulated and residuary commodities. Under Section 17 of the F.C(R) Act, 1952, the

Government has powers to notify commodities, forward trading in which is prohibited in whole or

part of India. Any forward trading in such commodities in the notified area is illegal and liable to

penal action. Under Section 15, Government has powers to notify commodities in which forward

trading is regulated as also the area in which such regulation will be in force. Once a commodity

is notified under section 15, the forward trading in such contracts (other than Non-transferable

Specific Delivery Contracts) has to be necessarily between members of the recognized association

or through or with any such member. Contracts other than these are illegal. Section 6 of the Act

provides for powers to the Central Government to grant recognition to an association for

organizing forward contracts in the commodity which is notified under Section 15. Such

recognition may be for a specified period or may remain in force till revoked under Section 7 of

the Act. Section 18(1) exempts the Non-Transferable Specific Delivery Contracts from the

purview of regulation. However, under Section 18(3) of the Act, the Government has powers to

prohibit or regulate the non-transferable specific delivery contracts in commodities also by issue

of a notification. Such notifications may apply for the whole of the country or the specified part of

the country. Trading in commodities where non-transferable specific delivery contracts are

prohibited is illegal and liable to penal action. Trading in non-transferable specific delivery

contracts in respect of regulated commodities has to be through recognized associations just as in

the case of other forward contracts. The commodities that are notified neither under section 15

nor under section 17 of the Act is in common parlance referred to as free commodities. For

organized forward trading in such commodities, the concerned Association or Exchange has to get

a certificate of registration under Section 14B of the Act from the Forward Markets Commission.

1. 8. The Act defines three types of contracts i.e. ready delivery contracts, forward contracts

and options in goods.

1.8.1. Ready delivery contracts are contracts for supply of goods and payment thereof where

both the delivery and payment is completed within 11 days from the date of the contract. Such

contracts are outside the purview of the Act.

1.8.2. Forward Contracts, on the other hand, are contracts for supply of goods and payment,

where supplies of goods or payment or both take place after 11 days from the date of contract or

where delivery of goods is totally dispensed with.

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1.8.3. The forward contracts are further of two types, viz., specific delivery contracts and

'other than specific delivery contracts'. The specific delivery contracts are those where delivery

of goods is mandatory though delivery takes place after a period longer than 11 days. Specific

delivery contracts are essentially merchandising contracts entered into by the parties for actual

transactions in the commodity and terms of contract may be drawn to meet specific needs of

parties as against standardized terms in futures contracts.

1.8.4. The specific delivery contracts are again of two sub-types viz., the transferable variety

where rights and obligations under the contracts are capable of being transferred and the non-

transferable variety where rights and obligations are not transferable.

1.8.5. Forward contracts other than specific delivery contracts are what are generally known as

'futures contracts' though the Act does not specifically define the futures contracts. Such contracts

can be performed either by delivery of goods and payment thereof or by entering into offsetting

contracts and payment or receipt of amount based on the difference between the rate of entering

into contract and the rate of offsetting contract. Futures contracts are usually standardized

contracts where the quantity, quality, date of maturity, place of delivery are all standardized and

the parties to the contract only decide on the price and the number of units to be traded. Futures

contracts are entered into through the Commodity Exchanges.

1.8.6. ‘Options’ in goods means an agreement, by whatever name called, for the purchase or sale

of a right to buy or sell, or a right to buy and sell, goods in future and includes a put, a call, or a

put and call in goods. Options in goods are prohibited under the present Act. An option contract

is the right (but not the obligation) to purchase or sell a certain commodity at a pre-arranged price

(the "strike price") on or before a specified date. For this contract, the buyer or seller of the option

has to pay a price to his counterpart at the time of contracting, which is called the "premium; if the

option is not used, the premium is the maximum cost involved. When prices move favorably, this

right will not be exercised, and therefore, the purchase of options provides protection against

unfavourable price movements, while permitting to profit from favourable ones. Option can give

the right to buy or sell a certain amount of physical commodity, or, more commonly, they can give

the right to buy or sell a futures contract.

1.9 Working of Forward Markets Commission:

1.9.1 Forward Markets Commission is a statutory body set up under Forward Contracts

(Regulation) Act, 1952. The Commission functions under the administrative control of the

Ministry of Consumer Affairs, Food & Public Distribution, Department of Consumer Affairs,

Government of India. The functions of the FMC are dealt with in section 4 of the Forward

Contracts (Regulation) Act, 1952 [F.C(R) Act, 1952] which is given below:

i. to advise the Central Government in respect of the recognition of, or the withdrawal of

recognition from any association or in respect of any other matter arising out of the

administration of the FC(R) Act, 1952.

ii. to keep forward markets under observation and to take such action, in relation to them as

it may consider necessary, in exercise of the powers assigned to it by or under the FC(R)

Act, 1952.

iii. to collect and whenever the Commission thinks it necessary, publish information

regarding the trading conditions in respect of goods to which any of the provisions of this

Act is made applicable, including information regarding supply, demand and prices and to

submit to the Central Government periodical reports on the operation of the Act, and the

working of forward markets relating to such goods.

iv. to make recommendations generally, with a view to improving the organization and the

working of forward markets.

5

v. to undertake the inspection of the accounts and other documents of (any recognized

association or registered association or any member of such association) whenever, it

considers it necessary and

vi. to perform such other duties and exercise such other powers as may be assigned to the

Commission by or under the FC(R) Act, 1952 or as may be prescribed.

1.9. 2. Section 4A of the FC (R) Act, 1952 deals with the powers of the Commission which

are as follows:

� The Commission have all the powers of a civil court under the Code of Civil Procedure

1908 (5 of 1908) while trying a suit in respect of the following matters:

● Summoning and enforcing the attendance of any person and examining him on oath;

● Requiring the discovery and production of any documents;

● Receiving evidence on affidavits;

● Requisitioning any public record or copy thereof from any office;

● Any other matter which may be prescribed.

1.9.3. The Commission, thus, is a statutory authority entrusted with regulatory functions under

the Act. The Commission consists of a Chairman and two members. Presently, Shri. B.C. Khatua,

IAS is the Chairman of the Commission. The other members of the Commission are Shri. Rajeev

Kumar Agarwal, IRS and Shri. D. S. Kolamkar, IES. It has its headquarters at Mumbai and a

Regional Office at Kolkata. Forward Markets Commission has 5 Divisions to carry out various

tasks. These Divisions were formed on 1st August 2005 in order to streamline the work on a

functional basis.

i) Markets, Trading and Development (Market Division)

ii) Market Intelligence, Monitoring & Surveillance ( M & S Division )

iii) Awareness, Training and Intermediary Registration and IT

(IR Division)

iv) Investigation, Vigilance and Legal Affairs Division (Legal Affairs Division)

v) Commission Secretariat including HR, Administration and Finance, Grievances

(Administration Division)

Each Division is headed by a Director, assisted by Deputy Directors, Assistant Directors,

Economic Officers and Junior Research Assistants.

Regulatory Tools:

COMMISSION

Division – I

Division of

Markets,

Trading and

Development

(Market

Division )

Division – II

Market

Intelligence,

Monitoring &

Surveillance

(M& S

Division)

Division-IV

Investigation,

Vigilance and

Legal Affairs

Division

(Legal Affairs

Division)

Division V

Commission

Secretariat

including HR,

Administratio

n & Finance

Grievances

(ADM

Division)

Division – III

Awareness,

Training and

Intermediary

Registration

and IT

6

1.10 Futures trading has the risk of being misused by unscrupulous elements. In order to

safeguard the market against such elements, regulatory measures as under are prescribed by the

Forward Markets Commission:-

(a) Limit on open position of an individual operator as well as member, to prevent over

trading;

(b) Limit on daily price fluctuation, to prevent abrupt upswing or downswing in prices;

(c) Special margin deposits to be collected on outstanding purchases or sales, to curb

excessive speculative activity, through financial restraints;

(d) During times of shortages, the Commission may even take more stringent steps like

skipping trading in certain deliveries of the contract, closing the markets for a

specified period and even closing out the contract to overcome emergency

situations.

1.11 Major Initiatives taken by the Government / Commission since liberalization of the

market.

� Prohibition on futures trading lifted in all the commodities on 1st April 2003.

� Three Multi-Commodity electronic Exchanges, i.e., National Multi Commodity

Exchange, Ahmedabad (10.1.2003), Multi Commodity Exchange, Mumbai (26.9.2003)

and National Commodity and Derivative Exchange, Mumbai (20.11.2003) were granted

recognition as 'National' Exchanges during 2003. On 14th May 2008, the commission had

issued guidelines on setting up of new National Multi Commodity Exchanges to further

strengthen the infrastructure in Commodity Derivative Market. Inter alia, it prescribed the

framework for share holding pattern of a new National Multi Commodity Exchange. A

fourth National Exchange namely, Indian Commodity Exchange, NCR, Gurgaon was

granted recognition under these guidelines on 09.10.2009. These exchanges can offer

futures contracts in all the commodities subject to the approval of the Commission.

Besides these, there are 17 other exchanges recognized for futures trading in specific

commodities, generally reffered to as Regional Exchanges.

� After a ban of more than four decades, futures trading in gold and silver for the first time

commenced at National Multi Commodity Exchange, Ahmedabad on 3.10.2003. Multi

Commodity Exchange, Mumbai and National Commodity and Derivative Exchange,

Mumbai also launched futures trading in gold and silver on 10.11.2003 and 15.12.2003

respectively.

� Improvement of Regulatory Framework and Re-structuring of Forward Markets Commission The F.C (R) Act enacted in 1952 does not meet the regulatory needs of a

modern electronic market. Hence, the regulatory framework needs to be overhauled to

bring it on par with those of similar regulators like SEBI, etc. and also to restructure and

strengthen the Forward Markets Commission to meet the regulatory challenges. Hence, a

Bill proposing amendments to F.C (R) Act has been approved by the Cabinet which, inter

alia, provides for –

• Defining forward contract so as to include other commodity derivatives, definition

of intermediaries, etc.

• Composition and functioning of FMC.

• Financial and administrative autonomy of the Commission so as to provide for

recruitment of its officers and its employees, management of the affairs to vest

with the Chairman, accounts and audits, and creation of an ‘FMC General Fund’

to which all receivables except penalties will be credited. The FMC General Fund

shall be used for the management of the affairs of the Commission and to enforce

the provisions of the F.C(R)Act, 1952.

7

• Levying of fees on intermediaries to finance the Commission activities.

• Allowing trading of options and other derivatives in goods.

• Provide for corporatisation and demutualization of commodity exchanges.

• Strengthening the penal provisions.

• Constitution of Forward Markets Appellate Tribunal.

• Provision for grant by the Central Government to meet transitional financial needs

of FMC.

1.12. Major Regulatory Initiatives taken by Forward Markets Commission during 2009-10.

� The Commodity futures market witnessed rapid growth since the opening of market

in 2002. The National Commodity Exchanges viz. MCX, NCDEX and NMCE have

completed 5 years in their operations in Commodity Derivative Market. The

Commission had also been issuing, from time to time, guidelines and directions to

these exchanges in respect of better governance, transperancy and investor

confidence in Commodity Derivative Market.

� A revision was proposed in the framework of share holding pattern of National

Multi Commodity Exchanges who have completed 5 years of the their operation in

the commodity derivative market to bring them, as far as practicable, in alignment

with the guidelines of 14th May 2008 issued for new National Exchanges.

Therefore, all the pre-2008 National Commodity Exchanges were directed to align

their share holding pattern as per the directions of the guidelines issued by the Govt.

of India on 29th July 2009 after completion of the fifth year of their operation are

given in Annexure V.

� The Ministry of Consumer Affairs, Food and Public Distribution, Government of

India, on 9th October 2009, granted recognition to M/s. Indian Commodity

Exchange Limited (ICEX), NCR, Gurgaon, on permanent basis in respect of

forward contracts in all the commodities in which Section 15 is applicable and the

commodities to which neither Section 17 nor Section 15 of FC(R) Act, 1952 is

applicable, with prior permission of the FMC.

� The entities participating in the commodity derivatives market also operate like the

intermediaries in other segments of the financial system and are exposed to similar

risks as interdediaries in other segments of financial market. Hence in order to avoid

money laundering threats, the Commission issued Guidelines for bringing members

of the commodity exchanges under the purview of the anti Money Laundering.

� The Forward Markets Commission undertook various regulatory initiatives to

improve the delivery system at the Commodity Exchanges which would facilitate

the participation of hedgers in these markets. The major Regulatory initiatives taken

during the year in this regard are:

• Introduction of Exchange for Physicals (EFP) and Alternate Future

Settlement Mechanism (AFS):

• Higher Position limits for NAFED to facilitate hedging and delivery by

them.

• Introduction of early delivery system in select commodities to

facilitate hedging operations and encourage physical delivery.

Besides, the Commission continued to regulate the markets effectively and intervened in

the markets as and when required by way of revising position limits, margins etc.

1.13. Collaboration with International Regulators:

In order to strengthen its regulatory arm, FMC took steps for collaborating with regulators

in other countries. FMC is also an associate member of IOSCO, an international organization of

Security and Commodities Market Regulators. In addition, FMC has also signed Memorandum of

8

Understanding with the United States Commodity Futures Trading Commission (USCFTC) and

the China Securities Regulatory Commission (CSRC). The Commission in January 2010 also

signed MOU with the Commissao de Valores Mobiliarios – CVM (Securities and Exchange

Commission of Brazil), Brazil.

1.14. Developmental Initiatives taken by Forward Markets Commission

The Commission has taken the following steps in recent years to ensure that the markets

are broad based and its benefits reach all the stakeholders of the Commodity Markets.

• Promoting the participation of hedgers (producers, processors, exporters,

importers, etc.) to counter balance the speculative element in the price discovery.

• Increasing the awareness level of different category of stakeholders especially

farmers to make them aware of the existence of as well as benefits from the

futures markets, sensitization of policy makers and capacity building in the

commodity sector.

• Working on various models of “Aggregation” to enable the farmers to take the

benefit of actual hedging on the Commodity Exchanges to manage their price

risks.

• Working on a project of Price Dissemination through APMCs and other centers

to empower the farmers with price information.

• Meeting with various stakeholders to understand their difficulties, problems and

felt needs so as to align/ design policies to feasible/ desirable objectives.

1.14.1. Promotion of Hedgers’ participation:

The Commission has taken various measures to promote participation of Hedgers in the

commodity futures markets. In order to understand the regulatory areas that required modification

for facilitation of greater hedgers’ participation in the commodity futures market, periodic

discussions are held with exchanges and stakeholders. Besides these regular discussions, several

meetings have been held with the corporate houses at the all India level to take their suggestions

for improving hedgers’ participation in agri-commodities, metals and energy products.

Based on the feed back received during the meetings and market intelligence gathered, the

Commission has taken several proactive steps to facilitate hedgers participation including focusing

on the delivery system of the Exchanges, expanding delivery period, direct delivery, permitted

exchange for physicals (EFP), at MCX and Alternate Futures Settlement (AFS) at NCDEX altered

duration of contracts, quality related issues and relaxing near-month open interest limit in certain

commodities in which the hedgers were facing difficulties in giving adequate physical delivery in

case of adverse price movement.

1.14.2. Creation of Awareness:

Creation of awareness amongst the farmers, related bodies and organizations including the

ones which could be potential hedgers / aggregators and other market constituents has been one of

the major activities of the Commission in last three years. During 2009-10, 515 awareness

programmes were conducted for various stakeholders of the commodity futures market. Of this,

423 programmes were held exclusively for farmers. In the previous year, (2008-09) 197 awareness

programmes were held, of which 107 were held exclusively for the farmers. The programmes were

being conducted at different locations all over the country. These awareness programmes were

attended by different category of market participants ranging from farmers, traders and members

of Commodity exchanges to bankers, cooperative personnel staff and students of Universities,

Government functionaries, warehouse professionals, agricultural extension makers etc. These

awareness programmes have resulted in creating awareness among the various constituents about

9

commodity futures trading and the benefits thereof. The programmes were organized in

association with various organizations/universities having connectivity with the farmers, viz.

agricultural universities, NIAM, NABCONS/ NABARD, MITCONS, farmer cooperatives and

federations, GSKs, CIFA, National & Regional Based Commodity Exchanges, etc.

1.14.3. Sensitization of officers involved in policy making for Agricultural Sector:

Sensitization programmes have been organized by the Commission for senior State

Government and Central Government functionaries. During the year, 5 such sensitization

programmes were organized at IIM, Bangalore and IICM, Navi Mumbai. The objective of the

programmes was to create awareness among the senior Central Government and State Government

officers from the Departments of Civil Supplies, Agriculture, Cooperation, Marketing Federations,

etc., about the concept and economic functions of the futures market the possible role they can

play to promote and facilitate participation by various stakeholders, especially farmers, in the

commodity futures market, and the use of price information emanating from the futures market in

their related policy making decisions.

1.14.4. Capacity Building Training Programmes

FMC has been organizing training programmes for market constituents and their officers

as part of its capacity building endeavors. The capacity building efforts of the Forward Markets

Commission are meant to complement the awareness creation activities of the Commission.

Training on Commodity Futures Market is being imparted to policy makers, university staff,

students, extension workers, farmer federations, Cooperatives, banks and officers of agencies

working at the grass root level to enable them to educate market participants about the economic

significance of the market and means of participation in the market. Special training programmes

are being organized for trainers who may take up the responsibility of educating the farmers about

the futures market.

In the year 2009-10, FMC organized 63 capacity building programmes the training

programmes, workshops and seminars were organized for the benefit of the functionaries of the

above organizations through various Institutes such as VAMNICOM, Pune; IICM, Navi Mumbai,

N.G.Ranga University, Hyderabad, Topic, Gurgon, MANAGE, Hyderabad; Pondichery

University, Indira Gandhi Institute of Cooperative Management, Assam Agricultural University,

Tamil Nadu Agricultural University, Coimbatore; Institute of Cooperative Management, Jaipur,

NIBM, Pune, CAB, Pune, NABARD, etc. Three Capacity Building Programmes were held for

FMC officers and staff to strengthen their capabilities in administration and regulation of market

through Regional Training Centre, Govt. of India Mumbai, Bombay Stock Exchange & Research

Development Association, Jaipur. The programmes are expected to train functionaries of related

organizations with a strong rural presence and working directly or indirectly with farmers, so that

the message of futures market is taken to the grassroots- producers, processors and traders.

1.14.5. Promotion of commodity related education and developing a talent pool:

Due to the loss of domain expertise over 2 generations on account of ban on futures

trading in the 1960s through the 1980s, at this juncture, the subject of commodity futures trading

is in a way a new subject in India. FMC and the Department of Consumer Affairs had taken up

the matter of introducing courses on Commodity Futures in Universities and Management

Institutes, with the Ministry of Human Resources Development, Government of India.

The Commission is organizing awareness programmes for faculty and students of Agri-

university management institutes of other colleges in the area of commodity future market to

create awareness and interest in the subject and also expose them to the employment opportunity

available in the sectors.

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During 2009-10, the Commission provided summer internship to twelve students from

KIIT School of Management, Bhuvaneswar, Orissa (2), the Indian Institute of Management,

Ahmedabad (IIM-A) (4), the IIT, Mumbai (1), the Department of Management Sciences,

University of Pune (1), Mahatma Gandhi Institute of Management, Sikar, Rajasthan (1) and N. L.

Dalmia Institute of Management Studies and Research, Mumbai (3).

1.14.6. Aggregation Model for Farmers’ participation:

The Commission is making efforts through the National Exchanges to develop a model of

“aggregation”, so that various agencies, viz. Cooperatives, Farmers’ Associations, State Marketing

Federations, Non-Government Organizations and Banks would be able to act as Aggregators and

take consolidated positions on behalf of groups of farmers to facilitate their hedging operation and

transfer the benefit of futures trading to them. The Exchange, in turn are field testing aggregation

models on a pilot basis in association with NGOs and financial institutions. The Commission has

also taken up the issue with representatives of major cooperatives, marketing federations, NGOs,

Banks and other organization having requisite domain knowledge and experience to act as an

interface and facilitator between the farmers and the futures market. The matter has also been

taken up with the State Governments to elicit their co operation.

1.14.7. Project for Price Dissemination:

The Forward Markets Commission has, in association with the Commodity Exchanges,

initiated a process of dissemination of futures and spot prices of agricultural commodities at

various mandis, under the AGMARKNET. The FMC proposes to extend the project to post

offices, rural branches of the Banks, warehouses, offices of cooperatives and other areas

frequented by the farmers. The dissemination of price information is expected to help various

hedger groups, especially farmers, in their pre-sowing and post harvest decision making process

and hedging their price risks in the market. The project for dissemination of spot and futures prices

in agricultural commodities of relevance to particular States / areas / mandis is being implemented

in consultation with AGMARK. During the year 2009-10, price ticker boards have been installed

in 183 Mandis spread across 14 States. During the year, 2010-11, it is proposed to install

electronic price ticker Boards in 797 mandis including 92 in the North East Region.

In addition to this, price tickers of the commodity exchanges are run during news telecasts

on Doordarshan. Besides, future prices discovered in the Exchanges are published in newspapers,

displayed in railway stations and bus stands, rural bank branches are available on mobile phones,

etc. Thus, the opacity of prices that existed earlier has reduced considerably and conditions have

been created for better integration of various spot markets across the nation.

1.14.8. Exhibitions

The Forward Markets Commission and the National Exchanges participated in three

Exhibitions during the year, with the objective of showcasing the benefits of Commodity Futures

Market to the farmers by means of exhibits and audio-visual presentations. The Exhibitions

included the 2nd

International Horti expo 2009 at Pragati Maidan, New Delhi from 5-7 June 2009,

the Agro- Horticulture festival at Cochin from 28-31 August 2009, the 97th Indian Science

Congress Expo 2010 at Trivandrum from 3rd

– 7th January, 2010. The Commission along with the

National Exchanges participated in the Exhibitions by setting up a stall on benefits of commodity

futures market to farmers. The stall attracted a lot of visitors who were able to remove their mis-

perceptions about the functioning and the impact of the market.

11

1.14.9. Meetings with Stakeholders

The Commission conducted various meetings with different category of stakeholders of

the futures market to take feed back from them to improve the functioning of the futures markets.

The inputs received during these meetings were utilized while framing the regulatory policies in

the Commission. Such eight meetings were conducted during the year for various stakeholders of

the Commodity Futures Market, including members of national exchanges; Agriculture Sector

based corporate entities, farmer leaders and farmer opinion makers. These meetings served as an

interface between the FMC, the exchanges and the market users to facilitate coordinated efforts for

developing the commodity futures market.

1.15 Inspection of books of accounts of Exchanges and their members:

The Commission has been inspecting the books of accounts of the Exchange –Members,

particularly of National level Commodity Exchanges, viz. MCX, Mumbai, NCDEX, Mumbai and

NMCE, Ahmedabad on a regular basis since 2006-07. During the year 2009-10, 298 new audits in

the case of members of National Commodity Exchanges were assigned. Besides, audit of 3

National Exchanges and 14 Regional Exchanges were also assigned to the auditors.

12

CHAPTER II

DEVELOPMENTS IN THE COMMODITY DERIVATIVE MARKET 2009-10

2.1 During the year 2009-10, forward trading in 109 commodities, as given in Annexure I,

was regulated at the 4 national exchanges, viz. Multi Commodity Exchange, Mumbai; National

Commodity and Derivatives Exchange, Mumbai, National Multi Commodity Exchange,

Ahmedabad and Indian Commodity Exchange, Gurgaon. Besides, there are 17 regional exchanges

recognized for regulating trading in various commodities approved by the Commission under the

Forward Contracts (Regulation) Act, 1952.

2.2 The National Exchanges, with the adoption of modern technology, have spread the facility

of commodity futures trading across the country. The total value of trade for the entire financial

year 2009-10 was Rs. 77.65 lakh crore as against Rs.52.49 lakh crore in the preceding financial

year, registering a growth of 47.93%. Bullion, base metals, energy products and agricultural

commodities were the major group of commodities traded at the exchanges. Amongst these, gold,

silver, copper, lead, Nickel, zinc, chana, soy oil, guarseed, jeera, pepper and energy products were

prominent commodities traded during the year. The year 2009-10 saw the resurgence of

agriculture commodities in the commodity futures platform. The total value of trade in agricultural

commodities during the year was Rs. 12.18 lakh crore as against Rs. 6.27 lakh crore in 2008-09

indicating a growth of 94.26% over the year. During the period, futures trading was permitted in

the following new commodities viz: Almond, and Menthol Flakes (MCX Mumbai), Platinum,

Natural Gas, Gasoline, Short Term CER Certified Emission Reduction, Heating Oil, and Lead

(NCDEX, Mumbai).

2.3 During 2009-10, the Commission focused its activities on the regulation of futures trading

in commodities, spreading awareness amongst the various stakeholders through various awareness

and capacity building programmes and initiation of the Price Dissemination Project at APMC

Mandis. The Commission also took steps to promote the participation of hedgers through a series

of regulatory and developmental initiatives.

2.4 In the coming years, the priority of the Commission will be to consolidate the market;

strengthen regulation to generate confidence amongst the participants and keep the market free

from manipulation and abuses; increase awareness of the stakeholders especially the farmers;

empower the farmers with price information and identify, encourage and facilitate intermediaries

such as aggregators to facilitate the participation of farmers in the market for hedging.

2.5 The endeavor of the Commission has been to prevent market manipulation and ensure

market integrity, financial integrity and customer protection. Inspite of severe resource constraint,

especially in terms of manpower, the Commission is trying its best to achieve these objectives.

The important developments in the commodity derivative market during 2009-10 are

enumerated below:

2.6 Important Developments in the Commodity Derivative Markets:

2.6.1 During 2009-10, forward trading was regulated in 109 commodities at 21 recognized

exchanges. The break up of the total value of commodities traded stood as under-

• Bullion - Rs.31.64 lakh crore. (40.75%)

• Base metals - Rs.18.02 lakh crore. (23.20%).

• Energy products - Rs.15.78 lakh crore (20.32%)

• Agricultural commodities-Rs.12.18 lakh crore (15.69%).

13

2.6.2 Out of 21 recognized exchanges, Multi Commodity Exchange (MCX), Mumbai, National

Commodity and Derivatives Exchange (NCDEX), Mumbai, National Multi Commodities

Exchange, (NMCE), Ahmedabad, Indian Commodity Exchange, Ltd., Gurgon, National Board of

Trade (NBOT), Indore, contributed 99.62% of the total value of the commodities traded during the

year.

2.6.3 The share of various Exchanges in the total value of trade in 2009-10.

Value of the recognized Exchanges during 2009-10

Name of the

Exchanges

Value in Rs. cr. % share to

the total

value of the

commodities

traded

during

2009-10

MCX 6393302.17 82.34

NCDEX, Mumbai 917584.71 11.82

NMCE,

Ahmedabad 227901.48 2.94

ICEX, Gurgaon 136425.36 1.76

NBOT, Indore 60449.52 0.78

Total of five

Exchanges 7735663.24 99.64

Others 29090.81 0.36

Grand Total 7764754.050 100

%share of the commodity exchanges to the total value of

commodities traded

82.34

11.82

2.94

0.360.781.76

MCX, Mumbai NCDEX, Mubai

NMCE, Ahmedabad ICEX, Gurgaon

NBOT, Inore others

2.7 Regulatory initiatives taken by the Forward Markets Commission:

2.7.1. Grant of Recognition/Renewal of recognition to the recognized Associations/

Exchanges and grant of permissions to trade in the commodities;

14

a) Grant of recognition to ICEX:

On the recommendations of the Forward Market Commission, the Ministry of Consumer

Affairs, Food and Public Distribution, Government of India, on 9th October 2009, granted

recognition to M/s. Indian Commodity Exchange Limited (ICEX), NCR, Gurgaon, on permanent

basis in respect of forward contracts in all the commodities in which Section 15 is applicable and

the commodities to which neither Section 17 nor Section 15 of the FC (R) Act, 1952 is applicable,

with the prior permission of the FMC.

b) Renewal of recognition:

During the year, on the recommendations of the Commission, the Government of India

renewed the recognition of the following Associations / Exchanges.

S.

No.

Name of the Exchange Period of renewal of

recognition &

commodities permitted

Date

1 National Board of Trade, Indore 1.6.2009 to 28.2.2010

Soybean, refined Soy oil

and Soy meal

25th May 2009

2 Bikaner Commodity Exchange

Ltd., Bikaner

20.1.2010 to 19.1.2011

Guarseed

6th January,2010

3 Rajkot Commodity Exchange

Ltd.,Rajkot

15.3.2010 to 14.3.2011

Soybean oil

10th February,2010

4 Rajkot Commodity Exchange

Ltd.,Rajkot

1.4.2010 to 31.3.2013

castorseed

15th February,2010

5 National Board of Trade, Indore 1.3.2010 to 30.6.2010

Soybean, refined Soy oil

and Soy meal

22nd February,2010

6 The Surendranagar Cotton Oil &

Oilseeds Association Ltd.,

Surendranagar

1.4.2010 to 31.3.2013

Kapas

3rd March,2010

7 East India Jute & Hessian

Exchange Ltd., Kolkata

1.4.2010 to 31.3.2011

Jute goods : Hessian &

Sacking (TSD)

7.4.2010 to 6.4.2011

Raw Jute (futures)

8th March,2010

8 Bhatinda Om & Oil Exchange Ltd.,

Bhatinda

Recommended not to renew

the recognition

23rd March,2010

c) Derecognition of the Bhatinda Om and Oil Seeds Exchange Ltd., Bhatinda:

On the recommendations of the Forward Markets Commission, the Government of India

allowed the recognition of the Bhatinda Om and Oil Seeds Exchange Ltd., Bhatinda to lapse after

31st March 2010. With this, the total number of recognized exchanges as on 31

st March 2010

15

becomes 21 out of which 17 are regional based exchanges and 4 are National Multi Commodity

Exchanges. The list of recognized exchanges is at Annexure II.

d) Renewal of Registration of the Commodity Exchanges:

The Commission, in exercise of its powers conferred under Section 14(B) of the Forward

Contracts (Regulation) Act, 1952, extended the period of registration of the following associations

/ Exchanges analogous to the period of recognition.

S. No. Name of the Exchange Period of renewal of

registration &

commodities permitted

Date

1 The Haryana Commodities Ltd.,

Sirsa

13.1.2009 to 12.1.2012

Mustardseed

1.11.2008 to 31.10.2011

(Cottonseed oil cake )

2nd

June, 2009

2 First Commodity Exchange of

India Ltd., Kochi

1.2.2009 to 31.1.2012

Coconut oil, Copra & its oil

cake

21st July, 2009

3 Bikaner Commodity Exchange

Ltd., Bikaner

20.1.2007 to 19.1.2010

Guarseed, Guargum & gram

21st July, 2009

4 National Board of Trade, Indore 1.6.2009 to 28.2.2010

Soybean, refined Soy oil

and Soy meal

21st July, 2009

5 East India Jute & Hessian

Exchange Ltd., Kolkata

1.4.2009 to 31.3.2010

Jute goods : Hessian &

Sacking(TSD)

7.4.2009 to 6.4.2010

Raw Jute (futures)

18th August, 2009

e) The Commission granted fresh permission to trade in newly introduced futures contracts.

Viz Almond, Yellow Peas, Potato at MCX, Mumbai and Platinum, Mentha oil, Gasoline, Heating

Oil an LED at NCDEX, Mumbai.

f) The Commission granted permission for trading in commodities to recognized

Associations/Exchanges as detailed in Annexure III(A) & (B).

2.7.2 (a) Suspension of futures contracts in sugar.

Considering the concerns of the Govt. about the escalating prices of sugar and to address

the perception in certain quarters, that futures trading leads to price rise, the FMC as a measure of

abundant caution suspended the futures trading in sugar from 26.05.2009 to 31.12.2009 and

directed the Exchanges not to launch new sugar contracts Suspension was later, further extended

till 30th September 2010.

(b) Revoking suspension of futures trading in Wheat.

The futures trading in wheat, which was suspended on 27

th February 2007, was restored by

the FMC on 15th May 2009.

16

2.7.3 Revision in Regulatory Measures:

The Commission kept a close watch on the trading activities and took necessary action by

way of revising from time to time regulatory measures such as revision in the limit on open

position, daily price limits, imposition of additional margin etc.

A. Revision in limit on open position:

(a) Fixation of near month position limits in sugar M and Sugar S:

In order to control the holding position of the market participants following shortage of

sugar the Commission on 4.5.2009 fixed near month limits of 6000 MT for both Sugar M and S

contracts traded at the National Exchanges for implementation with effect from 21st May, 2009.

(b) Fresh Positions in internationally referenceable contracts:

The Commission examined the proposal to allow members to take fresh position during

the delivery period till the expiry of the contract and permitted them to take that fresh position in

internationally referenceable commodities during the delivery period till the date of expiry

of the contact. Since settlement prices of international reference able commodity contracts are

fixed on the basis of international prices, the Commission on 5.6.2009 allowed members of

National Commodity Exchange, to take fresh positions in internationally referenceable

commodities viz. Platinum, CER, CFI, ATF,CPO, Gold HNI, Silver, Mini/HNI, Heating Oil,

Gasoline, Gold International and Silver International till the date of expiry of these contracts.

(c) Revision in position limits for NAFED:

The Commission, to encourage participation of NAFED in futures trading in agricultural

commodities with the intention of transferring the benefits of futures trading to farmers issued

guidelines on 30th June, 2009 for allowing separate position limits to the NAFED and its branches

for implementation with effect from August 2009. Guidelines issued in this connection are given

in Annexure IV.

(d) Increase in the open position limits in Cotton Long Staple contract:

The Commission, on 1st February 2010, revised the open position limits for aggregate and

near month futures contract of Cotton Long Staple for implementation with effect from 1st

March 2010.

Commodity Unit Open Interest Limits

Aggregate (all

contract) months

Delivery (near)

month

Member Client Member Client

Cotton Long

Staple

Bales

(170

Kg.)

1,50,000 or

15% of the

market

wide open

position

whichever

is higher

50,000 30,000 or

15% of the

market

wide open

position

whichever

is higher

10,000

(e) Prescription of absolute limits on open position for Copper and Nickel contracts:

The Commission on 17th February, 2010 prescribed absolute limits on open position in

respect of Copper and Nickel contracts for implementation with effect from 1st March 2010.

17

Commodity Aggregate OI (MT)

Member Client

Copper 6000 MT or 15% of the market

wide open position whichever is

higher

2000 MT

Nickel 600 MT or 15% of the market

wide open position whichever is

higher

200 MT

Earlier only market wide open position limits were in existence in these contracts.

(f) Change in the open position limits in Wheat contract:

The Commission, on 3rd

March 2010, revised the open position limits for aggregate and

near month futures contract of Wheat for implementation with effect from 1st April 2010.

Commodity Open Interest Limits (MT)

Aggregate (all contract) months Delivery (near) month

Member Client Member Client

Wheat 40,000 or 15%

of the market

wide open

position

whichever is

higher

8,000 15,000 or 15%

of the market

wide open

position

whichever is

higher

3,000

(g) Change in open position limit in Crude Palm Oil contract:

The Commission, on 8th March 2010, revised the open position limits for aggregate and

near month futures contract of Crude Palm Oil for implementation with effect from 1st April 2010.

Commodity Aggregate OI limits (In MT) Near month OI limits (In MT)

Member Client Member Client

Crude Palm

Oil

60,000 or 15%

of the market

wide open

position

whichever is

higher

20,000 18,000 or 15% of

the market wide

open position

whichever is

higher

6,000

(h) Hedge positions on the short side to the processors

After examining the request of the two processors viz., Tinna Oil and Chemical Ltd. and

ITC Limited for granting hedge exemptions on the short side in Soybean, the Commission, on 17th

November 2009 granted hedge exemptions on the short side to the said processors, subject to

certain conditions for the 2008-2009 season till 31st March 2010.

B. Changes in the daily price limit of Expansion of CPO contracts:

The Commission examined the daily price fluctuation in the CPO contract, and on 4th

August 2009, increased the limit on daily price fluctuation in respect of CPO contracts traded at

MCX and NMCE to 3% initially and with a break of 15 minutes to 1% more (3%+1%=4%).

C. Imposition of additional margins in Potato hedge contracts.

18

Considering the volatility in the prices of Potato, the Commission on 24

th July 2009

imposed an additional special margin of 20% on traders with long position on all running contracts

of Potato and the contracts yet to be launched in the said commodity. This margin was to be

collected in cash. The directives were made effective from 27th July 2009.

D. Extension of Early Delivery System

The Commission on 27th August 2009, after considering the requests of the National

exchanges, extended the benefits of Early Delivery System to the Guarseed contracts with effect

from the date of the contracts expiring from October 2009.

2.7.4 Upgradation and transformation of Ahmedabad Commodity Exchange

The Commission, on 14th May 2009, conveyed the in-principle approval of the

Government to the Ahmedabad Commodity Exchange, Ahmedabad for its upgradation and

transformation to the status of a Multi Commodity National Exchange, as Ahmedabad Commodity

Exchange Limited (“new company”) subject to certain conditions. Some of the main conditions

imposed were as follows:

(i) The authorized equity share capital of the new company not to be less than Rs.100

crore,

(ii) The equity fund of the company (paid up equity capital and share premium paid in

cash only) to be not less than Rs.100 crore,

(iii) The subscribed and paid up equity capital to be not less than Rs.50 crore,

(iv) Allocation of the equity shares to the existing members to be restricted to a

maximum of 23% before recognition and subject to certain conditions,

(v) Atleast 26% equity capital to be allotted to entities mentioned in 5.3(a) and

5.3(b)(ii) of the of the Guidelines for new National Exchanges dated 14th May 2008,

(vi) No individual to hold more than 1% of the paid up equity capital of the Exchange

and the total of such individual holdings not to exceed 25% of the paid up capital of the

New Company,

(vii) The shareholding of anchor investor, i.e. M/s. Kotak Mahindra Bank Ltd., either

individually or together with persons acting in concert with it, to be not more than 51% at

the time of recognition of the Exchange as a multi commodity National Exchange. Which

would be brought down to 40% within one year from the date of recognition and further to

26% or less within two years beginning with the 4th year from the date of recognition of

the Exchange and, thereafter, to a level as may be specified in by the Government/FMC

from time to time,

(viii) Shareholding of the following categories of shareholders in the Exchange to the

extent indicated below to be subject to a lock-in period of 3 years from the date of

recognition as a multi-commodity National Exchange:

(a) Anchor-Investor to the extent of 40%,

(b) Other shareholders other than member – shareholders.

(ix) Each Investor in the new company to be a fit and proper person. The criteria for

fit and proper person would be as specified in the guidelines for new National Commodity

Exchanges dated 14.5.2008,

(x)Settlement Guarantee Fund and Investor Protection Fund to be created as per the

guidelines by the FMC issued from time to time.

19

2.7.5 Guidelines for Equity Structure of National Commodity Exchanges:

With the approval of the Ministry, the Commission on 4th August 2009 issued guidelines

on the equity structure of the Nationwide Multi-Commodity Exchanges after 5 years of their

operation.The Guidelines for grant of recognition to the new national commodity exchanges and

the guidelines on the equity structure of nationwide multi commodity exchanges after five years of

their operation are at Annexure V-A & B.

2.7.6 Guidelines on Dealings in Cash with Members

The Commission, on 23rd

July 2009, issued the following directions to all National

Commodity Exchanges with respect to dealing in cash with the members.

(i) Members should not accept cash from the client whether against obligations or

as margin money for trading in commodity derivatives,

(ii) All payments should be received /made by the members from/to the clients

strictly by account payee crossed cheques/ demand drafts or by way of direct credit into

the bank account through EFT, or any other mode allowed by RBI. The members should

accept the cheques drawn only by the clients and also issue cheques in favour of the

clients only, for their transactions. However, in exceptional circumstances, the members

may receive the amount in cash to the extent not in violation of the provisions of Income

Tax Act, as may be in force from time to time.

(iii) The Exchanges should make necessary amendments to their relevant bye-laws,

rules and regulations and circulars for the implementation of the above directions

immediately, and, prescribe suitable penal action for the violation of the above provisions,

2.7.7 Uniform Penalty for National Exchanges:

The Commission examined the penalties imposed by the National Exchanges on the

members for various irregularities, shortcomings and thereafter rationalized the entire penalty

structure. A two– pronged approach was followed, i.e. it was ensured that the penalties would be

adequate so to act as a deterrent and would be uniform across the exchanges so as to rule out the

possibility of regulatory arbitrage. Special attention was paid to the penal provisions related to

client protection. The Commission, on 5th March 2010, notified the uniform penalty structure for

proper regulation of the markets in an equitable manner and to discourage malpractices. In

addition to the financial penalties, the Exchanges were also directed to deactivate the trading

terminals of the members and initiate disciplinary measure, which may culminate into suspension

of membership.

The Commission felt that the interest of market participants would be well served in case

the uniform penalty structure is implemented in its true spirit by the Exchanges. The details of

penalties are annexed at Annexure VI.

2.7.8 No extension of Trade Timing due to Sun Outage

The Commission, on 18th September, 2009, directed all National Multi Commodity

Exchanges to decide upon the suspension of the trading during ‘Sun Outage’, taking in

consideration the connectivity used by the Exchange and its members during the period from 22nd

September 2009 to 9th October 2009 (both days inclusive). However, there would be no extension

of the trade timings beyond normal timings in that period.

2.7.9 Exchange of Futures for Related Physicals (EFP)

The Commission on 12th October 2009 approved the proposal of the MCX for

introduction of EFP transactions. The EFP scheme was approved for implementation in Gold and

20

Gold Mini, Silver and Silver Mini, Copper, Zinc, Nickel, Lead, Aluminums, Chana, Mentha Oil

and Wheat contracts w.e.f. 1st November 2009.

2.7.10 Alternate Futures Settlement transactions

The Commission on 12th October 2009 approved the proposal of the NCDEX for

introduction of Alternate Futures Settlement transactions in five commodities viz., Soybean, Steel,

Guarseed, Rape/mustardseed and Cotton w.e.f. 1st November 2009.

2.7.11 Inactive Client Account

After inspection of the members of the National Exchanges it was observed by the

Commission that there were large number of inactive clients and there was lack of awareness

about when to consider an account as “inactive”. The Commission, therefore, on 7th December

2009, re-iterated its earlier directives with regard to inactive client accounts and directed, inter

alia, that those clients who have not operated their account during the last six months may be

considered as inactive client.

2.7.12 Registration of Members of the recognized Exchange:

The system of membership registration continued during the period. The total number of

members registered up to March 2010 was 4809. The total number of intermediaries registered up

to March 2010 was 206, of which 33 were warehouses and 173 were others (viz. Depository

Participants, Clearing Banks, Assayers & others).

2.8 Developmental Measures:

The developmental measures taken by FMC during the year aimed at;

� Strengthening regulatory mechanism by regular interaction with various market

constituents and entering into international collaborations.

� Increasing participation in the market by creating awareness of the practices prevalent and

the economic functions of the market.

� Building the capabilities of the futures industry in the country by attracting trained

manpower.

� The developmental initiatives of the FMC comprise conducting of awareness

programmes, meetings with stakeholders, conducting training programmes, tie ups with

educational institutions, conducting studies and collaboration with international regulators.

2.8.1 Meeting with the various stakeholders/conferences:

The Commission conducted various meetings with different category of stakeholders of

the futures market to take feed back from them to improve the functioning of the futures

markets. The inputs received during these meetings were utilized while framing the regulatory

policies in the Commission. Some important meetings held are as under:

� A meeting with the South Zone Members of the National Exchanges was held on 3rd

July

2009 concerning members from the states of Karnataka, Kerala, Tamil Nadu and Andhra

Pradesh.

� A meeting with the West Zone Members of the National Exchanges was held at Mumbai

on 31st July 2009. The meeting was attended by senior officers of FMC, the top

management teams of the three National Exchanges and 30 members of the National

Exchanges functioning in the State of Maharashtra, Gujarat and Madhya Pradesh.

� A meeting with the corporate entities in the Agri-Business sector was held at Hyderabad

on 28th October 2009 to get their feedback on the benefits that had accrued to the

21

participants by hedging on the exchange platform and the policy initiatives required for

enhancing their participation.

� A conference of prominent farmer representatives and farmer opinion makers was

organized at New Delhi on 24.11.2009, to brief them about the functioning of the

Commodity Futures Market and to elicit their views on how farmers can benefit from this

market.

� A meeting with the East Zone Members of the National Exchanges was held at Kolkata

on 18th February 2010 concerning members from West Bengal. The Meeting was

attended by senior officers of the FMC and the National Exchanges.

� A meeting of the FMC and the National Exchanges with the trade and Manufacturers’

Association was held at Mumbai on 22nd

March 2010. The meeting was attended by

representatives of trade and manufacturers association.

� A meeting with the National Commodity Exchanges viz. MCX, NCDEX, NMCE, ICEX

corporate sector (Metals) members of National Commodity Exchanges and the Forward

Market Commission was held at Mumbai on 26th March 2010. A meeting was attended by

the representatives of 15 corporate representatives from metal sectors, representatives of

the National Commodity Exchanges and the senior officers of the FMC.

� The Forward Markets Commission, in association with the National Commodity

Exchanges, organized a meeting with the members of the North Zone on 30th March 2010

at New Delhi. A meeting was attended by the representatives of the exchanges, members

of the exchanges and the officers of the FMC.

� An interactive meeting with Members of Parliament was organised by the Consortium of

Indian Farmers Association (CIFA) to discuss developments in the commodity futures

market at New Delhi on 1st December, 2009. The Forward Markets Commission and the

National Exchanges were also invited to make presentation in the meeting. A detailed

presentation on the impact of commodity futures market on pricing of agricultural produce

was made to the participants.

2.8.2 Awareness programmes.

During 2009-10, 515 awareness programmes were organized for various participants such

as farmers, processors, exporters; banks warehouse officials, cooperatives, members of exchanges

and their clients. Of these 423 were exclusively for farmers. During 2008-09, 197 awareness

programmes were held, out of which 107 were exclusively held for the farmers. Details of

awareness programmes held during 2009-10 are given in Annexure VII –A & B.

2.8.3 Training/Capacity Building Programmes:

The Commission has tied up with various training institutions for conducting training to

various segments of the trade. During the 2009-10, 63 training programmes were held for the

benefit of various functionaries and three programmes were held for FMC Officers and staff. The

details of the capacity building programmes held for various functionaries are given in Annexure

VIII.

2.8.4 Monitoring of commodity trading by the Commission:

The Commission keeps a close watch on the day to day trading activities of the members

of the Exchanges. Necessary clarifications are sought from the concerned Exchanges as and when

required.

2.9 Inspection of books of accounts of Exchanges and their members:

The Commission has been inspecting the books of accounts of the Exchange Members

particularly of 3 National level Commodity Exchanges, viz. MCX, Mumbai, NCDEX, Mumbai

and NMCE, Ahmedabad on a regular basis since 2006-07. During the F.Y. 2009-10, 298 new

22

audits of members of the National Commodity Exchanges were assigned. Besides, audit of 3

National Exchanges and 14 Regional Exchanges was also assigned to the Auditors.

2.10 Attending to Client Complaints/Grievances

The Commission receives complaints from the clients registered with the Exchange

Members alleging unauthorized trades being executed by the Members in their account, contract

notes/account statements not being received from the members, misutilisation of clients’ money

etc. The complaints are forwarded to the respective exchanges for settling the grievances of the

clients expeditiously. During the year 2009-10, 55 complaints were redressed. During the same

period 90 fresh complaints were received. Several guidelines were issued to the Exchanges to

streamline their systems of redressal of clients grivences.

23

CHAPTER III

COMMODITY FUTURES MARKET IN 2009-10– A REVIEW

The Indian Commodity Futures Markets continued to grow, despite the suspension of

futures trading in a few agricultural commodities. During the year 109 commodities were

regulated under the auspices of the recognized Exchanges. During 2009-10, 21 recognized

exchanges were functioning. Out of the 109 commodities, regulated by the FMC, in terms of value

of trade, Gold, Silver, Copper, Nickel, Zinc, Lead, Guarseed, Soy Oil, Chana, Jeera and Guargum

were the prominently traded commodities.

Volume of Trading and Value of Trade during the year 2009-10 at Major

Commodities

Volume of Trading – In lakh tonne

Value - In Rs. Crore

Sr.No Name of the Commodity 2009-10

Volume Value

A Bullion

i Gold 0.126 1997801.0961

ii Silver 4.600 1165728.5591

iii Platinum 0.000 622.5880

Total for A 4.73 3164152.24

B Metals other than Bullion

i Aluminium 57.38 53904.46

ii Copper 325.81 942590.17

iii Lead 244.50 240268.62

iv Nickel 33.79 284601.94

v Sponge Iron 0.00 0.00

vi Steel 35.94 8813.97

vii Tin 0.02 132.84

viii Zinc 284.48 271324.32

Total for B 981.92 1801636.31

C Agricultural commodities

i Chana/Gram 530.42 127950.47

ii Urad 0.00 0.00

iii Tur 0.00 0.00

iv Wheat 31.77 4015.01

v Rice 0.00 0.00

vi Maize 8.41 790.56

vii Soy Oil 500.62 235605.92

viii Mentha Oil 2.31 13173.04

ix Guarseed 1226.69 283431.09

x Guar Gum 59.46 29593.86

xi Potato 61.63 4575.74

xii Chillis 3.68 1998.17

xiii Jeera(Cuminseed) 26.50 33720.04

xiv Cordmom 0.28 2503.69

xv Pepper 19.61 27705.73

xvi Rubber 5.81 7123.20

xvii other agri 1514.02 445762.51

24

Volume of Trading and Value of Trade during the year 2009-10 at Major

Commodities

Volume of Trading – In lakh tonne

Value - In Rs. Crore

Sr.No Name of the Commodity 2009-10

Volume Value

Total for C 3991.21 1217949.04

D Energy 5162.95 1577882.06

E Plastic 0.00 0.00

F Other 2.12 3134.40

Grand Total (A+B+C+D+E+F) 10142.93 7764754.05

Note: Natural Gas, Electricity & Heating Oil Volumes are not included in the Total

Volume because Volumes in Natural Gas in mmBtu, Electricity in MW & Heating Oil

in USGLN at MCX, Mumbai.

The details of major commodities traded in the top 4 Commodity Exchanges which

accounted for 99 of the total value of trade in 2009-10 are given below:-

I) MULTI COMMODITY EXCHANGE OF INDIA, MUMBAI (MCX)

During 2009-10, MCX accounted for 82.34% of the total value of trade in the commodity

market. In actual terms the total value of trade in the MCX was Rs. 63.93 lakh crore. During the

year, 43 commodities were traded at the MCX platform. Amongst which predominant

commodities traded during the year were Gold, Crude Oil, Silver, Copper, Natural Gas, Nickel

and Zinc. The total value of trade and percentage share of each of these predominantly traded

commodities at MCX, Mumbai in 2009-10 is given below:

Total volume and value of trade at MCX- 2009-2010

S.No Commodity Vol-L.T Value-Ra.

Crs

share of

value to

total

1 GOLD 0.12 1922207.39 30.07

2 CRUDE OIL 5023.45 1219045.51 19.07

3 SILVER 4.51 1141707.31 17.86

4 COPPER 313.55 903409.43 14.13

5 NATURAL GAS 15857256250 @ 322249.15 5.04

6 NICKEL 32.71 275277.35 4.31

7 ZINC 272.95 260172.12 4.07

8 OTHERS 501.75 349233.91 5.46

TOTAL 6149.034 6393302.17 100.00

@ Volume of trading of Natural Gas not included in the total as the Unit of trading is in mmBtu.

25

The graphical presentation of the percentage share of the prominently traded commodities at MCX

Mumbai is given below.

% share of the commodities traded at the MCX, Mumbai

Nickel

4%

Natural Gas

5%

Copper

14%

Silver

18%

Crude oil

19%

Gold

31%

Zinc

4%

Other

5%

Gold Crude oil Silver Copper

Natural Gas Nickel Zinc Other

i) Gold:

The ready price of Gold, which was quoted at Rs. 15066.00 per 10 gm on 31.03.2009 rose

to Rs. 16300.00 on 31.03.2010, showing a rise of 8.19%. In the futures section, the price which

was quoted at Rs.15132.00 per 10 gm (April 2009 contract) on 31.03.2009 rose to Rs.16295.00

(April 2010 contract) per 10 gm on 31.03.2010 showing a rise of 7.69%.

The graph indicating the trend of ready and future prices of gold at MCX, Mumbai is

given below.

Spot & Futures prices of Gold at MCX

14000

14500

15000

15500

16000

16500

17000

17500

18000

31-M

ar-

09

14-A

pr-

09

28-A

pr-

09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-

09

27-O

ct-

09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-

10

16-M

ar-

10

30-M

ar-

10

Rs. p

er

10 G

m

SPOT 4-Apr-09 5-Jun-09 5-Aug-09 5-Oct-09 5-Dec-09 5-Feb-10 5-Apr-10 5-Jun-10

5-Aug-10 5-Oct-10

The total quantity traded on the Exchange for all contracts of Gold traded was 0.121 Lakh

tonnes valued at Rs. 1922207.390 crore.

ii) Crude Oil

The ready price of Crude Oil, which was quoted at Rs. 2473.00 per Barrel on 31.03.2009

rose to Rs. 3702.00 on 31.03.2010, showing a rise of 49.70%. In the futures section, the price

26

which was quoted at Rs. 2481.00 per Barrel (April 2009 contract) on 31.03.2009 rose to

Rs.3751.00 (April 2010 contract) per Barrel on 31.03.2010 showing a rise of 51.19%.

The graph indicating the trend of ready and future prices of Crude Oil at MCX, Mumbai is

given below.

Spot & Futures prices of Crude Oil at MCX

2250

2500

2750

3000

3250

3500

3750

4000

31-M

ar-09

14-A

pr-09

28-A

pr-09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-09

27-O

ct-09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-10

16-M

ar-10

30-M

ar-10

Rs. per Barrel

SPOT 15-Apr-09 15-May-09 15-Jun-09 15-Jul-09 14-Aug-09 21-Sep-09

19-Oct-09 19-Nov-09 18-Dec-09 19-Jan-10 19-Feb-10 19-Mar-10 19-Apr-10

19-May-10 21-Jun-10 19-Jul-10 19-Aug-10 20-Sep-10

The total quantity traded in Crude Oil was 5023.451 lakh tonnes valued at Rs.

1219045.513 crore.

iii) Silver

The ready price of Silver, which was quoted at Rs. 21890.00 per kg on 31.03.2009 rose to

Rs. 26875.00 on 31.03.2010, showing a rise of 22.77%. In the futures section, the price which was

quoted at Rs. 21855.00 per kg (May 2009 contract) on 31.03.2009 rose Rs. 26935.00 per kg (May

2010 contract) on 31.03.2010 showing a rise of 23.24%.

The graph indicating the trend of ready and future prices of Silver at MCX, Mumbai is

given below.

Spot & Futures prices of Silver at MCX

20000

22500

25000

27500

30000

31-M

ar-

09

14-A

pr-

09

28-A

pr-

09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-

09

27-O

ct-

09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-

10

16-M

ar-

10

30-M

ar-

10

Rs. p

er

Kg

SPOT 5-May-09 4-Jul-09 5-Sep-09 5-Dec-09 5-Mar-10 5-May-10 5-Jul-10 4-Sep-10 4-Dec-10

The total quantity traded in all contracts of silver was 4.508 Lakh tonnes valued at Rs.

1141707.307 crore.

27

iv) Copper

The ready price of Copper, which was quoted at Rs. 198.85 per kg on 31.03.2009 rose to

Rs. 353.05 on 31.03.2010, showing a rise of 77.55%. In the futures section, the price which was

quoted at Rs. 207.10 per kg (April 2009 contract) on 31.03.2009 rose to Rs. 351.35 per kg (April

2010 contract) on 31.03.2010 showing a rise of 69.65%.

The graph indicating the trend of ready and future prices of Copper at MCX, Mumbai is

given below.

Spot & Futures prices of Copper at MCX

150

200

250

300

350

400

31-M

ar-

09

14-A

pr-

09

28-A

pr-

09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-

09

27-O

ct-

09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-

10

16-M

ar-

10

30-M

ar-

10

Rs. p

er

Kg

SPOT 30-Apr-09 30-Jun-09 31-Aug-09 30-Nov-09 26-Feb-10 30-Apr-10 30-Jun-10 31-Aug-10

The total quantity traded in Copper contracts was 313.546 lakh tonnes valued at Rs.

903409.430 crore.

v) Natural Gas

The ready price of Natural Gas, which was quoted at Rs. 191.00 per mmBtu on

31.03.2009 declined to Rs.178.50 on 31.03.2010, showing a fall of 6.54%. In the futures section,

the price which was quoted at Rs. 190.90 per mmBtu (April 2009 contract) on 31.03.2009

declined to Rs.177.60 per mmBtu (April 2010 contract) on 31.03.2010 showing a fall of 6.97%.

The graph indicating the trend of ready and future prices of Natural Gas at MCX, Mumbai

is given below.

Spot & Futures prices of NATURAL GAS at MCX

125

150

175

200

225

250

275

300

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

Rs

. p

er

mm

Btu

SPOT 20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 25-Sep-09 27-Oct-09 23-Nov-09

28-Dec-09 25-Jan-10 23-Feb-10 26-Mar-10 27-Apr-10 25-May-10 25-Jun-10

28

The total quantity traded in Natural Gas contracts was 15,857,256,250 mmBtu valued at

Rs. 322249.149 crore.

vi) Nickel

The ready price of Nickel, which was quoted at Rs. 479.10 per kg on 31.03.2009 rose to

Rs. 1125.00 on 31.03.2010, showing a rise of 134.96%. In the futures section, the price which was

quoted at Rs. 479.10 per kg (March 2009 contract) on 31.03.2009 rose to Rs. 1125.20 per kg

(March 2010 contract) on 31.03.2010 showing a rise of 134.86%.

The graph indicating the trend of ready and future prices of Nickel at MCX, Mumbai is

given below.

Spot & Futures prices of Nickel at MCX

400

500

600

700

800

900

1000

1100

1200

31-M

ar-09

14-A

pr-09

28-A

pr-09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-09

27-O

ct-09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-10

16-M

ar-10

30-M

ar-10

Rs. per Kg

SPOT 31-Mar-09 30-Apr-09 29-May-09 30-Jun-09 31-Jul-09

28-Aug-09 30-Sep-09 30-Oct-09 30-Nov-09 31-Dec-09 29-Jan-10

26-Feb-10 31-Mar-10 30-Apr-10 28-May-10

The total quantity traded in Nickel contracts was 32.710 lakh tonnes valued at Rs.

275277.347 crore.

vii) Zinc

The ready price of Zinc, which was quoted at Rs. 66.25 per kg on 31.03.2009 rose to Rs.

106.50 on 31.03.2010, showing a rise of 60.75%. In the futures section, the price which was

quoted at Rs. 66.25 per kg (March 2009 contract) on 31.03.2009 raised Rs. 106.45 per kg (March

2010 contract) on 31.03.2010 showing a rise of 60.68%.

The graph indicating the trend of ready and future prices of Zinc at MCX, Mumbai is

given below.

29

Spot & Futures prices of Zinc at MCX

65

75

85

95

105

115

125

31-M

ar-

09

14-A

pr-

09

28-A

pr-

09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-

09

27-O

ct-

09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-

10

16-M

ar-

10

30-M

ar-

10

Rs. p

er

Kg

SPOT 31-Mar-09 30-Apr-09 29-May-09 30-Jun-09 31-Jul-09 28-Aug-09 30-Sep-09

30-Oct-09 30-Nov-09 31-Dec-09 29-Jan-10 26-Feb-10 31-Mar-10 30-Apr-10 28-May-10

The total quantity traded in Zinc contracts was 272.947 lakh tonnes valued at Rs.

260172.120 crore.

II) THE NATIONAL COMMODITY & DERIVATIVES EXCHANGE LTD., MUMBAI

(NCDEX)

During 2009-10, NCDEX, Mumbai accounted for 11.82% of the total value of trade in the

commodity market. In actual terms the total value of trade in the NCDEX, Mumbai was Rs.9.18

lakh crore. During the year, 40 commodities were traded at NCDEX, Mumbai. Amongst which

prominent commodities traded during the year were Guar Seed, Soya Oil, Chana, Soyabean, Rape

Seed/Mustard Seed, Turmeric and Jeera at NCDEX, Mumbai. The total value of trade and the

percentage share of each of these commodities to the total value of trade at NCDEX, Mumbai is

given below.

Total volume and value of trade at NCDEX- 2009-2010

S.No Commodity Volume

(lakh tones)

Value

(Rs. Crore)

% Share Of

Value to Total

Value

1 GUAR_SEED 1115.25 258031.27 28.12

2 SOYA_OIL 289.66 136651.76 14.89

3 CHANA 439.37 106295.87 11.58

4 SOYABEAN 434.13 98926.85 10.78

5 RAPE_MUSTARD_SEED 314.15 84778.79 9.24

6 TURMERIC 112.94 79967.29 8.71

7 JEERA 26.50 33720.03 3.67

8 OTHER 405.45 119212.85 12.99

TOTAL 3137.44 917584.71 100.00

The graphical presentation of the percentage share of the prominently traded commodities

at NCDEX, Mumbai is given below.

30

% Share of the value of prominently traded commodities at NCDEX,

Mumbai during 2009-10 (April - March).

Soyabean

11%

Rape/Mustard

Seed

9%

Chana

12%

Soya Oil

15%

Guar Seed

27%

Turmeric

9%

Jeera

4%

Other

13%

Guar Seed Soya Oil Chana

Soyabean Rape/Mustard Seed Turmeric

Jeera Other

i) Guar Seed:

The ready price of Guar Seed, which was quoted at Rs. 1622.10 per 100 Kg on 31.03.2009

rose to Rs. 2302.45 on 31.03.2010, showing a rise of 41.94%. In the futures section, the price

which was quoted at Rs. 1622.00 per 100 kg (April 2009 contract) on 31.03.2009 rose to

Rs.2301.00 (April 2010 contract) per 100 Kg on 31.03.2010 showing a rise of 41.86%.

The graph indicating the trend of ready and future prices of Guar Seed at NCDEX,

Mumbai is given below.

SPOT & FUTURES PRICES OF GUAR SEED TRADED AT NCDEX

1500

1750

2000

2250

2500

2750

3000

3250

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-0

9

21-J

ul-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

.PE

R 1

00

KG

SPOT 20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09

20-Oct-09 20-Nov-09 18-Dec-09 20-Jan-10 19-Feb-10 19-Mar-10 20-Apr-10

20-May-10 18-Jun-10 20-Jul-10 20-Aug-10 20-Sep-10

The total quantity traded in for all contracts of Guar Seed traded was 1115.246 Lakh

tonnes valued at Rs. 258031.270 crore.

ii) Soy Oil

The ready price of Soy Oil, which was quoted at Rs. 448.30 per 10 Kg on 31.03.2009 rose

to Rs. 450.60 on 31.03.2010, showing a rise of 0.51%. In the futures section, the price which was

quoted at Rs. 446.00 per 10 kg (April 2009 contract) on 31.03.2009 rose to Rs.449.95 (April 2010

contract) per 10 Kg on 31.03.2010 showing a rise of 0.89%.

31

The graph indicating the trend of ready and future prices of Soy Oil at NCDEX, Mumbai

is given below.

SPOT & FUTURES PRICES OF SOY OIL TRADED AT NCDEX

400

425

450

475

500

525

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

. P

ER

10

KG

SPOT 20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09 20-Oct-09

20-Nov-09 18-Dec-09 20-Jan-10 19-Feb-10 19-Mar-10 20-Apr-10 20-May-10 18-Jun-10

The total quantity traded in Soy Oil was 289.661 lakh tonnes valued at Rs. 136651.759

crore.

iii) Chana

The ready price of Chana, which was quoted at Rs. 2114.75 per 100 Kg on 31.03.2009

rose to Rs. 2259.55 on 31.03.2010, showing a rise of 6.85%. In the futures section, the price which

was quoted at Rs. 2192.00 per 100 kg (April 2009 contract) on 31.03.2009 rose to Rs.2289.00

(April 2010 contract) per 100 Kg on 31.03.2010 showing a rise of 4.43%.

The graph indicating the trend of ready and future prices of Chana at NCDEX, Mumbai is

given below.

SPOT & FUTURES PRICES OF CHANA TRADED AT NCDEX

2000

2200

2400

2600

2800

3000

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

. P

ER

10

0 K

G

SPOT 20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09

20-Oct-09 20-Nov-09 18-Dec-09 20-Jan-10 19-Feb-10 19-Mar-10 20-Apr-10

20-May-10 18-Jun-10 20-Jul-10 20-Aug-10

32

The total quantity traded in all contracts of Chana was 439.365 Lakh tonnes valued at Rs.

106295.871 crore.

iv) Soya Bean

The ready price of Soya Bean, which was quoted at Rs. 2337.00 per 100 Kg on

31.03.2009 declined to Rs.2029.00 on 31.03.2010, showing a fall of 13.18%. In the futures

section, the price which was quoted at Rs. 2341.50 per 100 Kg (April 2009 contract) on

31.03.2009 declined to Rs.2038.00 per 100 Kg (April 2010 contract) on 31.03.2010 showing a fall

of 12.96%.

The graph indicating the trend of ready and future prices of Soya Bean at NCDEX,

Mumbai is given below.

SPOT & FUTURES PRICES OF SOY BEAN TRADED AT NCDEX

1850

2000

2150

2300

2450

2600

2750

2900

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

.PE

R 1

00

KG

SPOT 20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09

20-Oct-09 20-Nov-09 18-Dec-09 20-Jan-10 19-Feb-10 19-Mar-10 20-Apr-10

20-May-10 18-Jun-10 20-Jul-10 20-Aug-10

The total quantity traded in Soya Bean contracts was 434.133 lakh tonnes valued at Rs.

98926.845 crore.

v) Rape / Mustard Seed

The ready price of R/M Seed, which was quoted at Rs. 454.15 per 20 Kg on 31.03.2009

rose to Rs. 504.95 on 31.03.2010, showing a rise of 11.19%. In the futures section, the price which

was quoted at Rs. 459.60 per 20 kg (May 2009 contract) on 31.03.2009 rose to Rs.505.35 (April

2010 contract) per 20 Kg on 31.03.2010 showing a rise of 9.95%.

The graph indicating the trend of ready and future prices of Rape Seed/Mustard Seed at

NCDEX, Mumbai is given below.

33

SPOT & FUTURES PRICES OF RM SEED TRADED AT NCDEX

400

450

500

550

600

650

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

.PE

R 2

0 K

G

SPOT 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09 20-Oct-09

20-Nov-09 18-Dec-09 20-Jan-10 20-Apr-10 20-May-10 18-Jun-10 20-Jul-10

The total quantity traded in R/M Seed contracts was 314.147 lakh tonnes valued at Rs.

84778.793 crore.

vi) Turmeric

The ready price of Turmeric, which was quoted at Rs. 4711.65 per 100 Kg on 31.03.2009

rose to Rs. 11293.20 on 31.03.2010, showing a rise of 139.69%. In the futures section, the price

which was quoted at Rs. 5226.00 per 100 kg (April 2009 contract) on 31.03.2009 rose to

Rs.10932.00 (April 2010 contract) per 100 Kg on 31.03.2010 showing a rise of 109.18%.

The graph indicating the trend of ready and future prices of Turmeric at NCDEX,,

Mumbai is given below.

SPOT & FUTURES PRICES OFTURMERIC TRADED AT NCDEX

4500

5500

6500

7500

8500

9500

10500

11500

12500

13500

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

. P

ER

10

0 K

G

SPOT 20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09

20-Oct-09 20-Nov-09 18-Dec-09 20-Apr-10 20-May-10 18-Jun-10

The total quantity traded in Turmeric contracts was 112.937 lakh tonnes valued at Rs.

79967.293 crore.

34

vii) Jeera

The ready price of Jeera, which was quoted at Rs. 11542.40 per 100 Kg on 31.03.2009

rose to Rs. 11882.15 on 31.03.2010, showing a rise of 2.94%. In the futures section, the price

which was quoted at Rs. 12123.00 per 100 Kg (May 2009 contract) on 31.03.2009 declined to

Rs.11199.00 per 100 Kg (April 2010 contract) on 31.03.2010 showing a fall of 7.62%.

The graph indicating the trend of ready and future prices of Jeera at NCDEX, Mumbai is

given below.

SPOT & FUTURES PRICES OF JEERA TRADED AT NCDEX

10000

11000

12000

13000

14000

15000

16000

17000

18000

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

RS

. P

ER

10

0 K

G

SPOT 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09 20-Oct-09 20-Nov-09

18-Dec-09 20-Jan-10 19-Feb-10 19-Mar-10 20-Apr-10 20-May-10 18-Jun-10

The total quantity traded in Jeera contracts was 26.504 lakh tonnes valued at Rs.

33720.034 crore.

III) NATIONAL MULTI-COMMODITY EXCHANGE OF INDIA LIMITED,

AHMEDABAD (NMCE)

During 2009-10, NMCE, Ahmedabad accounted for 2.93% of the total value of trade in

the commodity market. In actual terms the total value of trade in the NMCE, Ahmedabad was

Rs.2.28 lakh crore. During the year 26 commodities were traded at NMCE, Ahmedabad. Amongst

which prominent commodities traded during the year were Rape Seed/ Mustard Seed, Sacking,

Soya Oil, Guar Seed and Chana. The total value of trade and the percentage share of each of these

commodities to the total value of trade at NMCE, Ahmedabad is given below.

Total Volume and Value of trade at NMCE, Ahmedabad 2009-10

Commodities Total Volme

( In lakh

tonnes)

Total Value

(In Rs.Crore)

% share to

the total

value

RAPE/MUSTARD

SEED 113.28 26577.73 11.66

SACKING 54.74 24238.77 10.64

SOY OIL 47.77 22364.15 9.81

GUAR SEED 82.20 18579.55 8.15

CHANA 62.31 14851.26 6.52

OTHERS 135.61 121290.02 53.22

Total 495.91 227901.48 100

35

i) Rape/Mustardseed :-

The ready price of Rape/Mustardseed, which was quoted at Rs.410.00 per quintal on

31.03.2009 rose to Rs.460.00 on 31.3.2010, registering a sharp rise of 12.20% over the year. In the

future section, the price of April 2009 contract, which was quoted at Rs. 411.70 per quintal on

31.3.2009 rose to Rs.462.00 on 31.3.2010 (April 2010 Contact) registering a rise of 12.22% over

the year.

The graph indicating the trend of ready and future prices of Rape / Mustard Seed at

NMCE, Ahmedabad is given below

Spot and futures prices of Rape/Mustard seed at NMCE,Ahmedabad

390.00

410.00

430.00

450.00

470.00

490.00

510.00

530.00

550.00

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oct-

09

27

-Oct-

09

10

-No

v-0

9

24

-No

v-0

9

8-D

ec-0

9

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

Date

Rs

.pe

r 2

0 K

g

Spot Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09

Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10

The total quantity of Rape Seed/ Mustard Seed traded at NMCE, Ahmedabad during the

year was 113.28 Lakh tones Valued at Rs. 26577.73 Crore.

ii) Sacking :-

The ready price of Sacking, which was quoted at Rs.2473.80 per quintal on 31.03.2009,

rose to Rs.2972.60 on 31.3.2010, registering a rise of 20.16% over the year. In the future section,

the price of April 2009 contract, which was quoted at Rs.2492.00 per quintal on 31.3.2009, rose to

Rs.3022.00 on 31.3.2010 (April 2010 Contract) registering a rise of 21.27% over the year.

The graph indicating ready and future prices of Sacking at NMCE, Ahmedabad is given

below

36

Spot and futures prices of Sacking at NMCE, Ahmedabad.

2300.00

2500.00

2700.00

2900.00

3100.00

3300.00

3500.00

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oct-

09

27

-Oct-

09

10

-No

v-0

9

24

-No

v-0

9

8-D

ec-0

9

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

Date

Rs

. p

er

10

0 B

ag

s

Spot 15-Apr-09 15-May-09 15-Jun-09 15-Jul-09 14-Aug-09

15-Sep-09 15-Oct-09 14-Nov-09 15-Dec-09 15-Jan-10 15-Feb-10

15-Mar-10 15-Apr-10 15-May-10 15-Jun-10 15-Jul-10

The total quantity of Sacking at NMCE, Ahmedabad during the year was 54.74 Lakh

tones Valued at Rs. 24238.77.00 Crore.

iii) Soy Oil :

The ready price of Soy oil which was quoted at Rs.449.00 per 10 Kg on 31.03.2009 rose

to Rs. 451.00 on 31.3.2010 registering a rise of 0.45 % over the year. In the future section, the

price of April 2009 contract, which was quoted at Rs.446.30 per quintal on 31.3.2009 rose to

Rs.450.00 on 31.3.2010 (April 2010 Contact) registering a rise of 0.83% over the year.

The graph indicating ready and future prices of Soy Oil at NMCE, Ahmedabad is given

below.

Spot and futures prices of Soy Oil at NMCE,Ahmedabad.

400.00

420.00

440.00

460.00

480.00

500.00

520.00

540.00

31-M

ar-

09

14-A

pr-

09

28-A

pr-

09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-09

27-O

ct-09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-

10

16-M

ar-

10

30-M

ar-

10

Date

Rs.p

er

10 K

g

Spot 20-Apr-09 20-May-09 20-Jun-09 20-Jul-09 20-Aug-09 19-Sep-09

20-Oct-09 20-Nov-09 19-Dec-09 20-Jan-10 20-Feb-10 20-Mar-10 20-Apr-10

20-May-10 19-Jun-10 20-Jul-10

The total quantity of Soy Oil traded at NMCE, Ahmedabad during the year was 47.77

Lakh tones Valued at Rs. 22364.15 Crore.

37

iv) Guarseed :-

The ready price of Guarseed, at NMCE, Ahmedabad, which was quoted at Rs.1643.00 per

quintal rose to Rs. 2278.00 on 31.3.2010 registering a rise of 38.65 % over the year. In the future

section, the price of April 2009 contract, which was quoted at Rs.1653.00 per quintal on 31.3.2009

rose to Rs.2281.00 on 31.3.2010 (April 2010 Contact) registering a rise 37.99 % over the year.

The graph indicating ready and future prices of Guar Seed at NMCE, Ahmedabad is given

below.

Spot and futures prices of Guar seed at NMCE,Ahmedabad.

1400

1600

1800

2000

2200

2400

2600

2800

3000

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oct-

09

27

-Oct-

09

10

-No

v-0

9

24

-No

v-0

9

8-D

ec-0

9

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

Date

Rs.

per

100 K

g

Spot 20-Apr-09 20-May-09 20-Jun-09 20-Jul-09 20-Aug-09

19-Sep-09 20-Oct-09 20-Nov-09 19-Dec-09 20-Jan-10 20-Feb-10

20-Mar-10 20-Apr-10 20-May-10 19-Jun-10 20-Jul-10

The total quantity of Guar Seed traded at NMCE, Ahmedabad during the year was 82.20

Lakh tones Valued at Rs.18579.55 Crore.

v) Chana :-

The ready price of Chana at NMCE, Ahmedabad, which was quoted at Rs.2100.00 per

quintal rose to Rs. 2263.00 on 31.3.2010 registering a rise of 7.76 % over the year. In the future

section, the price of April 2009 contract, which was quoted at 2195.00 per quintal on 31.3.2009

rose to Rs.2288.00 on 31.3.2010 (April 2010 Contact) registering a rise of 4.24 % over the year.

The graph indicating ready and future prices of Chana at NMCE, Ahmedabad is given

below.

38

Spot and future prices of Chana at NMCE,Ahmedabad.

1900

2100

2300

2500

2700

2900

3100

31-M

ar-

09

14-A

pr-

09

28-A

pr-

09

12-M

ay-0

9

26-M

ay-0

9

9-J

un-0

9

23-J

un-0

9

7-J

ul-09

21-J

ul-09

4-A

ug-0

9

18-A

ug-0

9

1-S

ep-0

9

15-S

ep-0

9

29-S

ep-0

9

13-O

ct-

09

27-O

ct-

09

10-N

ov-0

9

24-N

ov-0

9

8-D

ec-0

9

22-D

ec-0

9

5-J

an-1

0

19-J

an-1

0

2-F

eb-1

0

16-F

eb-1

0

2-M

ar-

10

16-M

ar-

10

30-M

ar-

10

Date

Rs.p

er

100 K

g

Spot 20-Apr-09 20-May-09 20-Jun-09 20-Jul-09 20-Aug-09 19-Sep-09

20-Oct-09 20-Nov-09 19-Dec-09 20-Jan-10 20-Feb-10 20-Mar-10 20-Apr-10

20-May-10 19-Jun-10 20-Jul-10 20-Aug-10

The total quantity of Chana traded at NMCE, Ahmedabad during the year was 62.31 Lakh

tones Valued at Rs. 14851.26 Crore.

IV) INDIAN COMMODITY EXCHANGE LTD. (ICEX), GURGAON

Indian Commodity Exchange, Ltd., Gurgaon which was granted recognition on the 9th

October 2009, on a permanent basis in respect of forward contracts in all the commodities in

which Section 15 is applicable and the commodities in which neither section 15 nor section 17 is

applicable, commenced trading in commodities, with the approval of the Commission with effect

from 27th November 2009.

% SHARE OF THE VALUE OF THE COMMODITIES TRADED AT ICEX, GURGAON, DURING

April'2009 to March' 2010

GUARSEED

0.06%

LEAD

0.45%NETURAL GAS

0.75%

RSO

0.83%

SILVER

13.17%

COPPERCATHODE

20.44%

CRUDEOIL

21.22%

GOLD

43.08%

GOLD CRUDEOIL COPPERCATHODE SILVER RSO NETURAL GAS LEAD GUARSEED

39

Volume and value of trade at ICEX- 2009-2010

S.No Commodity Vol-L.T Value-Rs. Crs

SHARE OF

VALUE TO

TOTAL

1 GOLD 0.00349 58778.43 43.08

2 CRUDEOIL 110.34229 28946.04 21.22

3 COPPERCATHODE 8.38350 27889.39 20.44

4 SILVER 0.06680 17964.24 13.17

5 RSO 2.39650 1136.43 0.83

6 NATURAL GAS 41888750 1023.37 0.75

7 LEAD 0.61815 607.74 0.45

8 GUARSEED 0.29400 79.72 0.06

TOTAL 122.10473 136425.36 100.00

i) Gold:

The ready price of Gold, which was quoted at Rs. 17677.00 per 10 gm on 27.11.2009

declined to Rs. 16301.78 on 31.03.2010, showing a fall of 7.78%. In the futures section, the price

which was quoted at Rs. 18035.00 per 10 gm (February 2010 contract) on 27.11.2009 declined to

Rs.16294.00 per 10 gm (April 2010 contract) on 31.03.2010 showing a fall of 9.65%.

The graph indicating ready and future prices of Gold at ICEX, Gorgon is given below.

Spot & Futures prices of Gold at ICEX

16000

16500

17000

17500

18000

18500

27

-No

v-0

9

1-D

ec

-09

5-D

ec

-09

9-D

ec

-09

13

-De

c-0

9

17

-De

c-0

9

21

-De

c-0

9

25

-De

c-0

9

29

-De

c-0

9

2-J

an

-10

6-J

an

-10

10

-Ja

n-1

0

14

-Ja

n-1

0

18

-Ja

n-1

0

22

-Ja

n-1

0

26

-Ja

n-1

0

30

-Ja

n-1

0

3-F

eb

-10

7-F

eb

-10

11

-Fe

b-1

0

15

-Fe

b-1

0

19

-Fe

b-1

0

23

-Fe

b-1

0

27

-Fe

b-1

0

3-M

ar-

10

7-M

ar-

10

11

-Ma

r-1

0

15

-Ma

r-1

0

19

-Ma

r-1

0

23

-Ma

r-1

0

27

-Ma

r-1

0

31

-Ma

r-1

0

Rs

. p

er

10

Gm

SPOT 1-Feb-10 1-Apr-10 1-Jun-10 2-Aug-10

The total quantity traded in for all contracts of Gold traded was 0.0034 Lakh tonnes

valued at Rs. 58778.429 crore.

ii) Crude Oil

The ready price of Crude Oil, which was quoted at Rs. 3552.00 per Barrel on 27.11.2009

rose to Rs. 3750.23 on 31.03.2010, showing a rise of 5.58%. In the futures section, the price which

was quoted at Rs. 3565.00 per Barrel (December 2009 contract) on 27.11.2009 rose Rs.3752.00

(April 2010 contract) per Barrel on 31.03.2010 showing a rise of 5.25%.

40

The graph indicating ready and future prices of Crude oil at ICEX, Gurgon is given below.

Spot & Futures prices of Crude Oil at ICEX

3000

3250

3500

3750

4000

27

-Nov

-09

1-D

ec

-09

5-D

ec

-09

9-D

ec

-09

13

-Dec

-09

17

-Dec

-09

21

-Dec

-09

25

-Dec

-09

29

-Dec

-09

2-J

an

-10

6-J

an

-10

10

-Jan

-10

14

-Jan

-10

18

-Jan

-10

22

-Jan

-10

26

-Jan

-10

30

-Jan

-10

3-F

eb

-10

7-F

eb

-10

11-F

eb

-10

15-F

eb

-10

19-F

eb

-10

23-F

eb

-10

27-F

eb

-10

3-M

ar-

10

7-M

ar-

10

11-M

ar-

10

15-M

ar-

10

19-M

ar-

10

23-M

ar-

10

27-M

ar-

10

31-M

ar-

10

Rs

. p

er

Ba

rre

l

SPOT 18-Dec-09 19-Jan-10 19-Feb-10 19-Mar-10 19-Apr-10 19-May-10 21-Jun-10

The total quantity traded in Crude Oil was 110.342 lakh tonnes valued at Rs. 28946.039

crore.

iii) Copper

The ready price of Copper, which was quoted at Rs. 319.03 per kg on 27.11.2009 rose to

Rs. 353.33 on 31.03.2010, showing a rise of 10.75%. In the futures section, the price which was

quoted at Rs. 321.50 per kg (February 2010 contract) on 27.11.2009 rose to Rs. 351.35 per kg

(April 2010 contract) on 31.03.2010 showing a rise of 9.28%.

The graph indicating ready and future prices of copper at ICEX, Gurgon is given below.

Spot & Futures prices of Copper at ICEX

300

310

320

330

340

350

360

27

-No

v-0

9

1-D

ec

-09

5-D

ec

-09

9-D

ec

-09

13

-De

c-0

9

17

-De

c-0

9

21

-De

c-0

9

25

-De

c-0

9

29

-De

c-0

9

2-J

an

-10

6-J

an

-10

10

-Ja

n-1

0

14

-Ja

n-1

0

18

-Ja

n-1

0

22

-Ja

n-1

0

26

-Ja

n-1

0

30

-Ja

n-1

0

3-F

eb

-10

7-F

eb

-10

11

-Fe

b-1

0

15

-Fe

b-1

0

19

-Fe

b-1

0

23

-Fe

b-1

0

27

-Fe

b-1

0

3-M

ar-

10

7-M

ar-

10

11

-Ma

r-1

0

15

-Ma

r-1

0

19

-Ma

r-1

0

23

-Ma

r-1

0

27

-Ma

r-1

0

31

-Ma

r-1

0

Rs

. p

er

Kg

SPOT 26-Feb-10 30-Apr-10 30-Jun-10 31-Aug-10

The total quantity traded in Copper contracts was 8.383 lakh tonnes valued at Rs.

27889.390 crore.

41

iv) Silver

The ready price of Silver, which was quoted at Rs. 28002.00 per kg on 27.11.2009

declined to Rs. 26837.55 on 31.03.2010, showing a fall of 4.16%. In the futures section, the price

which was quoted at Rs. 28945.00 per Kg (March 2010 contract) on 27.11.2009 declined to

Rs.26956.00 per Kg (May 2010 contract) on 31.03.2010 showing a fall of 6.87%.

Spot & Futures prices of Silver at ICEX

22500

25000

27500

300002

7-N

ov

-09

1-D

ec

-09

5-D

ec

-09

9-D

ec

-09

13

-De

c-0

9

17

-De

c-0

9

21

-De

c-0

9

25

-De

c-0

9

29

-De

c-0

9

2-J

an

-10

6-J

an

-10

10

-Ja

n-1

0

14

-Ja

n-1

0

18

-Ja

n-1

0

22

-Ja

n-1

0

26

-Ja

n-1

0

30

-Ja

n-1

0

3-F

eb

-10

7-F

eb

-10

11

-Fe

b-1

0

15

-Fe

b-1

0

19

-Fe

b-1

0

23

-Fe

b-1

0

27

-Fe

b-1

0

3-M

ar-

10

7-M

ar-

10

11

-Ma

r-1

0

15

-Ma

r-1

0

19

-Ma

r-1

0

23

-Ma

r-1

0

27

-Ma

r-1

0

31

-Ma

r-1

0

Rs

. p

er

Kg

SPOT 2-Mar-10 3-May-10 1-Jul-10 1-Sep-10

The total quantity traded in all contracts of silver was 0.0668 Lakh tonnes valued at Rs.

17964.244 crore.

V) NATIONAL BOARD OF TRADE (NBOT), INDORE

The NBOT, Indore accounted for 0.78% of the total value of trade during the year 2009-

10. In actual terms the total value of trade in NBOT, Indore was Rs. 60,449.52 crore. During the

year, Soy bean, Soy oil and Mustardseed commodities were traded at NBOT, Indore. Of these Soy

bean accounted for 99% of the total value of trade.

Total volume and value of trade at NBOT, Indore April 2009

to March 2010

Commodities Total

Volume in

MT

Total Value

in Rs.Crore

% share to

the total

value

SOY OIL 127.63 59847.06 99.00

OTHERS 2.64 602.46 1.00

Total 130.27 60449.520 100.00

42

Total Value and Percentage at NBOT,Indore.

April 09 to March 10

Soy oil

99.00%

Others

1.00%

Soy oil Others

NBOT

(i) Soy oil :-

The ready price of Soy oil at NBOT, Indore which was quoted at Rs.449.30 per 10 Kg

rose to Rs. 451.00on 31.3.2010 registering a rise of 0.38 % over the year.

In the futures section, trading in 14 contracts were permitted/ traded at NBOT. The price

of April 2009 contract, which was quoted at Rs.447.10 per 10 Kg on 31.3.2009 rose to Rs.447.80

on 31.3.2010 (April 2010 Contact) registering a rise of 0.16% over the year.

The graph indicating ready and future prices of Soy oil at NBOT, Indore is given below.

Spot and future prices of Soy oil at NMCE,Ahmedabad.

390.00

410.00

430.00

450.00

470.00

490.00

510.00

530.00

31

-Ma

r-0

9

14

-Ap

r-0

9

28

-Ap

r-0

9

12

-Ma

y-0

9

26

-Ma

y-0

9

9-J

un

-09

23

-Ju

n-0

9

7-J

ul-

09

21

-Ju

l-0

9

4-A

ug

-09

18

-Au

g-0

9

1-S

ep

-09

15

-Se

p-0

9

29

-Se

p-0

9

13

-Oc

t-0

9

27

-Oc

t-0

9

10

-No

v-0

9

24

-No

v-0

9

8-D

ec

-09

22

-De

c-0

9

5-J

an

-10

19

-Ja

n-1

0

2-F

eb

-10

16

-Fe

b-1

0

2-M

ar-

10

16

-Ma

r-1

0

30

-Ma

r-1

0

Date

Rs

.pe

r 1

0 K

g

Spot Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09

Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10

The total quantity traded at NBOT, Indore during the period 127.63 Lakh tones Value at

Rs. 59847.06 Crore. The net open position at the Exchange at the end of March 2010 was 16550

MT.

43

CHAPTER-IV

ACTION AGAINST ILLEGAL FORWARD TRADING

4. Rule 13 of the Forward Contracts (Regulation) Rules, 1954 states as under

“The Commission shall communicate information in respect of the commission of any

offence under the Act to the concerned police authorities and assist such authorities in

scrutinizing documents referred to by them and in rendering such expert advice as may be

required by them”.

4.1 In pursuance of the provisions of Rule 13 as cited above, the Commission keeps close

surveillance on the activities in illegal forward markets and communicates the intelligence

thereon, to the concerned police authorities for their verification and appropriate enforcement

action. The Commission or its officers are not empowered to conduct search, seizure and

prosecution in respect of the various offences committed under the Act. These powers are vested

with the police authorities in the State/Union Territories. The officers of the Enforcement division

of the Commission assist the police authorities, wherever possible, in organizing and conducting

the raids. Further more, the division also assists the police authorities in scrutinizing the

documents seized by them in the course of their raids against persons conducting illegal forward

trading. Comprehensive scrutiny reports are prepared in the Division, on the basis of the evidence

contained in the documents seized and are then sent to the police authorities for further necessary

action. Apart from carrying out these tasks, the officers of the Enforcement Division also tender

evidence in the different courts of law as “Expert Witnesses”, as and when summoned.

4.2 Though the prohibition on futures trading under Section 17 of the Forward Contracts

(Regulation) Act, 1952 has been revoked completely, the need of enforcement action would

continue, as long as various other forms of illegal forward trading, like “Option” in goods, (which

is totally prohibited under the Act), and “dabba” trading are reportedly prevalent in various parts

of the country.

4.3 The main centers which were reported to have tradition of illegal forward trading in

various states are Ahamedabad, Bhabhar, Dhoraji, Jamnagar, Junagadh, Surendranagar,

Rajkot, Morbi, Gondal, Bhuj, etc. in Gujarat; Gwalior, Indore, Ujjain, Bhopal in Madhya

Pradesh; Mumbai, Kolhapur, Akola, Khamgaon, Nagpur, Amravati, in Maharashtra;

Bikaner, Shriganganagar, Hanumangarh, Churu, Jaipur, Jodhpur etc. in Rajasthan; Agra,

Kanpur, Meerut, Muzaffarnagar, Gaziabad, Bareilly in Uttar Pradesh; Adampur, Sirsa,

Hisar, Nahor, Rohtak in Haryana and Delhi in the state of Delhi. The availability of

regulated trading platform for futures trading in number of commodities at different

centers helped in reducing the need or incentive for illegal forward trading to a large

extent.

4.4 During the period between 01.04.2009 to 31.03.2010, the following enforcement actions

were initiated under Rule 13 of the FCR (Rules) 1954;

S.

No.

Activities Details

1 Enquiry &

Inspection of

Books and

Accounts

Enquiry and Inspection of 9 members was undertaken.

2 Surprise Surprise check of One member and two regional

44

S.

No.

Activities Details

check of the

Members/Exc

hange:

exchanges were undertaken.

3 Refereed to

other agencies

under Rule 13

of the

Forward

Contracts

(Regulation)

Rules, 1954

and from

other

agencies/

Police

Authorities.

• Referred one matter to EOW, Delhi, two matters

to Commission of Police City Police,

Chennai and one matter to Commission of

Police, Pune,

• One matter referred to Director General of Police

, Chhattisgarh and one matter to Director General

of Police , Rajasthan

• DGP Gujarat was informed of Dabba Trading at

Junagad.

• A matter was referred from Deesa Police for

scrutiny of documents and computers were

seized from them for violations under FCRA,

1952. The final report has been forwarded to

Deesa Police.

4. Investigations

• On the basis of FIR registered by Delhi Police,

investigation was done by the enforcement

division in the matter of M/S. Abhipara

Commodity Consultants Pvt. Ltd. and M/s. Pritam

Vinay Commodity. The reports in the matter were

sent to the exchanges for further necessary action.

Membership of M/s. Pritam Vinay Commodity has

been terminated by NCDEX & MCX.

• Investigation was undertaken in respect of M/s.

Jaypee Commodities on the basis of data (Digital

& Hard Copy) received from IT Department.

• Investigation was done in respect of M/s. Insight

Commodity and Futures Pvt. Ltd. The exchanges

were directed to make suitable amendments in the

relevant circulars / regulations/ rules requiring the

members to follow appropriate risk management

system.

45

CHAPTER V

ADMINISTRATION AND BUDGET

The Commission comprises of 3 members including the Chairman Shri B.C. Khatua, IAS

and two members viz. Shri. Rajeev Kumar Agarwal, IRS and Shri. D. S. Kolamkar, IES.

5.1 The functioning of the Commission is done through five divisions, as given in Chapter I.

5.1.1. The group-wise composition of sanctioned strength of the commission is given in Table-1

at page 47.

5.1.2. The Officers and staff belonging to S.C., S.T, Ex-servicemen, OBC, and Physically

Handicapped categories in the Commission is at Table 2 on page 48.

5.1.3. There is one visually handicapped person and one orthopaedically handicapped person in

this office. There are neither separate budgetary provisions made for the benefit of persons with

the disability nor any special scheme for the benefit of such persons in this office. A statement

giving the details of persons with disability in the different groups viz, ‘A’,’B’,’C’,’D’, is given at

Table 2 on page 48.

5.1.4. A committee for hearing grievances of women regarding sexual harassment at work place

has been constituted in this office.

5.2 Budget

The Budget Estimates of the Commission for the last four years and actual expenditure

incurred there against are given below:-

PLAN– BUDGET ESTIMATES FOR THE LAST FIVE YEARS.

Year Budget grant (Revised)

(Rs. Lakhs)

Actual Expenditure

(Rs. Lakhs)

PLAN NON-PLAN PLAN NON-PLAN

2005-06 120.00 293.00 93.28 226.79

2006-07 200.00 352.00 156.29 278.58

2007-08 1000.00 387.00 241.89 284.82

2008-09 400.00 467.00 331.51 406.37

2009-10 805.00 537.30 719.31 512.71

5.3 Implementation of Official Language policy of the Government.

In order to ensure effective implementation of Official Language Policy, Official

Language Act 1963 and Official Language Rules 1976, the Commission has taken a number of

initiatives. Quarterly meetings of Official Language Implementation Committee is held under the

Chairmanship of the Chairman on regular intervals and progress made in different areas of

operation is reviewed in the presence of senior officers of the Commission. The Commission is

poised to achieve the target fixed in the Annual Programme. Full compliance of section 3(3) of

Official Language Act 1963 was ensured of Rule 5 and 7 of Official Language Rules 1976 was

complied with and proper check points have been devised to monitor the progress of Hindi. Four

Hindi workshops were organized during the year and officials were briefed about statutory

provisions with respect to Official Language.

46

During Hindi fortnight celebrations, which was observed from 2 Sept. to 16 Sept. 2009

various competitions were organized for the staff and they were honoured with cash prize and

certificates. Proper representations of the Commission were ensured in various forums viz Hindi

Advisory Committee and Town Official Language Implementation Committee etc.

With the help of I.T. section of the Commission unicode/Hindi Software has been

provided to almost all the Officers and staff through intranet.

47

TABLE I Statement showing the number of posts sanctioned, posts filled and posts lying vacant in FMC as

on 31.03.2010

S.

No.

Name of Post Group (Gazetted/Non-Gazetted)

and Pay Band + Grade Pay

Number of Post(s)

Sanctioned In position Vacant

GROUP ‘A’

1. Chairman 1 1 -

2. Member 2 2 -

3. Director IES(Economic Adviser)-FMC

Joint Director IES(Director)-FMC

1

1

1

1

-

4. Director (Ex-cadre) 10 2 8

5. Secretary --

6. A. Deputy Director (Gr.III IES) 5 1 4

B. Deputy Director(Ex-cadre) 13 8 5

7. (A)Assistant Director (Ex cadre)

(B) Assistant Director(Grade of IES)

14

5

14

1

-

4

Total Group ‘A’ 52 31 21

GROUP ‘B’

8. Hindi Officer 1 1 -

9. Assistant Secretary 1 1 -

10. Senior P.S. 1 1 -

11. Private Secretary 2 2 -

12. Economic Officer 13 5 08

Total ‘B’ Gazzetted 18 10 8

13. GROUP ‘B” Non-gazetted Superintendent 1 1 -

Total ‘B’ Non-gazetted 1 1 0

GROUP ‘C’

14. Deputy Superintendent 1 1 -

15. Stenographer Grade I 2 - 2

16. Translator (Mudia) 1 - 1

17. Translator (Gujarati) 1 1 -

18. Jr.Hindi Translator 2 -- 2

19. Junior Research Assistant 12 9 3

20. Stenographer Gr.II 2 2 -

21. Assistant 2 2 -

22. Stenographer Gr.III 5 - 5

23. Upper Division Clerk 7 7

24. Lower Division Clerk 6 6 --

25. Hindi Typist 1 1 -

26. Staff Car Driver 1 - 1

27. Computor 4 1 3

Total of Group ‘C’ 47 30 17

28. Gestetner Operator 1 1 -

29. Daftary 3 3 -

30. Sr. Peon 1 1

31. Peon 7 2 5

32. Hamal 1 - 1

33. Safaiwala 2 2 -

34. Total Group ‘D’ 15 9 6

GRAND TOTAL: 133 81 52

48

TABLE 2

STATEMENT SHOWING THE REPRESENTATION OF SC/ST/OBC/PH/EXM OF

OFFICERS

(AS ON 31/03/2010)

Name of Ministry/Department : Ministry of Consumer Affairs, Food & Public Distribution,

Deptt. of Consumer Affairs,

Office/Organisation : Forward Markets Commission, Mumbai.

Group of

post

Sanctioned

post

Total

number of

employees

in position

Number of employees of Col.3

belonging to

EXM GEN

PH

SC ST OBC VH HH OH

1 2. 3 4 5 6 7 8 9 10 11

Group A

(Gazetted)

53

32

3

-

2

1

-

-

-

26

Group B

Gazetted

17 9 1 - 4 - - - - 4

Non-

Gazetted

1 1 - - - - - - - 1

Group C 47 30 4 1 4 1 - 1 1 18

Group D 15 9 2

**

2 1 1 - - - 3

TOTAL

133 81

10 3 11 3 - 1 1 52

VH –Visually Handicapped

HH – Hearing Handicapped

OH – Orthopedically Handicapped

EXM – Ex-serviceman **one Group D employee is SC as well as VH.

49

Annexure I

LIST OF COMMODITIES NOTIFIED UNDER SECTION 15 OF THE F.C.(R.) ACT 1952.

Sl.

No.

COMMODITY Sl.No. COMMODITY

Fibres and Manufactures Oilseeds and Oils

1 Art Silk Yarn 38 Celeryseed

2 Cotton Cloth 39 Copra Oil/Coconut Oil

3 Cotton pods 40 Copra Oilcake/Coconut Oilcake

4 Cotton Yarn 41 Copra/Coconut

5 Indian Cotton (Full pressed, half pressed or

loose)

42 Cottonseed

6 Jute goods (Hessian and Sackings and cloth

and /or bags, twines and/or yarns mfd by

any of the mills and/or any other

manufacturers of whatever nature made

from jute)

43 Cottonseed Oil

7 Kapas 44 Cottonseed Oilcake

8 Raw Jute (including Mesta) 45 CPO Refined

9 Staple Fibre Yarn 46 Crude Palm Oil

Foodgrains and Pulses 47 Crude Palm Olive

10 Arhar Chuni 48 Groundnut

11 Bajra 49 Groundnut Oil

12 Barley 50 Groundnut Oilcake

13 Gram 51 Linseed

14 Gram Dal 52 Linseed oil

15 Guar 53 Linseed Oilcake

16 Jowar 54 Rapeseed Oil/Mustard Oil

17 Kulthi 55 Rapeseed Oilcake/ Mustardseed

Oilcake

18 Lakh (Khesari) 56 Rapeseed/Mustardseed

19 Maize 57 RBD Palmolein

20 Masur 58 Rice Bran

21 Moth 59 Rice Bran Oil

22 Mung 60 Rice Bran Oilcake

23 Mung Chuni 61 Safflower

24 Mung dal 62 Safflower Oil

25 Peas 63 Safflower Oilcake

26 Ragi 64 Sesamum (Til or Jiljilli)

27 Rice or Paddy 65 Sesamum Oil

28 Small Millets (Kodan Kulti, Kodra, Korra,

Vargu, Sawan, Rala, Kakun, Samai, Vari &

Banti)

66 Sesamum Oilcake

29 Tur Dal (Arhar Dal) 67 Soy meal

30 Tur(Arhar) 68 Soy Oil

31 Urad (Mash) 69 Soybean

32 Urad dal 70 Sunflower Oil

33 Wheat 71 Sunflower Oilcake

Metals 72 Sunflower Seed

34 Copper, Zinc, Lead or Tin Spices

35 Gold 73 Aniseed

36 Silver 74 Betelnuts

37 Silver Coins 75 Cardamom

50

Sl.

No.

COMMODITY Sl.No. COMMODITY

76 Chillies 93 Potato

77 Cinnamon 94 Rubber

78 Cloves 95 Seedlac

79 Coriander seed 96 Shellac

80 Ginger 97 Sugar

81 Methi 98 Furnace Oil

82 Nutmegs 99 Ethanol

83 Pepper 100 Cooking Coal

84 Turmeric 101 Electricity

Others 102 Natural gas

85 Camphor 103 Onion

86 Castorseed 104 Thermal Coal

87 Chara or Berseem (including charaseed or

berseemseed)

105 Carbon credits

88 Crude Oil 106 Methanol

89 Gram Husk (Gram Chilka) 107 Melted Menthol Flakes

90 Gur 108 Mentha Oil

91 Khandsari Sugar 109 Menthol Crystals

92 Polymer

51

Annexure II

List of the Exchanges

S.No. Name of the Exchanges

A. National Multi Commodity Exchanges

1 National Multi Commodity Exchange of India Ltd., Ahmedabad (NMCE)

2 Multi Commodity Exchange of India Ltd., Mumbai (MCX)

3 National Commodity & Derivatives Exchange Ltd., Mumbai (NCDEX)

4 Indian Commodity Exchange Ltd., Mumbai (ICEX)

B. Commodity Specific Regional Exchanges

5 Ahmedabad Commodity Exchange Ltd, Ahmedabad

6 Bikaner Commodity Exchange Ltd, Bikaner

7 Bombay Commodity Exchange Ltd, Mumbai

8 Central India Commercial Exchange Ltd, Gwalior

9 Cotton Association of India, Mumbai

10 The Chember of Commerce, Hapur

11 East India Jute & Hessian Exchange Ltd., Kolkata

12 First Commodity Exchange of India Ltd, Kochi

13 Haryana Commodities Ltd., Sirsa

14 India Pepper & Spice Trade Association, Kochi

15 The Meerut Agro Commodities Exchange Company Ltd, Meerut

16 National Board of Trade, Indore

17 Rajkot Commodity Exchange Ltd., Rajkot

18 Spices & Oilseeds Exchange Ltd, Sangli

19 Surendranagar Cotton Oil & Oilseeds Association Ltd, Surendranagar

20 The Rajdhani Oil & Oilseeds Exchange Ltd, Delhi

21 Vijai Beopar Chamber Ltd., Muzaffarnagar

52

Annexure III

(A) Trading Permissions granted to National Exchanges during the year.

1. MCX, Mumbai

S.No. Name of the

Commodities

Name of the contracts

permitted for trading

Date of

permission

1. Almond (New) September 2009 to December

2009

15.04.09

2. Mild Steel Ingots/ Billets May 2009 to Sept 2009 20.04.2009

3. Mustard Seed July 2009 to December 2009 29.04.2009

4. Imported Thermal Coal May 2009 to December 2009 23.04.2009

5. Wheat June ’09 to December 2009 20.05.2009

6. Yellow Peas July ’09 to Dec ‘09 29.05.2009

7. Short Term CER (NEW) July to Dec ‘09 15.06.2009

8. Red Arecanut Oct.’09 to Dec.’09 22.07.2009

9. Mild Steel Ingot Billets Oct.’09 to Dec.’09 24.07.2009

2010

10. Carbon Credit CER Feb, May, Aug & Nov. 2010 08.05.2009

11. Copper Feb, April, June, Aug., &

Nov.2010

- do-

12. Crude Oil January to December 2101 - do-

13. Gold Feb., April, June, Aug.,

Oct.,& Dec 2010

- do-

14. Silver March, May, July, Sept. &

Dec. 2010

- do-

15. Silver Mini March, May, July, Sept. &

Dec. 2010

- do-

16. Kapas April 2010 24.08.2009

17. Almond January 2010 to December

2010

28.08.2009

18. Aluiuminium - do- - do-

19. Cardamom - do- - do-

20. Chana - do- - do-

21. Crude Palm Oil - do- - do-

22. Heating Oil - do- - do-

23. Kapas Khali - do- - do-

24. Lead - do- - do-

25. Mild Steel Ingot/ Billets - do- - do-

26. Mentha Oil - do- - do-

27. Nickel - do- - do-

28. Platinum - do- - do-

29. Refined Soy Oil - do- - do-

30. Zink - do- - do-

31. Gold Guinea - do- - do-

32. Gold Mini - do- - do-

33. Wheat - do- - do-

34. ATF January 2010 to June 2010 - do-

35. Castor Seed (RAJ) - do- - do-

36. Coriander - do- - do-

37. Electricity Monthly - do- - do-

53

S.No. Name of the

Commodities

Name of the contracts

permitted for trading

Date of

permission

38. Electricity Weekly - do- - do-

39. Gasoline - do- - do-

40. Guar Seed - do- - do-

41 Rubber - do- - do-

42 Gold HNI - do- - do-

43 Silver HNI - do- - do-

44 Tin - do- - do-

45 Turmeric - do- - do-

46 Barley Oct 2009 and Dec. 2009 24.09.2009

47 Natural Gas Jan. 2010 to Dec. 2010 30.09.2009

48 Imported Thermal Coal January 2010 ton June 2010 -do-

49 Maize Feed/ Industrial

Grade

Nov. 2009 & December 2009 08.10.2009

50 Guar Gum November 2009 to January

2010

09.10.2009

51 Black Pepper November 2009 & December

2009

20.10.2009

52 Kapasia Khali Jan. 2010 to Dec. 2010 03.11.2009

53 Soya Bean - do- 28.10.2009

54 Potato (Agra) March 2010 to May 2010 18.12.2009

55 Menthol Flakes (NEW) Feb. 2010 to July 2010 07.01.2010

56 Barley April 2010 to June 2010 06.01.2010

57 Maize Feed/ Ind. Grade February 2010 to June 2010 - do -

58 ATF July to December 2010 24.02.2010

59 Coriander July to December 2010 - do-

60 Gasoline July to December 2010 - do-

61 Guar seed July to December 2010 - do-

62 Imported Thermal coal July to December 2010 - do-

63 Maize – Feed/ Industrial

grade

July to December 2010 - do-

64 Potato (Agra) June to October 2010 - do-

65 Rubber July to December 2010 - do-

66 Tin July to December 2010 - do-

67 Melted Menthol Flakes August to December 2010 - do-

68 Turmeric July to December 2010 - do-

2. NCDEX, Mumbai.

S.No. Name of the Commodities Name of the contracts permitted for

trading

Date of

permission

1. Sugar - S October 2009 to June 2010 08.05.2009

2. Sugar - M October 2009 to June 2010 08.05.2009

3. Wheat June ’09 to December 2009 20.05.2009

4. Sugar-S October 2009 to June 2009 08.05.2009

5. Sugar-M October 2009 to June 2009 08.05.2009

6. Cashew July ’09, Sept.’09 and Nov.’09 05.06.2009

7. Furnace Oil July ’09 to December ‘09 - do-

8. Groundnut in shell July ’09 to December ‘09 - do-

9. Groundnut expeller oil July ’09 to December ‘09 - do-

54

S.No. Name of the Commodities Name of the contracts permitted for

trading

Date of

permission

10. Polypropylene,

July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.

‘09

- do-

11. Liner Low Density

Polyethylene

July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.

‘09

- do-

12. Polyvinyl Chloride July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.

‘09

- do-

13. Masoor Aug. ’09, Oct.’09 & Dec. ‘09 - do-

14. Mustard Seed Oil July ’09 to December ‘09 - do-

15. Mustard Seed Oil Cake July ’09 to December ‘09 - do-

16. RBD Palmolein July ’09 to December ‘09 - do-

17. Yellow Peas Aug. ’09, Oct.’09 & Dec. ‘09 - do-

18. Soya bean Meal : Domestic July ’09 to December ‘09 - do-

19. Soya bean Meal : Export July ’09 to December ‘09 - do-

20. Sesame seed July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.

‘09

- do-

21. Medium Staple Cotton –

Abohar

July ’09, Aug. ’09, Oct.’09, Nov.’09, & Dec.

‘09

- do-

22. Cotton very long (31 mm) July ’09, Aug.’09 Oct.’09, Nov.’09 &

Dec.’09

- do-

23. Aluminium July ’09 to December ‘09 - do-

24. Nickel July ’09 to December ‘09 - do-

25. Zinc July’09, Aug.’o9 & Oct.’09 to December ‘09 - do-

26. Groundnut in Shell Bikaner Aug. 2009, Nov. 2009 &

December 2009

01.07.2009

2010

27. Gold International Jan ’10, March ’10, May ’10 July ’10, Sept

’10 & Nov.’10

08.07.2009

28. Silver International Nov.’09, Feb ’10, April ’10, June ’10

Aug.’10 & Nov.’10

- do-

29. Cottonseed Oil Cake Jan’10 to March ’10;

April 2010 to Sept.’10 & Dec.’10

20.07.2009

30. Pepper Jan 2010 to Dec. 2010 - do-

31. Red Chilli Feb.’10 to April 2010-04-01 June 2010 to

December 2010

- do-

32. Chana January 2010 to December 2010 08.07.2009

33. Gur - do- - do-

34. Jeera - do- - do-

35. Rape/Mustard Seed - do- - do-

36. Steel Long - do- - do-

37. Turmeric - do- - do-

38. Barley January 2010 to June 2010 - do-

39. Indian 28.5 mm Cotton - do- - do-

40. Dhaniya/ Coriander - do- - do-

55

S.No. Name of the Commodities Name of the contracts permitted for

trading

Date of

permission

41 Potato - do- - do-

42 Rubber - do- - do-

43 Light sweet crude oil - do- - do-

44 Guar Seed January 2010 to December 2010 04.08.2009

45 Guar Gum January 2010 to December 2010 - do-

46 Soy Bean January 2010 to December 2010 - do-

47 Refined Soy Oil January 2010 to December 2010 - do-

48 Castor seed January 2010 to December 2010 - do-

49 Copper Cathode February 2010, April 2010, June 2010,

August 2010 & November 2010

- do-

50 Gold 1 Kg January 2010 to December 2010 - do-

51 Gold 100 Grames - do- - do-

52 Silver 30 Kgs - do- - do-

53 Silver 5 Kgs - do- - do-

54 Wheat January 2010 to December 2010 25.08.2009

55 Yellow / Red Maize January 2010 to June 2010 07.10.2009

56 Platinum (NEW) December 2009, March 2010, June 2010,

Sept 2010 & Dec. 2010

06.11.2009

57 Mentha Oil January 2010 to June 2010 12.11.2009

58 Natural Gas (NEW) January 2010 to December 2010 04.12.2009

59 Expeller Mustard Oil

(Kachhi Ghani)

February 2010 to June 2010 04.01.2010

60 Barley July 2010 to Dec. 2010 19.01.2010

61 Yellow Soya Bean Meal :

Export

February 2010 to June 2010 22.01.2010

62 RBD Palmolein - do- - do-

63 Aluminum Ingot - do- - do-

64 Nickel Cathode - do- - do-

65 Zinc Ingot - do- - do-

66 Brent Crude Oil - do- - do-

67 Thermal Coal - do- - do-

68 Certified Emission

Reduction (CER)

March 2010 and June 2010 - do-

69 Gasoline (NEW) April 2010 May 2010 & June 2010 01.02.2010

70 Heating Oil (NEW) - do- - do-

71 Almond (NEW) March 2010 to Dec. 2010 09.02.2010

72 Led (NEW) March 2010, April 2010, May 2010 & June

2010

16.02.2010

73 Crude Palm Oil March2010 to August 2010 03.03.2010

74 Coriander / Dhania July 2010 to December 2010 03.03.2010

75 Maize – Yellow/Red July 2010 to December 2010 - do-

76 Mentha Oil July 2010 to December 2010 - do-

77

Potato

July 2010, August 2010 &

September 2010

- do-

78 Rubber July 2010 to December 2010 - do-

56

S.No. Name of the Commodities Name of the contracts permitted for

trading

Date of

permission

79

Indian 28.5 mm Cotton

July 2010, August 2010, October 2010,

November 2010 & December 2010

- do-

80

Light Sweet Crude Oil

19 July 2010, 19 August 2010,

20 September 2010, 19 October 2010,

18 November 2010 & 17 December 2010

- do-

81 Kacchi Ghani Mustard Oil July 2010 to December 2010 - do-

3. NMCE, Ahmedabad

S.No. Name of the Commodities Name of the contracts permitted for trading Date of

permission

1. Kalyan Kapas V-797 December 2009 02.04.2009

2. Aluminium July 2009 to September 2009 13.04.2009

3. Nickel July 2009 to September 2009 - do-

4. Silver July ’09 & Sept.’09 - do-

5. Copper July ’09 & Sept.’09 - do-

6. Copper (Revised) June’09, Aug.’09 and Nov.’09 13.05.2009

7. Wheat June ’09 to December 2009 20.05.2009

8. Aluminium October ‘09, November ‘09 & December ‘09 01.06.2009

9. Nickel October ‘09, November ‘09 & December ‘09 - do-

10. Silver December ‘09 - do-

11. Castor Seed January 2010 to December 20 15.06.2009

12. Chana - do- - do-

13. Coffee Rep Bulk - do- - do-

14. Copra - do- - do-

15. Guar Gum - do- - do-

16. Guar Seed - do- - do-

17. Isabgul Seed - do- - do-

18. Kilo Gold - do- - do-

19. Lead - do- - do-

20. Menthol Crystal - do- - do-

21. Pepper - do- - do-

22. Rape/ Mustard Seed - do- - do-

23. Sacking - do- - do-

24. Soyoil - do- - do-

25. Turmeric - do- - do-

2010

26. Aluminium January 2010 to June 2010 - do-

57

S.No. Name of the Commodities Name of the contracts permitted for trading Date of

permission

27. Nickel - do- - do-

28. Rubber - do- - do-

29. Zink - do- - do-

30. Cardamom - do- - do-

31. Raw Jute - do- - do-

32.. Kalyan Kapas - do- - do-

33. Gold (Vol. in kgs) - do- - do-

34. Silver (Vol. in kgs) - do- - do-

35. Copper January 2010 to June 2010 25.06.2009

36. Gold Guinea October 2009 to March 2010 29.09.2009

37. Gold Guinea April 2010 to December 2010 19.01.2010

38. Rubber July 2010 to December 2010 21.01.2010

39. Aluminium 5 Ton - do- - do-

40. Nickel - do- - do-

41. Zinc - do- - do-

42. Raw Jute - do- - do-

43. Silver July 2010, Sept. 2010 and Dec. 2010 - do-

44. Copper August 2010 and November 2010 - do-

45. Cardamom July 2010 to December 2010 - do-

46. Gold July 2010 to December 2010 - do-

ICEX, New Delhi

S.No. Name of the Commodities Name of the contracts permitted for trading Date of

permission

1. Guar Seed February, 2010 to December, 2010.

09.10.2009

2. Mustard Seed/Rape Seed April, 2010 to December, 2010.

3. Refined Soy Oil February, 2010 to December, 2010.

4. Turmeric April, 2010; to December, 2010.

5. Soy Bean February, 2010 to December, 2010.

6. Gold April, 2010; June, 2010; August, 2010;

October, 2010; and December, 2010.

7. Gold 100 Gms February, 2010; to December, 2010.

8. Silver May 2010; July 2010; September 2010; and

December, 2010.

9. Silver 5 Kg May 2010; July 2010; September 2010; and

December, 2010.

10. Crude Oil February 2010 to December, 2010.

11. Natural Gas January, 2010; to December, 2010.

12. Copper Cathode April, 2010; June, 2010; August, 2010; and

58

November, 2010.

13. Lead February, 2010 to December, 2010.

(B) Trading Permissions granted to the Regional Exchanges

S.No. Name of the

Exchange

Name of the

commodities

Name of the deliveries Date of

permission

1. BCE Ltd.,

Bikaner

Guar seed July 2009 13.04.09

Guar seed November 2009 07.08.09

Guar seed January 2010 12.10.09

Guar seed March 2010 25.01.10

Guar seed September 2009 19.06.09

Guar seed May 2010 15.02.10

2. ROOE, Delhi Mustard seed August 2009 13.04.09

Mustard seed November 2009 15.07.09

Mustard seed February 2010 12.10.09

3. HCL, Sirsa Mustard seed July 2009 20.04.09

Mustard seed September 2009 15.06.09

Mustard seed November 2009 and January 2010 31.08.09

Mustard seed March 2010 and May 2010 30.12.09

Cotton seed oil

cake

July 2009 21.04.09

Cotton seed oil

cake

September 2009 19.06.09

Cotton seed oil

cake

March 2010 and May 2010 30.12.09

4. ACE Ltd.,

Ahmedabad

Castor seed October 2009 and December 2009 05.05.09

Castor seed February 2010 and April 2010 19.08.09

Castor seed June 2010 and August 2010 04.01.10

5. IPSTA, Kochi Pepper MG 1 and

550 GL

MG 1 = December 2009, January

2010 and February 2010

550 GL = June 2009, July 2009

and August 2009

05.05.09

Pepper 550 -GL September 2009, October 2009 and

November 2009

02.06.09

Pepper MG 1 March 2010, April 2010 and May

2010

30.07.09

Pepper MG-1 June 2010, July 2010 and August

2010

04.11.09

Pepper MG-1 September 2010, October 2010, and

November 2010

05.02.10

6. NBOT, Indore Soya oil and

Soya bean

August 2009 to February 2010 01.06.09

Rape/Mustard

seed

January 2010, February 2010 and

May 2010

03.11.09

Soya oil March 2010 21.01.10

Soya oil, Soya

bean and Soya

meal

April 2010, May 2010 and June

2010

26.02.10

7. COC, Hapur Mustard seed/ September 2009, November 2009 08.06.09

59

Rapeseed and January 2010

Mustard seed/

Rapeseed

March 2010, May 2010 and July

2010

17.11.09

Gur July 2009.

Commission permitted the above

delivery with modification in

Maximum/Minimum price limit

(from 15% to 20% and special

margin limit (from 10% in 1st slab

and 12% in 2nd

slab to 12% in 1st

slab and 16% in 2nd

slab

respectively.

09.06.09

Gur December 2009

Commission permitted the said

delivery with modification in

Daily/Weekly price fluctuation

limit ( from Rs. 40/- to Rs.60/-

per qntl.)

19.06.09

Gur March 2010

Commission permitted this Gur

delivery with the changes made by

the Exchange in i) Daily price

fluctuation limit from Rs.60/- per

qntl.to Rs.40/- per qntl., ii)

Maximum/ Minimum price limit

from 20% to 10% and iii) special

margin limit from 12% and 16%

(two slabs) to 8% (only one slab).

12.11.09

Gur May 2010 03.02.10

8. EIJHE, Kolkata TSD – Jute goods July – September 2009 16.06.09

TSD-Jute goods October – December 2009 21.07.09

TSD – Jute goods January – March 2010 21.10.09

TSD – Jute goods April – June 2010 18.01.10

Raw jute September 2009 03.08.09

Raw jute December 2009 21.10.09

Raw Jute February 2010 and March 2010 21.01.10

9. VBC,

Muzaffarnagar

Gur December 2009

Commission permitted the said

delivery with modifications in i)

Daily/ Weekly price fluctuation

limit (from Rs.40/- to Rs.60/- per

qntl.), Maximum/Minimum price

limit (from 15% to 20%) and

special margin limit (from 8% in 1st

slab and 12% in 2nd

slab to 12% in

1st slab and 16% in 2

nd slab

respectively).

19.06.09

Gur March 2010 12.11.09

Gur May 2010 21.01.10

10. MACE co. Ltd.,

Meerut

Gur December 2009

Commission permitted the said

delivery with modification in

Daily/Weekly price fluctuation

limit (from Rs.50/- to Rs.60/- per

qntl.)

19.06.09

60

Gur March 2010 26.10.09

Gur May 2010 25.01.10

Gur July 2010 31.03.10

11. CICE Ltd.,

Gwalior

Mustard seed November 2009 19.06.09

Mustard seed May 2010 16.09.09

12. FCEI, Kochi Coconut oil December 2009, January 2010,

February 2010 and March 2010

09.07.09

Copra December 2009, January 2010,

February 2010 and March 2010

18.09.09

Copra and

Coconut oil

April 2010, May 2010, June 2010

and July 2010

12.11.09

Copra and

Coconut oil

August 2010, September 2010,

October 2010 and November 2010

15.03.10

13. BOOE, Bhatinda Gur December 2009 15.07.09

Gur March 2010 04.11.09

Gur May 2010 01.02.10

14. RCEL, Rajkot Castor seed March 2010 08.09.09

Castor seed June 2010 01.02.10

15. BCE Ltd.,

Mumbai

Castor seed February 2010, April 2010, June

2010, August 2010, October 2010

and December 2010

16.09.09

16. SCOOA Ltd.,

Surendranagar

Kapas May 2010 11.08.09

61

Annexure IV

Guidelines for allowing position limits to the NAFED:

(a) To begin with, the aggregate position limits for NAFED would be restricted to the existing

member level limits or 15% of the market wide open interest whichever is higher for each

commodity. The existing client level limits would be applicable to the branches of

NAFED.

(b) The NAFED and its branches can avail of separate hedge limits apart from the normal

limits. These limits would be subject to specific conditions stipulated by the Exchange for

effective monitoring of utilization of the sanctioned hedge limits and subject to

submission of requisite documents, viz, branch application letter seeking exemptions,

approval of MD(or Senior official of NAFED authorized by MD) , identification of the

commodity and purpose of taking up the positions etc. No hedge exemptions would be

granted during near month period and the positions will be subjected to near month limit.

(c) The Managing Director of the NAFED will authorize and allocate limits to each of its

branches/office for each commodity. Such specific authorization should be submitted at

the time of seeking approval for exemption from the Exchange,

(d) The Exchange would monitor the position limits at NAFED level and at branch level on a

daily basis and any violation shall be dealt with as per the guidelines applicable for client

level OI violations and prescribed penalty shall be levied. The Exchange would put in

place proper mechanism to monitor such positions,

(e) The NAFED shall register its branches as separate clients with members of the Exchange

with distinctive client code to represent different branches,

(f) On observing any trading malpractice or undue influence on the market, exemptions in

limits would be forthwith withdrawn,

(g) The decision of the Exchange/FMC will be binding on NAFED and its branches.

62

Annexure V-A

GUIDELINES FOR GRANT OF RECOGNITION TO NEW

NATIONAL COMMODITY EXCHANGE UNDER THE PROVISIONS OF THE

FORWARD CONTRACTS (REGULATION)

Dated 14th May 2008

Preamble

Forward trading in commodities is regulated under the provisions of the Forward

Contracts (Regulation) Act, 1952 (hereinafter referred as FCR Act). The Associations / companies

organizing such trading are required to obtain recognition from the Government of India under the

FCR Act. At present, there are 22 recognized Commodity Exchanges including 3 National Multi

Commodity Exchanges (NMCEs).

2. The volumes of trades in the commodities derivative market has increased manifold after

setting up of electronic Exchanges with ‘national’ status.

3. Grant of recognition to new National Commodity Exchanges was done within the

framework of Press Note issued on 8th March 2002. 3 National Exchanges came in to existence in

late 2003 through this process. The Commodity Futures Markets has grown substantially since

then. There is a renewed interest in establishing new National Commodity Exchanges.

Accordingly, the question of formulation of a framework governing establishment of National

Commodity Exchanges was under consideration of Government for some time past. The

Government hereby lays down the revised guidelines for making an application for setting up of a

nation-wide Multi-Commodity Exchange in future, as under.

Revised Guidelines

4. A two stage process will be followed for granting recognition to a new Exchange.

First Stage

5. In the first stage, applications for setting up of a Nation-wide Multi Commodity Exchange

may be submitted by reputed associations / companies / organizations or consortium of such

entities to the Government through the Forward Markets Commission (hereinafter referred to as

the Commission), the commodity futures market regulator. The Government, on being satisfied

that it would be in the interest of trade and also in the public interest to do so, may grant in-

63

principle approval for setting up of a National Multi Commodity Exchange. In-principle approval

may be granted to the applicant who fulfills the following criteria:

5.1. The proposed Exchange, sponsored/promoted by Associations/ companies/organizations

or a consortium of such entities should be registered as a public limited company incorporated

under the Companies Act, 1956 with a minimum authorized equity capital of Rs. 100 crore.

5.2. The proposed Exchange shall have a demutualised structure, i.e., the share holders of the

Exchange shall not have any trading interest either as a trading member or as a client at the

Exchange.

5.3. While applying for in-principle approval, the proposed equity Shareholding pattern of the

Exchange should be as under –

a) One or more of the initial partners/members of the promoter consortium must be a

Government Company/ Companies, as defined in the Companies Act 1956,

contributing at least 26 % of the paid up equity capital of the proposed Exchange.

b) The Share holding of institutional investors as defined below shall not be less than

20% with a minimum of 10% from category (ii).

(i) Stock / Commodity Exchanges, Banks and public financial institutions;

(ii) Government Companies as defined in the Companies Act, 1956, Co-

operative Societies as defined in the Societies Act, Federations

manufacturing or marketing agri-inputs or marketing agri-produce or

owning and operating warehouses.

c) No individual shall hold more than 1% of the paid up equity capital of the

Exchange and the total of such individual holdings shall not exceed 25% of the

paid up capital.

d) Subject to the shareholding limits prescribed herein before, no single shareholder

either individually or together with persons acting in concert with it shall be

allowed to hold more than 40% of the paid up equity capital of the proposed

Exchange.

e) Investment in the initial paid up capital by shareholders shall be subject to a lock-

in period of three years from the date of recognition of the Exchange, except with

64

the prior approval of the Forward Markets Commission. However, in exceptional

cases the period can be relaxed by up to one year by the Forward Markets

Commission.

f) (i) Any investor having shareholding in excess of 26% has to bring it down to

26% or below within two years beginning with the 4th year from the date of

recognition of the Exchange.

(ii) After the expiry of the period as specified at (i), it will be obligatory on the

investors to align the shareholding pattern, as per the guidelines notified by the

Government from time to time.

5.4. The Exchange shall ensure complete separation of ownership and management. It shall

have a Professional management headed by a Chief Executive Officer. The appointment, renewal

and removal of the CEO shall be done in the manner as prescribed by the Commission.

5.5. The promoters of the proposed Exchange shall submit a formal agreement amongst

themselves on issues related to the setting up of the Exchange and written commitment for equity

investment from promoters/ investors, including institutional investors. The formal agreement

shall, inter alia, contain the extent of equity investment from each of the investors, equity holding

in the short and long term in the authorized and paid up capital of the Exchange, main place of

business and registered office, etc.

5.6. Each of the promoters of the proposed Exchange must be a fit and proper person. The

criteria for ‘a fit and proper person’, shall be as at Annexure-I.

6. Submission of proposal

6.1. The detailed proposal should be sent to the Chairman, Forward Markets Commission,

Government of India, Everest, 3rd

Floor, 100, Marine Drive, Mumbai – 400 002, along

with:

a) a non-refundable processing fee of Rs.5,00,000/- (Rupees Five Lakh only) in the form of

crossed demand draft issued by any nationalized bank in favour of Forward Markets

Commission, payable at Mumbai. Applications without the processing fee shall not be

entertained by FMC.

b) Details of the present business of each of the promoters/ constituents;

65

c) Networth of each of the promoters / constituents.

d) Audited accounts of each of the promoters / constituents for the last 3 years;

e) Business plan for the proposed Exchange and schedule for operationalisation of the

Exchange from the date of in-principle approval.

f) Proposed capital expenditure and sources of funds;

g) Clear confirmation of the location of the registered office and main place of business of

the proposed Exchange;

h) Affidavit by the authorized signatory of each of the promoters of the Exchange affirming

that they don’t attract the disqualifications listed at Annexure-I.

6.2. The proposal should be submitted in the form of a comprehensive Project Report giving,

inter-alia, justification for setting up a new exchange, details of the management structure,

investment plan, business plan, system of trading, clearing and settlement (including settlement

guarantee), customer protection, details of infrastructure for handling physical delivery including

the warehousing and assaying arrangements along with the strategy for implementation thereof.

However, FMC may seek other details, as it may deem appropriate.

7. Government may grant in-principle approval after taking into account the

recommendations of the Commission.

8. An applicant granted in-principle approval shall be required to submit to the FMC a bank

guarantee of Rs 50,00,000 (Rupees Fifty Lakh only) issued by a nationalized bank with a validity

period of 21 months and a further claim period of 3 months and drawn in favour of ‘Director,

Forward Markets Commission, Mumbai’, within fifteen days of grant of in-principle approval

for setting up the Exchange.

Second Stage

9. In the second stage, the applicant who has been granted in-principle approval will have

to comply with the following conditions within a period of one year from the date of grant of in-

principle approval. The Exchange shall:

(i) bring paid up capital of at least Rs 100 crore as per the proposed equity capital

structure subject to the guidelines of para 5(2);

66

(ii) set up facilities for online trading with national reach and an efficient real time

monitoring and surveillance system;

(iii) provide for an efficient clearing and settlement system including establishment of

a Settlement Guarantee Fund;

(iv) arrange for an efficient delivery mechanism through an adequate network of

accredited warehouses,

(v) have an independent and professional management;

(vi) provide for adequate infrastructure for dissemination of real time price and trade

information;

(vii) provide for adequate infrastructure for research and development on commodities,

contracts and development of trade;

(viii) submit draft rules, regulations and bye-laws for conduct of business for in-

principle approval of the Commission;

(ix) plan for a network of well organized and capitalized brokerage houses as

members and other intermediaries. However, no membership subscription or

deposit of any nature shall be collected before grant of recognition to the

Exchange. No shareholder shall be allowed to be a trading member of the

Exchange.

(x) Provide for efficient and effective grievance redressal mechanism.

10.1 In case of failure to fulfill the above laid down conditions within the stipulated time, the

Government reserves the right to revoke the in principle approval so granted without assigning

further reasons. Extension beyond the stipulated period may be granted only in exceptional cases

on genuine grounds but not exceeding three months.

10.2 In the event of the applicant failing to establish the Exchange within the stipulated period

of time or extended period of time, as the case may be the bank guarantee shall be invoked and the

amount shall be forfeited.

67

11. The Government, on satisfactory fulfillment of the condition stipulated and after taking in to

account the recommendations of the Commission in this regard, may grant recognition to the

proposed Exchange.

12. The Government / FMC reserves the right to prescribe any other condition if it deems fit

for orderly developments of the market and reject an application at any stage without assigning

any reasons.

68

CRITERION FOR A PERSON TO BE DEEMED TO BE ‘A FIT AND PROPER PERSON’

For the purpose of these guidelines, a person shall be deemed to be a fit and proper person

if -

(i) such person has a general reputation and record of fairness and integrity, including but

not limited to –

(a) financial integrity;

(b) good reputation and character; and

(c) honesty.

(ii) such person has not incurred any of the following dis-qualifications -

(a) the person or any of its whole time directors or managing partners has been

convicted by a Court for any offence involving moral turpitude or any

economic offence, or any offence against any laws;

(b) an order for winding up has been passed against the person;

(c) the person or any of its whole time directors or managing partners has been

declared insolvent and has not been discharged;

(d) an order, restraining, prohibiting or debarring the person, or any of its whole

time directors or managing partners from dealing in commodities / securities

or from accessing the market has been passed by any regulatory authority

and a period of three years from the date of the expiry of the period specified

in the order has not elapsed;

(e) any other order against the person or any of its whole time directors or

managing partners which has a bearing on the commodities market, has been

passed by any regulatory authority and a period of three years from the date

of the order has not elapsed;

(f) the person has been found to be of unsound mind by a Court of competent

jurisdiction and the finding is in force; and

(g) the person is financially not sound.

(iii) If any question arises as to whether a person is a fit and proper person, the

decision of the Forward markets Commission in this behalf shall be final.

69

Annexure V (B)

Guidelines on the Equity Structure of the

Nationwide Multi Commodity Exchanges after five years of operation∗

F. No. 12/1/2007-IT Dated 29th

July 2009

Preamble

The Commodity Futures Derivative markets were opened up in 2002 and have witnessed very

rapid growth thereafter. The commodity exchanges have played a key role in their expansion. The

Government recognized and licenced three Nationwide Multi Commodity Exchanges (NMCEs) -

MCX, NCDEX and NMCE – who have completed five years of their operations in the commodity

derivatives market (CDM). The Forward Markets Commission has been issuing, from time to time

guidelines and directions aimed at better governance, transparency and investor confidence in the

CDM.

2. Recently, on May 14,2008, the Government has issued guidelines for setting up of a new

National Multi Commodity Exchange to further strengthen the existing infrastructure in CDM. In

the said Guidelines, para No. 5.3 has set the framework for shareholding and clause (f) of the said

para has provided for the revision of shareholding of a Nationwide Multi Commodity Exchange

(hereinafter referred to as “National Commodity Exchange” or “NCE” in short) after the

completion of 5 years of operation in the CDM. Therefore, all the National Commodity Exchanges

after completion of 5 years of operations need to align their shareholding pattern with the

shareholding pattern as specified below, within a period of one year failing which the concerned

National Exchange will be liable to lose its national status. This would mean that its recognition

for all commodities notified under section 15 or

∗

As Amended vide F. No. 12/1/2007-IT, dated 9th

July 2010

70

otherwise not prohibited under section 17 of the Forward Contracts (Regulation) Act, 1952 will be

converted into recognition in specific commodities as may be listed in the recognition notification

and that too for specified period which will need to be renewed from time to time. The said period

of one year may be extended by the Forward Markets Commission in exceptional cases on

genuine grounds for a further period not exceeding one year.

(Explanation: “National Commodity Exchange” means a demutualised Commodity Derivative

Exchange with an independent professional management, an electronic trading platform, all India

operations and recognized under section 6 of the Forward Contracts (Regulation) Act, 1952 for

trading in all commodities notified u/s 15 or otherwise not prohibited for trading u/s 17 of the said

Act.)

This issue has been under the consideration of the Government for some time and it is

now pleased to issue the following guidelines in this behalf.

Guidelines

3. Government has powers to issue new guidelines. Guidelines for conversion of Regional

Exchanges into National Commodity Exchange needs to be spelt out. This issue has been under

the consideration of the Government for some time back and after revisiting and reviewing the

current ownership structure of the existing National Commodity Exchanges, the following

Guidelines are laid down:

3.1 All National Commodity Exchanges should have a paid up equity capital of atleast Rs. 50

crore and Networth* of atleast Rs. 100 crore as a going concern and on a continuous basis.

(* Note: Networth is defined in the enclosed Note 1)

3.2 The total shareholding of the class of entities mentioned below should not be less than 26%:

i. Government Companies, as defined in the Companies Act 1956;

ii. Banks and Public financial institutions;

iii. Government Companies as defined in the Companies Act, 1956, Cooperative

Societies as defined in the Societies Act and Federations

∗

Clause 3.3 amended vide F. No. 12/1/2007-IT, dated 9th

July 2010

manufacturing or marketing agri inputs or marketing agri-produce or owning and

operating warehouses; and

iv. Warehousing Companies in the private sector having minimum five years’

standing in warehousing business and owning and operating warehouses in at

least two states.

However, the total shareholding of the Government companies mentioned in sub paras (i)

and (iii) above shall not be less than 10%.

3.3∗ No shareholder, except the original promoters/investors, at the time of recognition as

an NCE, either individually or together with persons acting in concert with it,

shall hold more than 15% of the paid up equity capital of the Exchange. For

original promoters/investors this limit will be the maximum of 26%.

In case the shareholding of each of the original promoters/investors including the

Anchor-Investor falls below 15%, one of the shareholders including the new

shareholders may be allowed by FMC to act as Anchor-Investor and to increase

its equity shareholding to a maximum of 26%.

The shareholding of Stock / Commodity Exchange (s) will, however, be governed

by the conditions contained in Para 3.4 of these guidelines.

71

(Explanation: “Anchor-Investor” is an investor who plays the lead role in managing the

National Commodity Exchange.)”

∗

Clause 3.4 amended vide F. No. 12/1/2007-IT, dated 9th

July 2010

3.4∗ (a) The shareholding of any single Stock Exchange alongwith the persons acting in

concert shall not be more than 5% of the subscribed and paid up equity capital of

the said National Commodity Exchange. The cumulative shareholding of Stock

Exchanges in the relevant National Commodity Exchange shall not be more than

10%.

(b) The shareholding of any single Commodity Exchange alongwith the persons acting in

concert shall not be more than 15% of the subscribed and paid up equity capital of

the said National Commodity Exchange.

(c) The cumulative shareholding of all Stock / Commodity Exchanges alongwith the

persons acting in concert in the relevant National Commodity Exchange shall not

be more than 20% at any given point of time.”

3.5 The shareholders of the Exchange shall not have any trading interest either as a trading

member or as a client of the Exchange. The shareholding of a broker/member of any other

commodity exchange shall not exceed 1% and the total shareholding of all such

brokers/members taken together shall not exceed 10% of the paid up equity capital. They

will also not hold any seat in the Management/ Board of the Exchange.

3.6 No non-corporate entity, apart from those covered by the preceding para 3.5, shall hold more

than one percent of the paid up equity capital of the Exchange and the total of such

holdings together with that of those covered by para 3.5 shall not exceed 25% of the paid

up equity capital of the Exchange.

3.7 Allotment of shares to foreign entities must be in conformity with the provisions of the Press

Note no. 2 of 2008 dated March 12, 2008 issued by the Department of Industrial Policy &

Promotion, Government of India, subject to any changes therein made by the Government

from time to time.

72

3.8 It is obligatory on all shareholders of the Exchange to align the shareholding pattern, as per

these present guidelines and guidelines that may be issued by the Government/ Forward

Markets Commission from time to tome.

4 The Exchange shall confirm to the Commission in writing that the investors in whose favour the

divestment/fresh issue of equity is made, fulfill the criteria for ‘a fit and proper person’ as defined

in the enclosed Note 2.

5. All disinvestments or fresh issue of equity shares of more than 1% shall be subject to the prior

approval of the Forward Markets Commission and before seeking such approval, the Exchange

should ensure that the proposal satisfies the above requirements.

6. As far as the existing National Commodities Exchanges are concerned, the last date for

compliance with the above guidelines (except for amended para 3.4) shall be 30th

September 2010,

which can be extended by the Forward Markets Commission upto 30th

September, 2011 in

exceptional cases on genuine grounds. Provided that the last date for compliance with the

condition at para 3.4 would be 31st

December, 2010 which could further be extended upto 31st

March, 2011 by the Forward Markets Commission in exceptional cases on genuine grounds

( Brij Mohan ) Director(IT).

73

Note 1

Networth: The networth for the purposes of these guidelines will be computed as under:

1. Paid up equity share capital

Add

2. Non-redeemable preference shares capital

3. Share premium paid in cash

4. Reserves and surplus ( excluding capital reserve, revaluation reserve, and such other reserves

which have been earmarked for specific purposes and are not available for distribution)

Less

5. Loans and advances except for the ones given for the purposes of business of the Exchange.

6. Investments in non-quoted companies for the purposes other than developing infrastructure for

or in the Commodity Sector.

7. Investments in the non-marketable securities.

8. Investment in the quoted securities in excess of 10 % of total equity fund.

9. Intangible assets acquired for cash for purposes other than the business of the Exchange.

74

Note 2

CRITERION FOR A PERSON TO BE DEEMED TO BE

‘A FIT AND PROPER PERSON’

For the purpose of these guidelines, a person shall be deemed to be a fit and proper person

if -

(i) such person has a general reputation and record of fairness and integrity, including but not

limited to –

(a) financial integrity;

(b) good reputation and character; and

(c) honesty.

(ii) such person has not incurred any of the following dis-qualifications -

(a) the person or any of its whole time directors or managing partners has been

convicted by a Court for any offence involving moral turpitude or any

economic offence, or any offence against any laws;

(b) an order for winding up has been passed against the person;

(c) the person or any of its whole time directors or managing partners has been

declared insolvent and has not been discharged;

(d) an order, restraining, prohibiting or debarring the person, or any of its whole time

directors or managing partners from dealing in commodities / securities or

from accessing the market has been passed by any regulatory authority and a

period of three years from the date of the expiry of the period specified in the

order has not elapsed;

(e) any other order against the person or any of its whole time directors or managing

partners which has a bearing on the commodities market, has been passed by

any regulatory authority and a period of three years from the date of the order

has not elapsed;

(f) the person has been found to be of unsound mind by a Court of competent

jurisdiction and the finding is in force; and

(g) the person is financially not sound.

(iii) If any question arises as to whether a person is a fit and proper person, the decision of the

Forward markets Commission in this behalf shall be final.

75

Annexure VI

Uniform penalty structure

Sr.No. Particulars of Violations Uniform Penalties

1 Maintenance of Books of

Accounts/Records/ Registers

partially/not maintained

Non-maintenance of (a) Soudha Book

(b) Client Ledger (c) General Ledger

(d) Journals (e) Cash Book (f) Bank Pass Book :

Minimum of Rs. 25,000/- and Maximum of Rs.

50,000/- per register or / and deactivation of

trading terminals till compliance is done.

Not maintained the above mentioned books/

ledgers properly: Minimum of

Rs. 10,000/- and Maximum of Rs. 25,000/- per

register.

MCA & KYC Norms

2 KYC Forms formalities - not

maintained or /and not

maintained properly

Rs. 10,000/- per client.

3 (a) Non-obtainment/ Member-

client agreement

(b) Discrepancies/ deviation

from the prescribed member-

client agreement, if such

discrepancies/ deviations are

detrimental to clients

Rs. 10,000/- per client.

4 Risk Disclosure Document not

obtained from clients/incomplete

Rs. 5,000/- per client.

Clients Related

5 Non-segregation of clients money Rs. 25,000/- or 1% on the non segregated client

money, which ever is higher.

6 Use of clients funds for own

purpose / for other clients.

Rs. 50,000/- or 1 % per month of the money

utilized, whichever is higher.

7 Delay in Payment of Funds to

Clients Account / Delay in

transfer of Commodities to

Clients

Rs. 5,000/- - Rs. 25,000/- per instance.

8 Delay in Payment of Funds to

Clients / Delay in transfer of

Commodities to Clients beyond

15 days from the date of receipt

of request from Clients

Rs. 50,000/-or 1% of the value of the amounts /

commodities, per instance

9 More than one ID to a client Rs. 10,000/- per ID

10 Non-maintenance of client

code/non mapping of trading

code.

Rs. 10,000/- per client

11

(a)

Contract Note – non-issued Rs. 10,000/- per client

11

(b)

Belated issue/no proof of receipt

of contract note.

Rs. 5,000/- per client

12 Non-maintenance of duplicate

copies of contract note sent.

Rs. 5000/- per client

13 Non-maintenance Rs. 10,000/- per Register per office

76

Sr.No. Particulars of Violations Uniform Penalties

Grievance/Complaints Register

14

(a)

Margin collection: non-

collection/partial collection

0.1% of the margin not collected.

14

(b)

Adopting procedure (like use of

pro-code for client trade) to evade

margin

0.5% per day of the margin money evaded or

Rs. 5,000/- per day, whichever is higher.

15 Net worth certificate- non-

production/improper

Rs. 200/- per day.

16 Non-display of Information Board

including details of Registration

details as prescribed by the

Exchange.

Rs. 10,000/- per office.

17 Unauthorized or Illegal Trading

activities / Fictitious Transactions

Minimum of Rs.1 lakh per case and Max.Rs.5

lakh .

Offences like contract notes / wash trades will

be investigated by the exchange and other

penalty provisions termination / suspension of

members will be imposed.

18 Violation of the Advertisement

Code of the Exchange

Rs. 5,000/- per instance

19 Trading (TWS/CTCL) terminals

provided to intermediaries or

unauthorized extension of trading

net work / non submission of

required details of CTCL

terminals to the Exchange

First Instance – Rs.25,000/- per terminal.

Repeated Instances - Rs.50,000/- per terminal

and / or deactivation of trading terminals till the

compliance is made.

20 Non-payment of statutory dues /

duties / fees etc.

Some mechanism for taking disciplinary action

to be put in place to improve compliance. The

provisions, however, in no way should interfere

with the penal provisions in the respective Acts.

Note: i) In addition to the financial penalties prescribed in the table above, if serious violations

noticed, the Exchange shall deactivate trading terminals of Members and initiate disciplinary

proceedings, which may culminate in suspension of Membership.

ii.)Non-compliance of the statutory requirements by the Members will lead to disciplinary

proceedings

77

Annexure VII - A

Details of Awareness Programmes organized during the year 2009-10

S. No. Name of the lead Exchange Category Place Date

1 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Student ICFAI

Vijayawad

a

18.4.2009

2 National Multi Commodity

Exchange of India Ltd.,

Ahmedabad

General Punalur

(Kerala)

20.4.2009

3 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Student Guntur

21.4.2009

4 Multi Commodity Exchange of

India, Mumbai

State Marketing

Board

Pune 22.4.2009

5 MCX, Mumbai General Delhi 16.5.2009

6 MCX, Mumbai General Delhi

18.5.2009

7 National Multi Commodity

Exchange of India Ltd.,

Ahmedabad

Traders

(Rubber)

Kottayam 20.5.2009

8 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Turmeric

Traders

Nizamaba

d, A.P.

22.5.2009

9 National Multi Commodity

Exchange of India Ltd.,

Ahmedabad

General Idukki 23.5.2009

10 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Turmeric

Traders

Sangli

Maharasht

ra

27.5.2009*

11 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Turmeric

Traders

Erode,

T.N.

30.5.2009

12 National Multi Commodity

Exchange of India Ltd.,

Ahmedabad

General Ponkunna

m (Kerala)

30.5.2009

13 Multi Commodity Exchange of

India, Mumbai

General Srigangan

agar

30.5.2009

14 MCX-GSK Farmers Mozari

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

2.6.2009

15 MCX-GSK Farmers Giroli

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

2.6.2009

78

S. No. Name of the lead Exchange Category Place Date

16 MCX-GSK Farmers Pimpalgao

n (Deoli

GSK, Dist

Wardha,

Maharasht

ra)

3.6.2009

17 MCX-GSK

Farmers

Shirpur

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

3.6.2009

18 MCX-GSK

Farmers

Gaul

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

4.6.2009

19 MCX-GSK

Farmers

Nagzari

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

4.6.2009

20 MCX-GSK

Farmers

Selsura

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

5.6.2009

21 MCX-GSK

Farmers

Watkhed

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

5.6.2009

22 MCX-GSK

Farmers

Andori

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

6.6.2009

23 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Hedgers Mandi

Gobindgar

h, Punjab

8.6.2009

24 Multi Commodity Exchange of

India, Mumbai

- UAS Bangalore

Farmers Kodagu,

Karnataka

9.6.2009

25 MCX-GSK

Farmers

Kalwadi

(Akot

GSK, Dist

Akola,

15.6.2009

79

S. No. Name of the lead Exchange Category Place Date

Maharasht

ra)

26 MCX-GSK

Farmers

Asegaon

(Akot

GSK, Dist

Akola,

Maharasht

ra)

16.6.2009

27 MCX-GSK

Farmers

Punda

(Akot

GSK, Dist

Akola,

Maharasht

ra)

16.6.2009

28 MCX-GSK

Farmers

Sawara

(Akot

GSK, Dist

Akola,

Maharasht

ra)

17.6.2009

29 MCX-GSK

Farmers

Kutasa

(Akot

GSK, Dist

Akola,

Maharasht

ra)

17.6.2009

30 MCX-GSK

Farmers

Palsod

(Akot

GSK, Dist

Akola,

Maharasht

ra)

18.6.2009

31 MCX-GSK

Farmers

Chandikap

ur (Akot

GSK, Dist

Akola,

Maharasht

ra)

18.6.2009

32 MCX-GSK

Farmers

Akolkhed

(Akot

GSK, Dist

Akola,

Maharasht

ra)

19.6.2009

33 MCX-GSK

Farmers

Ruikhed

(Akot

GSK, Dist

Akola,

Maharasht

19.6.2009

80

S. No. Name of the lead Exchange Category Place Date

ra)

34 MCX-GSK

Farmers

Panaj

(Akot

GSK, Dist

Akola,

Maharasht

ra)

20.6.2009

35 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Traders Kanpur

20.6.2009

36 Rajkot Commodity Exchange Ltd.,

Rajkot

Farmers Junagadh 21.6.2009

37 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumba

i

Traders Barielly,

U.P.

21.6.2009

38 National Multi Commodity

Exchange of India Ltd.,

Ahmedabad

Farmers Anchal,

Kollam

23.6.2009

39 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Students Navsari,

Gujarat [

Institute of

Agribusin

es

Managem

ent,

Agricultur

al

University

, Navsari]

25.6.2009

40 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Traders

(Guarseed/

gum)

Palanpur

(Gujarat)

27.6.2009

41 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

General Sri

Gangaa

Nagar

3.7.2009

42 MCX-GSK

Farmers

Belati

(Solapur

GSK,

Maharasht

ra)

3.7.2009

43 MCX-GSK

Farmers

Darganhal

li (Solapur

GSK,

Maharasht

ra)

3.7.2009

44 National Multi Commodity

Exchange of India Ltd.,

Ahmedabad

Farmers Kottayam 4.7.2009

45 MCX-GSK

Farmers

Musti

(Solapur

4.7.2009

81

S. No. Name of the lead Exchange Category Place Date

GSK,

Maharasht

ra)

46 MCX-GSK

Farmers

Ule

(Solapur

GSK,

Maharasht

ra)

4.7.2009

47 MCX-GSK

Farmers

Kasegaon

(Solapur

GSK,

Maharasht

ra)

5.7.2009

48 MCX-GSK

Farmers

Nandani

(Solapur

GSK,

Maharasht

ra)

6.7.2009

49 MCX-GSK

Farmers

Hagloor

(Solapur

GSK,

Maharasht

ra)

6.7.2009

50 MCX-GSK

Farmers

Boramani

(Solapur

GSK,

Maharasht

ra)

7.7.2009

51 MCX-GSK

Farmers

Pathri

(Solapur

GSK,

Maharasht

ra)

7.7.2009

52 Multi Commodity Exchange of

India, Mumbai

Students Bapatla

Agricultur

al College

– Guntur

(AP)

17.7.2009

53 MCX General Bangalore

17.7.2009

54 Multi Commodity Exchange of

India, Mumbai

General Itarsi 18.7.2009

55 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Students Xavier’s

Institute of

Managem

ent,

Bhubanes

hwar

18.7.2009

56 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Students MITCON

Institute of

25.7.2009

82

S. No. Name of the lead Exchange Category Place Date

Managem

ent, Pune

57 FCEI General Kangeyem

T.N.

25.7.2009

58 National Commodity & Derivatives

Exchange Ltd., (NCDEX), Mumbai

Students Baramati

Vidya

Pratishtha

n Institute

of

Informatio

n

Technolog

y,

28.7.2009

59 MCX Mandi Vashi

Mandi

31.7.2009

60 MCX-CIFA Farmers

Bangalore 9.8.2009

61 NMCE, Ahmedabad Farmers Banaskant

ha

College of

Agri

business

Managem

ent, SD

Agricultur

al

University

10.8.2009

62 NMCE, Ahmedabad Farmers Kollam

Kerala

17.8.2009

63 MCX, Mumbai Farmers Hyderaba

d

20.8.2009

64 NCDEX Students

Prestige

Institute of

Managem

ent, Indore

20.8.2009

65 NMCE, Ahmedabad Farmers Ernakulam

Kerala

21.8.2009

66 NCDEX General

MDI,

Bank of

India,

Mumbai

24.8.2009

67 MCX-CIFA Farmers

Coimbator

e

24.8.2009

68 NCDEX Students

Bikaner 28.8.2009

69 MCX Members Mumbai

29.8.2009

70 NMCE, Ahmedabad

Hedgers Ludhiana 3.9.2009

83

S. No. Name of the lead Exchange Category Place Date

71 NMCE, Ahmedabad

Hedgers Jalandhar 4.9.2009

72 NCDEX, Mumbai

Students IBS

Bangalore

8.9.2009

73 MCX, Mumbai

General Trichy 8.9.2009

74 MCX, Mumbai

Mandi Board Indore 9.9.2009

75 NCDEX, Mumbai

Members Nagour

(Rajasthan

)

18.9.2009

76 NCDEX, Mumbai

Members Nokha,

(Rajasthan

)

19.9.2009

77 NCDEX, Mumbai Students LIBA

Layola

Colleg`e,

Chennai

22.9.2009

78 NCDEX, Mumbai General Ghaziabad 23.9.2009

79 NCDEX, Mumbai Students Kohinor

Business

Scholl,

Khandala

26.9.2009

80 NMCE, Ahmedabad Farmers Wayanad

– Kerala

26.9.2009

81 MCX, Mumbai

Traders Ahmedaba

d

3.10.2009

82 NMCE, Ahmedabad

Farmers Kozhicode

(Oleena

Mahila-

samajam)

3.10.2009

83 NMCE, Ahmedabad Mandi Board Gandhina

gar

7.10.2009

84 MCX, Mumbai

Traders Srigangan

agar

10.10.2009

85 MCX-GSK

Farmers

Ringankha

pa

(Pandhurn

a GSK;

Dist

Chindwar

a, M.P.)

12.10 2009

86 MCX-GSK

Farmers

Changoba

(Pandhurn

a GSK;

Dist

Chindwar

a

13.10.2009

84

S. No. Name of the lead Exchange Category Place Date

87 MCX-GSK

Farmers

Nandanba

di

(Pandhurn

a GSK;

Dist

Chindwar

a

13.10.2009

88 MCX-GSK

Farmers

Kondali

(Pandhurn

a GSK;

Dist

Chindwar

a

14.10.2009

89 MCX-GSK

Farmers

Parsodi

(Pandhurn

a GSK;

Dist

Chindwar

a

14.10.2009

90 NCDEX, Mumbai Students Udaipur -

Pacific

Institute

14.10.2009

91 MCX-GSK

Farmers

Dhanora

(Pandhurn

a GSK;

Dist

Chindwar

a

15.10.2009

92 MCX-GSK

Farmers

Dhavdikh

apa

(Pandhurn

a GSK;

Dist

Chindwar

a

15.10.2009

93 NCDEX, Mumbai

Students IIM

Indore

19.10.2009

94 NCDEX, Mumbai Students Nagpur -

Centum

Learning

Centre

23.10.2009

95 NCDEX, Mumbai

Members Kota,

Rajasthan

24.10.2009

96 NMCE, Ahmedabad

Farmers Calicut 24.10.2009

97 MCX-GSK

Farmers

Chikni

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

27.10.2009

98 MCX-GSK Farmers Sonegaon 28.10.2009

85

S. No. Name of the lead Exchange Category Place Date

Abaji

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

99 MCX-GSK

Farmers

Padhegao

n (Deoli

GSK, Dist

Wardha,

Maharasht

ra)

28.10.2009

100 MCX-GSK

Farmers

Wabgaon

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

29.10.2009

101 MCX-GSK

Farmers

Nandora

Dafre

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

29.10.2009

102 NCDEX, Mumbai

Students IIM

Bangalore

29.10.2009

103 MCX-GSK

Farmers

Khangaon

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

30.10.2009

104 MCX-GSK

Farmers

Kangaon

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

30.10.2009

105 MCX-GSK

Farmers

Kapsi

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

31.10.2009

106 MCX-GSK

Farmers

Bhidi

(Deoli

GSK, Dist

Wardha,

Maharasht

ra)

31.10.2009

107 MCX-GSK

Farmers

Bordi

Branch

3.11.2009

86

S. No. Name of the lead Exchange Category Place Date

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

108 MCX-GSK

Farmers

Umara

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

4.11.2009

109 MCX-GSK

Farmers

Deori

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

4.11.2009

110 MCX-GSK

Farmers

Danori-

Panori

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

5.11.2009

111 MCX-GSK

Farmers

Kawasa

Bk.

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

5.11.2009

112 MCX-GSK

Farmers

Warur

Jaulka

Branch

Post

Office

(Akot

6.11.2009

87

S. No. Name of the lead Exchange Category Place Date

GSK, Dist

Akola,

Maharasht

ra)

113 MCX-GSK

Farmers

Wadali

Deshmukh

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

6.11.2009

114 MCX-GSK

Farmers

Khirkund

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

7.11.2009

115 MCX-GSK

Farmers

Mohala

Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

7.11.2009

116 MCX-GSK

Farmers

Popatkhed

a Branch

Post

Office

(Akot

GSK, Dist

Akola,

Maharasht

ra)

8.11.2009

117 MCX-GSK

Farmers

Gharphal

Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

13.11.2009

118 MCX, Mumbai Students IES,

Bandra,

14.11.2009

88

S. No. Name of the lead Exchange Category Place Date

Mumbai

119 NMCE, Ahmedabad

Farmers Palakkad 14.11.2009

120 MCX-GSK

Farmers

Pachkhed

Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

14.11.2009

121 MCX-GSK

Farmers

Watkhed

Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

14.11.2009

122 NCDEX, Mumbai Students IIT

Chennai

15.11.2009

123 MCX-GSK

Farmers

Ganori

Branch

Post

Offiice

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

15.11.2009

124 MCX-GSK

Farmers

Kotamba

Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

15.11.2009

125 MCX-GSK

Farmers

Phalegaon

Branch

Post

Office

(Babhulga

16.11.2009

89

S. No. Name of the lead Exchange Category Place Date

on GSK,

Dist

Yavatmal,

Maharasht

ra)

126 MCX-GSK

Farmers

Sarul

Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

16.11.2009

127 MCX-GSK

Farmers

Kharda

Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

17.11.2009

128 MCX-GSK

Farmers

Pimpalkhu

ta Branch

Post

Office

(Babhulga

on GSK,

Dist

Yavatmal,

Maharasht

ra)

17.11.2009

129 NCDEX, Mumbai

Member and

Physical Traders

Guntur 18.11.2009

130 NCDEX, Mumbai Students IIM

Lucknow

21.11.2009

131 NCDEX, Mumbai Students Institute of

Managem

ent, Nirma

University

(IMNU),

Ahmedaba

d

26.11.2009

132 MCX-GSK

Farmers

Bamhanpu

r Branch

Post

1.12.2009

90

S. No. Name of the lead Exchange Category Place Date

Office

(Jais GSK,

Dist

RaeBareli,

U.P.)

133 MCX-GSK

Farmers

Pariya

Namaskar

Branch

Post

Office

(Jais GSK,

Dist

RaeBareli,

U.P.)

2.12.2009

134 MCX-GSK

Farmers

Barkhurrd

arpur

Branch

Post

Office

(Jais GSK,

Dist

RaeBareli,

U.P.)

3.12.2009

135 MCX-GSK

Farmers

Kanta

Branch

Post

Office

(Jais GSK,

Dist

RaeBareli,

U.P.)

4.12.2009

136 MCX, Mumbai Traders Kakinada 4.12.2009

137 MCX, Mumbai

Market Inter-

mediaries

Rajahmu

mdry

5.12.2009

138 NCDEX, Mumbai

Members and

Traders

Jammu 5.12.2009

139 MCX-GSK

Farmers

Ashrafpur

Branch

Post office

(Nasiraba

d GSK,

Dist

RaeBareli,

U.P.)

5.12.2009

140 MCX-GSK

Farmers

Lahenga

Branch

Post office

(Nasiraba

d GSK,

Dist

RaeBareli,

U.P.)

6.12.2009

141 MCX-GSK

Farmers

Sujwari

Branch

7.12.2009

91

S. No. Name of the lead Exchange Category Place Date

Post office

(Nasiraba

d GSK,

Dist

RaeBareli,

U.P.)

142 MCX-GSK

Farmers

Alampur

Branch

Post office

(Nasiraba

d GSK,

Dist

RaeBareli,

U.P.)

8.12.2009

143 NCDEX, Mumbai

Students PSG

Institute of

Managem

ent,

Coimbator

e, Tamil

Nadu

8.12.2009

144 NCDEX, Mumbai Members and

Traders

Bhubhane

shwar

12.12.2009

145 MCX, Mumbai Students Nagpur 14.12.2009

146 MCX, Mumbai Mandi Board Lucknow 14.12.2009

147 MCX-GSK

Farmers

Thulwasa

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

15.12.2009

148 MCX-GSK

Farmers

Pahremau

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

16.12.2009

149 MCX-GSK

Farmers

Amavan

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

17.12.2009

150 MCX Mumbai General Visakapat

anam

18.12.2009

151 NCDEX, Mumbai

Students Assam

Institute of

Managem

18.12.2009

92

S. No. Name of the lead Exchange Category Place Date

ent,

Guwahati,

Assam

152 NCDEX, Mumbai

Students Darwin

Institute of

Manage-

ment,

Guwahati,

Assam

18.12.2009

153 NCDEX, Mumbai

Members and

Traders

Ranchi 18.12.2009

154 MCX, Mumbai Physical market

traders

Jodhpur 19.12.2009

155 MCX-GSK

Farmers

Oandeeh

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

19.12.2009

156 MCX-GSK

Farmers

Jyona

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

20.12.2009

157 MCX-GSK

Farmers

Janai

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

21.12.2009

158 MCX-GSK

Farmers

Teesakhan

pur

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.)

22.12.2009

159 MCX-GSK

Farmers

Bahadur

nagar

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

23.12.2009

93

S. No. Name of the lead Exchange Category Place Date

U.P.)

160 MCX-GSK

Farmers

Sidhona

Branch

Post office

(Maharajg

anj GSK,

Dist

RaeBareli,

U.P.

24.12.2009

161 MCX, Mumbai General Tenali 29.12.2009

162 NCDEX, Mumbai

Traders Varnasi 2.1.2010

163 MCX-GSK

Farmers

Umaran

Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

2.1.2010

164 MCX-GSK

Farmers

Sareni

Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

3.1.2010

165 MCX-GSK

Farmers

Badangao

n Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

4.1.2010

166 MCX-GSK

Farmers

Daulatpur

Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

5.1.2010

167 NIAM, Jaipur Farmers Koderma

Jharkhand

5.1.2010

168 NIAM, Jaipur

Farmers Girdeeh

Jharkhand

6.1.2010

169 NIAM, Jaipur

Farmers Baran

Rajasthan

6.1.2010

170 MCX, Mumbai General Bangalore 6.1.2010

94

S. No. Name of the lead Exchange Category Place Date

171 MCX-GSK

Farmers

Mavai

Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

6.1.2010

172 MCX-GSK

Farmers

Kandrawa

n Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

7.1.2010

173 MCX-GSK

Farmers

Pachakhar

a Branch

Post office

(Mustafab

ad GSK,

Dist

RaeBareli,

U.P.)

8.1.2010

174 NIAM, Jaipur

Farmers Kota

Rajasthan

8.1.2010

175 MCX, Mumbai General Vijawada 9.1.2010

176 NIAM, Jaipur

Farmers Deoghar

Jharkhand

9.1.2010

177 NIAM, Jaipur

Farmers Dausa

Rajasthan

10.1.2010

178 MCX, Mumbai Traders Mumbai 11.1.2010

179 NIAM, Jaipur

Farmers Jamtara

Jharkhand

12.1.2010

180 NIAM, Jaipur

Farmers Bokaro

Jharkhand

13.1.2010

181 NIAM, Jaipur

Farmers Sundergar

h

Orissa

15.1.2010

182 NIAM, Jaipur

Farmers Bageshwa

r

Uttarakha

nd

15.01.2010

183 NIAM, Jaipur

Farmers Keonjhar

Orissa

16.1.2010

184 MCX, Mumbai Investors and Guwahati 16.1.2010

95

S. No. Name of the lead Exchange Category Place Date

members/

(Clients,

Hedgers and

members.)

185 NCDEX, Mumbai

Traders Hissar 16.1.2010

186 NCDEX, Mumbai

Traders Narela,

Delhi

16.1.2010

187 NCDEX, Mumbai

Traders Alwar 16.1.2010

188 CIFA Farmers Raipur,

Chattisgar

h

17.1.2010

189 NIAM, Jaipur

Farmers Deogarh

Orissa

17.1.2010

190 NIAM, Jaipur

Farmers Belgaum

Karnataka

17.1.2010

191

NIAM, Jaipur

Farmers Sambhalp

ur

Orissa

18.1.2010

192 NIAM, Jaipur

Farmers Etawa

Uttar

Pradesh

18.1.2010

193 NIAM, Jaipur

Farmers Pauri

Garhwal

Uttarakha

nd

18.1.2010

194 NIAM, Jaipur

Farmers Mainpuri

Uttar

Pradesh

19.1.2010

195 NIAM, Jaipur

Farmers Jharsugud

a

Orissa

19.1.2010

196 NIAM, Jaipur

Farmers Lekh

Saraien

Bihar

19.1.2010

197 NIAM, Jaipur

Farmers Ghansali

Uttarakha

nd

19.1.2010

198 MCX-GSK

Farmers

Lalumau

Branch

Post office

(Lalganj

GSK, Dist

RaeBareli,

U.P.)

19.1.2010

199 MCX-GSK

Farmers

Ambara

Pashchim

Branch

Post office

(Lalganj

GSK, Dist

20.1.2010

96

S. No. Name of the lead Exchange Category Place Date

RaeBareli,

U.P.)

200 NIAM, Jaipur

Farmers Shekhpura

Bihar

20.1.2010

201 NIAM, Jaipur

Farmers Firozabad

Uttar

Pradesh

20.1.2010

202 MCX, Mumbai

Cochin

University of

Science and

Technology

Cochin 20.1.2010

203 NIAM, Jaipur

Farmers Mathura

Uttar

Pradesh

21.1.2010

204 NIAM, Jaipur

Farmers Munger

Bihar

21.1.2010

205 MCX, Mumbai

Mandi Ranch,

Jharkhand

21.1.2010

206 MCX-GSK

Farmers

Deepemau

Branch

Post office

(Lalganj

GSK, Dist

RaeBareli,

U.P.)

21.1.2010

207 NCDEX, Mumbai

Farmers Agricultur

al

University

, Rahuri

Ahmedna

gar

22.1.2010

208 MCX-GSK

Farmers

Akauni

Branch

Post office

(Lalganj

GSK, Dist

RaeBareli,

U.P.)

22.1.2010

209 NIAM, Jaipur

Farmers Khagaria

Bihar

22.1.2010

210 NIAM, Jaipur

Farmers Paonta

Sahib

(Sirmor),

Himachal

Pradesh

22.1.2010

211 NIAM, Jaipur

Farmers Madhepur

a

Bihar

23.1.2010

212 NIAM, Jaipur

Farmers Nagaur

Rajasthan

23.1.2010

97

S. No. Name of the lead Exchange Category Place Date

213 NIAM, Jaipur

Farmers Etah

Uttar

Pradesh

23.1.2010

214 MCX-GSK

Farmers

Bannamau

Branch

Post office

(Lalganj

GSK, Dist

RaeBareli,

U.P.)

23.1.2010

215 MCX-GSK

Farmers

Merui

Branch

Post office

(Lalganj

GSK, Dist

RaeBareli,

U.P.)

24.1.2010

216 NCDEX Students Anna

University

, Chennai

25.1.2010

217 NIAM, Jaipur

Farmers Bagalkot

Karnataka

25.1.2010

218 NIAM, Jaipur

Farmers Jodhpur

Rajasthan

25.1.2010

219 NIAM, Jaipur

Farmers Guwahati

Assam

27.1.2010

220 MCX-GSK

Farmers

Tirhe

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

27.1.2010

221 MCX-GSK

Farmers

Dongaon

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

28.1.2010

222 MCX-GSK

Farmers

Arali

Branch

Post

Office

(Solapur

GSK, Dist

28.1.2010

98

S. No. Name of the lead Exchange Category Place Date

Solapur,

Maharasht

ra)

223 MCX, Mumbai

General Chennai

29.1.2010

224 NIAM, Jaipur

Farmers Nagaon

Assam

29.1.2010

225 NIAM, Jaipur

Farmers Ambala

Haryana

29.1.2010

226 NIAM, Jaipur

Farmers Yamunanag

ar Haryana

29.1.2010

227 MCX-GSK

Farmers

Tandulwa

di Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

29.1.2010

228 MCX-GSK

Farmers

Mardi

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

29.1.2010

229 MCX-GSK

Farmers

Honsal

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

30.1.2010

230 MCX-GSK

Farmers

Barur

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

30.1.2010

231 MCX, Mumbai

General Vishakapa

tnam

30.1.2010

99

S. No. Name of the lead Exchange Category Place Date

232 MCX, Mumbai

General Srigangan

agar

30.1.2010

233 NIAM, Jaipur

Farmers Rudrapray

ag (UK)

30.1.2010

234 NCDEX Students CA

Chapter,

Mulund,

Mumbai

31.1.2010

235 NIAM, Jaipur

Farmers Trilokpurr

, Nahan,

Himachal

Pradesh

31.1.2010

236 MCX-GSK

Farmers

Takli

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

31.1.2010

237 MCX-GSK

Farmers

Kawtha

Branch

Post

Office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

1.2.2010

238 MCX-GSK

Farmers

Darganhal

li Branch

Post office

(Solapur

GSK, Dist

Solapur,

Maharasht

ra)

1.2.2010

239 NIAM, Jaipur Farmers Gandhina

gar

Gujarat

1.2.2010

240 MCX, Mumbai General Agra 1.2.2010

241 NIAM, Jaipur Farmers Patan

Gujarat

2.2.2010

242 NIAM, Jaipur Farmers Jorhat

Assam

2.2.2010

243 NIAM, Jaipur Farmers Kheda

Gujarat

3.2.2010

244 NIAM, Jaipur Farmers Mahesana

Gujarat

3.2.2010

245 NIAM, Jaipur Farmers Janjgir-

Champa

4.2.2010

100

S. No. Name of the lead Exchange Category Place Date

Chattisgar

h

246 NIAM, Jaipur Farmers Dehradun

Uttarakha

nd

4.2.2010

247 NIAM, Jaipur Farmers Dimapur

Nagaland

4.2.2010

248 NIAM, Jaipur Farmers Bilaspur

Chattisgar

h

5.2.2010

249 NIAM, Jaipur Farmers Anand

Gujarat

5.2.2010

250 MCX, Mumbai Students Rajpura

(Chadigar

h)

5.2.2010

251 NCDEX, Mumbai Students Pune

MITCON

Institute of

Managem

ent

6.2.2010

252 NIAM, Jaipur Farmers Korba

Chattisgar

h

6.2.2010

253 NIAM, Jaipur Farmers Rohtak,

Haryana

6.2.2010

254 NIAM, Jaipur Farmers Goalpara

Assam

6.2.2010

255 NIAM, Jaipur Farmers Ambikapu

r, Sarguja,

Chattisgar

h

7.2.2010

256 NIAM, Jaipur Farmers Dharward

Karnataka

7.2.2010

257 NIAM, Jaipur Farmers Baikunthp

ur

Chattisgar

h

8.2.2010

258 NIAM, Jaipur Farmers Rewari

Haryana

8.2.2010

259 NIAM, Jaipur Farmers Mangaldai

Assam

8.2.2010

260 NIAM, Jaipur Farmers Badodara

Gujarat

8.2.2010

261 NIAM, Jaipur Farmers Panchmah

al

Gujarat

9.2.2010

262 NABARD – MCX Farmers Ratlam

(MP) 9.2.2010

263 NIAM, Jaipur Farmers Burdwan

West

Bengal

10.2.2010

264 NIAM, Jaipur Farmers Sangrur 10.2.2010

101

S. No. Name of the lead Exchange Category Place Date

Punjab

265 NIAM, Jaipur Farmers Silchar,

Cachar

Assam

10.2.2010

266 NIAM, Jaipur Farmers Agra,

Uttar

Pradesh

10.2.2010

267 NIAM, Jaipur Farmers Imphal

Manipur

10.2.2010

268 NABCONS Farmers Haridwar

Uttarkhan

d

10.2.2010

269 NABARD – MCX Farmers Khandwa

(MP)

10.2.2010

270 NIAM, Jaipur Farmers Patiala

Punjab

11.2.2010

271 NABARD – MCX Farmers Dhar(MP) 11.2.2010

272 NIAM, Jaipur Farmers Solapur,

Maharasht

ra

11.2.2010

273 NIAM, Jaipur Farmers Aligarh

Uttar

Pradesh

11.2.2010

274 NIAM, Jaipur Farmers Tuikual,

Aizawal,

Mizoram

12.2.2010

275 NIAM, Jaipur Farmers Osmanaba

d,

Maharasht

ra

12.2.2010

276 NCDEX, Mumbai Traders Cochin 13.2.2010

277 NIAM, Jaipur Farmers Aara

Bihar

13.2.2010

278 NIAM, Jaipur Farmers Latur

Maharasht

ra

14.2.2010

279 NIAM, Jaipur Farmers Kurukshet

ra

Haryana

15.2.2010

280 NIAM, Jaipur Farmers Agartala

Tripura

15.2.2010

281 NIAM, Jaipur Farmers Hazipur

Vaishali

Bihar

15.2.2010

282 NABARD – MCX Farmers Indore

(MP) 15.2.2010

283 UAS – Dharwad Farmers Ranebenn

ur 15.2.2010

284 UAS – Dharwad Farmers Sirsi 16.2.2010

285 NIAM, Jaipur Farmers Tarakeswa

r

West

16.2.2010

102

S. No. Name of the lead Exchange Category Place Date

Bengal

286 NIAM, Jaipur Farmers Ludhiana

Punjab

16.02.2010

287 NABCONS Farmers Haldiwani

Uttarakha

nd

17.02.2010

288 NABARD – MCX Farmers Gwalior

(MP) 17.2.2010

289 NCDEX, Mumbai

Farmers Agra UP 17.2.2010

290 NABCONS Farmers Amritsar

Punjab 18.2.2010

291 NABCONS Farmers US Nagar

Rudrapur

Uttarakha

nd

18.2.2010

292 NIAM, Jaipur Farmers Jalandhar

Punjab 18.2.2010

293 NIAM, Jaipur Farmers Amritsar

Punjab

18.02.2010

294 NIAM, Jaipur Farmers Gangtok

Sikkim

19.2.2010

295 NIAM, Jaipur Farmers Dalhousie,

Chamba

Himachal

Pradesh

19.02.2010

296 NIAM, Jaipur Farmers Imphal

Manipur

19.2.2010

297 NIAM, Jaipur Farmers Koppal

Karnataka

21.02.2010

298 NIAM, Jaipur Farmers Chopra,

Jalgaon

MS

21.02.2010

299 NIAM, Jaipur Farmers Umarkhed

,

Yavatmal

Maharasht

ra

22.02.2010

300 MCX, Mumbai Farmers Agricultur

al

Marketing

Training

College ,

Vidyanaga

r, Hubli

22.2.2010

301 NIAM Jaipur Farmers Gadag

Karnataka

22.02.2010

302 UAS – Dharwad Faculty Bijapur 22.2.2010

303 UAS – Dharwad Faculty

Bagalkot 23.2.2010

304 NIAM Jaipur Farmers Thoubal, 23.2.2010

103

S. No. Name of the lead Exchange Category Place Date

Manipur

305 MCX Mandi Board Gwalior 23.2.2010

305 NIAM, Jaipur Farmers Krishanag

ar

West

Bengal

23.02.2010

307 NABCONS Farmers Jabalpur

M.P.

23.02.2010

308 NABCONS Farmers Alwar

Rajasthan

23.02.2010

309 NABCONS Farmers Faizabad

UP

23.02.2010

310 NIAM, Jaipur Farmers Darvha,

Yavatmal

23.02.2010

311 NIAM, Jaipur Farmers Karanja,

Washim

24.02.2010

312 CIFA-MCX Farmers Jabalpur 24.2.2010

313 NABCONS Farmers Ferozepur

Punjab

24.2.2010

314 NABCONS Farmers Kollam

Kerala

24.2.2010

315 NABCONS Farmers Ernakula

m

Kerala

24.2.2010

316 NABCONS Farmers Gorakhpur

UP

24.2.2010

317 NABARD – NCDEX Farmers Bhandara

(MS)

24.2.2010

318 NIAM, Jaipur Farmers Kullu

Himachal

Pradesh

24.02.2010

319 NABCONS Farmers Varanasi

UP

25.2.2010

320 NABCONS Farmers Jorhat,

Assam

25.2.2010

321 NIAM, Jaipur Farmers Mandi,

Himachal

Pradesh

25.02.2010

322 NIAM, Jaipur Farmers Amarawat

i

25.02.2010

323 NIAM, Jaipur Farmers Motala,

Buldhana

26.02.2010

324 NABARD – NCDEX Farmers Gondia

(MS)

26.2.2010

325 NABCONS Farmers Tinsukhia,

Assam

26.2.2010

326 NABCONS Farmers Allahabad 26.2.2010

327 NABCONS Farmers Gurgaon

Haryana

26.2.2010

328 NABCONS Farmers Lohit

Arunachal

Pradesh

26.2.2010

329 NABCONS Farmers Kodagu 26.2.2010

104

S. No. Name of the lead Exchange Category Place Date

Karnataka

330 NABCONS Farmers Gwalior

M.P.

26.2.2010

331 NABCONS Farmers Bareilly

UP

26.2.2010

332 NABCONS Farmers Thrissur

Kerala

27.2.2010

333 NIAM, Jaipur Farmers Chopada,

Jalgaon,

Maharasht

ra

27.2.2010

334 NIAM, Jaipur Farmers Ukhrul

Manipur

27.2.2010

335 NABCONS Farmers Kozhikod

e

Kerala

1.03.2010

336 NIAM, Jaipur Farmers Raiganj

West

Bengal

2.03.2010

337 NIAM, Jaipur Farmers Jalpaiguri

West

Bengal

3.03.2010

338 NABCONS Farmers Sirsa

Haryana

3.03.2010

339 NABCONS Farmers Dhule

Maharasht

ra

3.03.2010

340 NABCONS Farmers Ludhiyana

Punjab

3.03.2010

341 MCX-GSK Farmers Ajeetpur

Branch

Post office

(Lalganj

GSK, Rae

Bareili,

U.P.)

3.03.2010

342 MCX-GSK Farmers Akauni

Branch

Post office

(Lalganj

GSK, Rae

Bareili,

U.P.)

3.03.2010

343 MCX-GSK Farmers Samarpah

a Branch

Post office

(Lalganj

GSK, Rae

Bareili,

U.P.)

4.03.2010

344 MCX-GSK Farmers Bishunkhe

dha

Branch

Post office

4.03.2010

105

S. No. Name of the lead Exchange Category Place Date

(Lalganj

GSK, Rae

Bareili,

U.P.)

345 NABCONS Farmers Beed

Maharasht

ra

4.03.2010

346 NABCONS Farmers Hisar

Haryana

4.03.2010

347 NABCONS Farmers West-

Tripura

4.03.2010

348 NABCONS Farmers South

Tripura

5.3.2010

349 NABCONS Farmers Mahender

garh

Haryana

5.3.2010

350 NABCONS Farmers Chikmaga

lur

Karnataka

5.3.2010

351 NABCONS Farmers Jalna

Maharasht

ra

5.3.2010

352 NABCONS Farmers Puri

Orissa

5.3.2010

353 NABCONS Farmers Sangrur

Punjab

5.3.2010

354 NABCONS Farmers Bathinda

Punjab

5.3.2010

355 NABCONS Farmers Aurangab

ad

Maharasht

ra

6.3.2010

356 NABCONS Farmers Hassan

Karnataka

6.3.2010

357 NABCONS Farmers Kottayam

Kerala

6.3.2010

358 NABCONS Farmers Lower

Subansiri

Arunachal

Pradesh

6.3.2010

359 MCX-GSK Farmers Kamradhd

a Branch

Post office

(Lalganj

GSK, Rae

Bareili,

U.P.)

6.3.2010

360 MCX-GSK Farmers Mahakher

a Branch

Post office

(Lalganj

GSK, Rae

Bareili,

6.3.2010

106

S. No. Name of the lead Exchange Category Place Date

U.P.)

361 MCX-GSK Farmers APMC

Babhulgao

n

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

8.3.2010

362 NABCONS Farmers Dharwad

Karnataka

8.3.2010

363 NABARD – NCDEX Farmers Amravati 8.3.2010

364 NABCONS Farmers Theni 8.03.2010

365 NABARD – NCDEX Farmers Yeotmal 9.3.2010

366 NABCONS Farmers Rewari

Haryana

9.3.2010

367 NABCONS Farmers Solapur

Maharasht

ra

9.3.2010

368 NABCONS Farmers Cuttack

Orissa

9.3.2010

369 NABCONS Farmers Agra UP 9.3.2010

370 MCX-GSK Farmers Dabha

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

9.3.2010

371 MCX-GSK Farmers Pahur

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

9.3.2010

372 MCX-GSK Farmers Rani

Amravati

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

10.3.2010

373 MCX-GSK Farmers Dighi

Branch

Post

Office

10.3.2010

107

S. No. Name of the lead Exchange Category Place Date

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

374 NABCONS Farmers Ganjam

Orissa

10.3.2010

375 NABCONS Farmers Kannur

Kerala

10.3.2010

376 NABCONS Farmers Housanga

bad

M.P.

10.3.2010

377 NABARD – NCDEX Farmers Washim

(MS)

10.3.2010

378 NABCONS Farmers Srigangan

agar

Rajasthan

10.3.2010

379 NABCONS Farmers Swaimadh

opur

Rajasthan

10.3.2010

380 NABCONS Farmers Krishnagir

i T.N.

10.3.2010

381 NABCONS Farmers Jhansi UP 10.3.2010

382 NABCONS Farmers Unnao UP 10.3.2010

383 NIAM, Jaipur Farmers Tuljapur,

Osmanaba

d

Maharasht

ra

10.3.2010

384 NABCONS Farmers Mehsana

Gujarat

10.3.2010

385 NABCONS Farmers Shimoga

Karnataka

10.3.2010

386 NABCONS Farmers Bolangir

Orissa

10.3.2010

387 NABCONS Farmers Nagaon,

Assam

10.3.2010

388 NABCONS Farmers South

Sikkim

10.3.2010

389 NABCONS Farmers Kolasib

Mizoram

10.3.2010

390 NABCONS Farmers Perambalu

r

10.03.2010

391 NABCONS Farmers Satna MP 11.3.2010

392 NABCONS Farmers West

Sikkim

11.3.2010

393 NABCONS Farmers Ghaziabad

UP

11.3.2010

394 NIAM, Jaipur Farmers Latur

Maharasht

ra

11.3.2010

108

S. No. Name of the lead Exchange Category Place Date

395 NABCONS Farmers N.Lakhim

pur,

Assam

11.3.2010

396 NABCONS Farmers Surat

Gujarat

11.3.2010

397 NABCONS Farmers Vidisha

M.P.

11.3.2010

398 MCX-GSK Farmers Pardi

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

11.3.2010

399 MCX-GSK Farmers Ashthi

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

11.3.2010

400 MCX-GSK Farmers Kotha

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

12.3.2010

401 MCX-GSK Farmers Veni(Kasa

ba)

Branch

Post

Office

(Babhulga

on GSK,

Yavatmal,

Maharasht

ra)

12.3.2010

402 NABCONS Farmers Ratnagiri

Maharasht

ra

12.3.2010

403 NABCONS Farmers Chandrap

ur

Maharasht

ra

12.3.2010

404 NABCONS Farmers Bharuch

Gujarat

12.3.2010

109

S. No. Name of the lead Exchange Category Place Date

405 NABCONS Farmers Kheda

Gujarat

12.3.2010

406 NABCONS Farmers Rajkot

Gujarat

12.3.2010

407 NABCONS Farmers Jhalawar

Rajasthan

12.3.2010

408 NABCONS Farmers Ajmer

Rajasthan

12.3.2010

409 NABCONS Farmers Moradaba

d UP

12.3.2010

410 NABCONS Farmers Sagar MP 12.3.2010

411 NABCONS Farmers Kota

Rajasthan

13.3.2010

412 NCDEX Press Kolkata 13.3.2010

413 NIAM, Jaipur Farmers Sinnar,

Nasik

Maharasht

ra

13.3.2010

414 NABCONS Farmers Sonitpur

Assam

14.3.2010

415 NIAM, Jaipur Farmers Nasik

Maharasht

ra

14.3.2010

416 MCX-GSK Farmers Kudha

Branch

Post office

(Jais GSK,

RaeBareli)

14.3.2010

417 MCX-GSK Farmers Sandha

Branch

Post office

(Jais GSK,

RaeBareli)

14.3.2010

418 MCX-GSK Farmers Kasimpur

Branch

Post office

(Jais GSK,

RaeBareli)

15.3.2010

419 MCX-GSK Farmers Paraiyana

maksar

Branch

Post office

(Jais GSK,

RaeBareli)

15.3. 2010

420 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Barpeta,

AAU,

Howly,

Assam

15.3.2010

421 MCX-GSK Farmers Mau

Branch

16 .3. 2010

110

S. No. Name of the lead Exchange Category Place Date

Post office

(Nasiraba

d GSK,

Rae

Bareli)

422 MCX-GSK Farmers Vinnao

Branch

Post office

(Nasiraba

d GSK,

Rae

Bareli)

16 .3. 2010

423 NABCONS Farmers Chhindwa

na

16.03.2010

424 NABCONS Farmers Sambalpur 16.03.2010

425 NABCONS Farmers Sundergar

h

16.03.2010

426 MCX-GSK Farmers Chatoh

Branch

Post office

(Nasiraba

d GSK,

Rae

Bareli)

17.3.2010

427 MCX-GSK Farmers Kunvarma

u Branch

Post office

(Nasiraba

d GSK,

Rae

Bareli)

17.3.2010

428 NABCONS Farmers Serchhip

Mizoram

17.3.2010

429 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Jorhat,

Kaliapani,

Teok-

18.3.2010

430 NIAM, Jaipur Farmers Thane

Maharasht

ra

18.3.2010

431 NABCONS Farmers Kurnool 18.03.2010

432 NABCONS Farmers Coimbator

e

18.03.2010

433 NABCONS Farmers Birbhum

WB

18.03.2010

434 MITCON – PUNE Farmers Krishi

Vidhyan

Kendra,

Senapati,

Hengbung

, B.P.O.

Hengbung

18.3.2010

111

S. No. Name of the lead Exchange Category Place Date

P.O.

Kangpokp

i, Senapati

District,

Manipur

435 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Lunglei,

Govt. of

Mizoram,

Hnathial,

Dist:

Lunglei

(Mizoram)

Pin:

796571

18.3.2010

436 MCX-GSK Farmers Kawalewa

da Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

18.3.2010

437 MCX-GSK Farmers Batana

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

19.3. 2010

438 MCX-GSK Farmers Nawegao

kala

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

19.3. 2010

439 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Karimganj

,

AAU,

Karimganj

19.3.2010

440 MITCON – PUNE Farmers Krishi

Vidhyan

Kendra,

Senapati,

Hengbung

, B.P.O.

Hengbung

P.O.

19.3.2010

112

S. No. Name of the lead Exchange Category Place Date

Kangpokp

i, Senapati

District,

Manipur

441 NABCONS Farmers Erode 19.03.2010

442 NABCONS Farmers Nagapatti

nam

19.03.2010

443 NABCONS Farmers Hooghly 19.03.2010

444 NABCONS Farmers Nizamaba

d

19.03.2010

445 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Lunglei,

Govt. of

Mizoram,

Hnathial,

Dist:

Lunglei

(Mizoram)

20.3.2010

446 NABCONS Farmers Mandsaur

MP

20.03.2010

447 NABCONS Farmers Cachar,

Assam

20.03.2010

448 MCX-GSK Farmers Girola

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

20.3. 2010

449 MCX-GSK Farmers Kamtha

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

20.3. 2010

450 MCX-GSK Farmers Rawanwa

di Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

20.3. 2010

451 MCX-GSK Farmers Gondia

Khurd

Branch

Post

Office

(Gondia

GSK,Mah

21.3. 2010

113

S. No. Name of the lead Exchange Category Place Date

arashtra)

452 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Nagaon,

AAU,

Shillongan

i, Nagaon-

21.3.2010

453 MITCON – PUNE Farmers Krishi

Vidhyan

Kendra,

Bishnupur

,

Utlou,

P.O.

Nambol,

Bishnupur

District,

Manipur.

Pin-

795134.

21.3.2010

454 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Kohima ,

Director

of

Agricultur

e,

Govt. of

Nagaland,

Kohima.

21.3.2010

455 MCX-GSK Farmers Satona

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

22.3. 2010

456 MCX-GSK Farmers Banathar

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

22.3. 2010

457 MCX-GSK Farmers Savaiya

Hasan

Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

22.3. 2010

114

S. No. Name of the lead Exchange Category Place Date

U.P.

458 MCX-GSK Farmers Khamari

Branch

Post

Office

(Gondia

GSK,Mah

arashtra)

23.3.2010

459 MCX-GSK Farmers Arkha

Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

U.P.

23.3. 2010

460 MCX-GSK Farmers Kotra

Bahadurga

nj Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

U.P.

23.3. 2010

461 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Mokokchu

ng, SARS,

P.B.

No. 23,

Dist.

Mokokchu

ng

(Nagaland

)

24.3.2010

462 MITCON – PUNE Farmers KVK,

Tripura

South,

Birchandr

a Manu

(ICAR)

P.O. -

Manpather

, South

Tripura

Santirbaza

r.

24.3.2010

463 MCX, Mumbai Farmers Hyderaba

d

24.3.2010

464 NABCONS Farmers Malda

WB

25.03.2010

115

S. No. Name of the lead Exchange Category Place Date

465 NABCONS Farmers Deoghar

Jharkhand

25.03.2010

466 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

East

Sikkim,

ICAR,Res

earch

Complex

for

NEH

Region,

Sikkim

Centre,

Ranipool,

East

Sikkim -

737135.

25.3.2010

467 UAS- Dharward Farmers Bijapur

Karnataka

25.3.2010

468 MCX-GSK Farmers Akorhiya

Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

U.P.

25.3. 2010

469 MCX-GSK Farmers Pattirahat

Kaithawa

Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

U.P.

25.3. 2010

470 MCX-GSK Farmers Prahaladp

ur Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

U.P.

26.3. 2010

471 MCX-GSK Farmers Gangauli

Branch

Post office

(Mustafab

ad GSK,

Rae

Bareli)

U.P.

26.3.2010

116

S. No. Name of the lead Exchange Category Place Date

472 MCX-GSK Farmers Salawa

Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

26.3. 2010

473 MCX-GSK Farmers Kheda

Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

26.3. 2010

474 NABCONS Farmers Murshidab

ad WB

26.03.2010

475 NABCONS Farmers Guntur 26.03.2010

476 NABCONS Farmers Dharbad

Jharkhand

26.03.2010

477 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Kamrup,

AAU,Kahi

kuchi,

P.O. -

Azara,

Guwahati-

District –

Kamrup

(Assam)

26.3.2010

478 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Chirang,

P.O.:

Kajalgaon,

Dist.:

Chirang,

26.3.2010

479 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Dimapur,

ICAR

Research

Complex

for NEH

Region,

Jharnapani

, P.O.

Medziphe

ma,

Dist-

Dimapur

26.3.2010

117

S. No. Name of the lead Exchange Category Place Date

(Nagaland

),

480 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,N

orth

Sikkim,

Mangan,

North

Sikkim-

737116

27.3.2010

481 NCDEX Press Lucknow 27.3.2010

482 NABCONS Farmers Hazaribag

Jharkhand

27.3.2010

483 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Darrang,

Leneripara

,

Khajanaga

r, Ward

no.2 ,

Mangaldoi

27.3.2010

484 MITCON – PUNE Farmers KVK,

East Siang

P.O. –

Pasighat,

District -

East Siang

(Arunacha

l

Pradesh)

27.3.2010

485 MITCON – PUNE Farmers KVK,

RiBhoi,

ICAR

Research

Complex

for NEH

Region,

Umroi

Road,

Umiam

27.3.2010

486 MITCON – PUNE Farmers Divyoday

a Krishi

Vigyan

Kendra,

P.O.-

Chebri,

Khowai,

West

Tripura.

27.3.2010

118

S. No. Name of the lead Exchange Category Place Date

487 MCX-GSK Farmers Jetakri

Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

27.3.2010

488 MCX-GSK Farmers Kalandi

Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

27.3.2010

489 MCX-GSK Farmers Moon

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

27.3. 2010

490 MCX-GSK Farmers Kubna

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

27.3. 2010

491 NCDEX Members Coimbator

e

27.3.2010

492 MCX-GSK Farmers Sothi

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

28.3. 2010

493 MCX-GSK Farmers Gauri

Pokhanni

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

28.3. 2010

494 MCX-GSK Farmers Khusahwa

li Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

28.3. 2010

495 MCX-GSK Farmers Mahadev

Branch

28.3. 2010

119

S. No. Name of the lead Exchange Category Place Date

Post office

(Sardhana

GSK,

Meerut,

U.P.)

496 MITCON – PUNE Farmers KVK,

West Garo

Hills,

ICAR

Research

Complex

for NEH

Region,

Tura,

Sangsangi

ri

P.O.

Dobasipar

a, Dist.

West

Garo Hills

28.3.2010

497 MITCON – PUNE Farmers KVK,Bale

k, C/o,

District

Agricultur

e Office,

Roing,

Dist.

Lower

Dibang

Valley,

28.3.2010

498 MITCON – PUNE Farmers Krishi

Vidhyan

Kendra,

Bishnupur

,

Utlou,

P.O.

Nambol,

Bishnupur

District,

Manipur.

28.3.2010

499 NABCONS Farmers Warangal

29.03.2010

500 MITCON – PUNE Farmers Krishi

Vigyan

Kendra ,

Nalbari,

AAU,

Sariahtoli

Dist.

29.3.2010

120

S. No. Name of the lead Exchange Category Place Date

Nalbari,

501 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Dhubri,

AAU,

Bilasipara

P.O.

Bilasipara,

Assam

29.3.2010

502 MCX-GSK Farmers Bhanori

Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

29.3. 2010

503 MCX-GSK Farmers Bapursi

Branch

Post office

(Sardhana

GSK,

Meerut,

U.P.)

29.3. 2010

504 MCX-GSK Farmers Maugarvi

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

29.3. 2010

505 MCX-GSK Farmers Muraini

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

29.3. 2010

506 MCX, Mumbai Farmers Warrangal 29.3.2010

507 MCX-GSK Farmers Chandapu

r Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

30.3. 2010

508

MCX-GSK Farmers Adhasana

Branch

Post office

(Maharjga

nj GSK,

Rae

30.3. 2010

121

S. No. Name of the lead Exchange Category Place Date

Bareli)

509 NABCONS Farmers Visakhapa

tnam

30.03.2010

510 NABCONS Farmers Nadia WB 30.03.2010

511 MITCON – PUNE Farmers Krishi

Vigyan

Kendra,

Khumtai,

Golaghat,

Assam

30.3.2010

512 MITCON – PUNE Farmers Krishi

Vidhyan

Kendra,

Thoubal,

Wangbal

Rice

Research

Station,

Director

of

Agricultur

e,

Govt. of

Manipur,

Imphal,

30.3.2010

513 MITCON – PUNE Farmers KVK, Po-

Deomali,

Distt.

Tirap

Arunachal

Pradesh

30.3.2010

514 MITCON – PUNE Farmers KVK,

South

Sikkim,

P.O.

Namthang

South

Sikkim

District,

31.3.2010

515 MCX-GSK Farmers Dusauti

Branch

Post office

(Maharjga

nj GSK,

Rae

Bareli)

31.3. 2010

122

Annexure VII-B

Statewise Summery of Awareness Programmes conducted for Farmers / Non-farmers.

S. No. Names of States Farmers Non-farmers Total

1 Maharashtra 113 14 127

2 Andhra Pradesh 8 11 19

3 West Bengal 10 1 11

4 Uttaranchal 9 -- 9

5 Punjab 10 4 14

6 Gujarat 14 5 19

7 Kerala 14 6 20

8 Tamil Nadu 7 9 16

9 Karnataka 16 6 22

10 Rajasthan 11 11 22

11 Bihar 7 -- 7

12 Madhya Pradesh 21 5 26

13 Uttar Pradesh 86 8 94

14 Jharkhand 7 1 8

15 Haryana 10 1 11

16 New Delhi -- 3 3

17 Orissa 11 2 13

18 Assam 22 3 25

19 Himachal Pradesh 5 -- 5

20 Nagaland 4 -- 4

21 Mizoram 5 -- 5

22 Meghalaya 2 -- 2

23 Sikkim 6 -- 6

24 Manipur 9 -- 9

123

S. No. Names of States Farmers Non-farmers Total

25 Chatttisgarh 6 1 7

26 Jammu -- 1 1

27 Tripura 5 -- 5

28 Arunachal Pradesh 5 -- 5

TOTAL 423 92 515

124

Annexure VIII

Details of training programmes conducted during 2009-10.

S. No. Name of

the

Institute

Dates and

Venue of the

programme

Name of the programme Category of

participants

1 VAMNICO

M, Pune

3-5th Aug. 2009

Pune

Programme on commodity

futures market for

cooperatives

Cooperative

personnel

2 VAMNICO

M, Pune

3-5th Aug. 2009

Pune

Programme on sugar

futures trading

Cooperative

personnel

3 N.G. Ranga

Univ.

Hyderabad

18th -19

th Aug.

2009

Hyderabad

TOT programme on

Commodity Futures Market

for Agricultural

Universities

Professor Heads

of KVKs,

Researchers and

PG students of

MABM,.

4 N.G. Ranga

Univ.

Hyderabad

20th August, 2010

Hyderabad

Awareness programme Progressive

farmers

5 TOPIC,

Gurgaon

20-21st Aug. 09

Gurgaon

Futures trading of

agricultural commodities

Cooperatives

6 VAMNICO

M, Pune

14-16th Sept.

2009

Panaji, Goa

Programme on creating

excellence through strategy

and culture

Cooperative

personnel

7 IICM, Navi

Mumbai

18-19th Sept.

2009

Navi Mumbai.

Seminar on commodity

futures market

For officers of

Central & State

Govt. officers

8 Swami

Keshwa

anand

Rajasthan

Agricultural

Bikaner

23-24th Sept.

2009

Bikaner

TOT programme on

Commodity futures market

Faculties,

scientists, PG

students& KVK’s

9 TOPIC,

Gurgaon

24-25th Sept. 09

Gurgaon

Futures trading of

agricultural commodities

Cooperatives

10 IICM, Navi

Mumbai

23-24th Oct. 2009

Navi Mumbai

Seminar on commodity

futures market

For officers of

Central & State

Govt. officers

11 MANAGE,

Hyderabad

26-29th Oct. 09

Hyderabad

Commodity Futures Market

in major agricultural

commodities

For faculty of

MANAGE,

Hyderabad

12 CAB, Pune 3-4th Nov. 09

Pune

Commodity Futures Market

and the Role of Banks

For bankers from

RBI,

Nationalised

banks, SBI, Axis

bank, Kotak

Securities

13 IICM, Navi

Mumbai

20-21st Nov.2009

Navi Mumbai

Seminar on commodity

futures market

For officers of

Central & State

Govt. officers

14 TOPIC,

Gurgaon

26-27th Nov. 09

Gurgaon

Futures trading of

agricultural commodities

Cooperatives

125

S. No. Name of

the

Institute

Dates and

Venue of the

programme

Name of the programme Category of

participants

15 IIM(B) 2-3rd

Dec. 09

Bangalore

Seminar on Commodity

Futures Market

For senior

officers of

Central & State

Govt. of the rank

of Additional

Secretary and

Secretary

16 Govt. of

Bengal for

senior Govt.

officials

17th Dec. 2009

Kolkata

Impact of electronic

Exchanges on reforms in

Agricultural Marketing

Senior Govt.

officials of Govt.

of West Bengal

17 ACMART,

Kolkata-

21-22nd

Dec.

2009

Kolkata

Commodity Futures trading

of Agricultural

Commodities

CEOs and MDs

of Cooperative

Bank Personnel

18 Pondicherry

University

8-9th January,

2010 FDP prog.

Pondicherry

On commodity derivatives

for bankers/policy

makers/traders/faculty/ware

housing companies and

farmers

For commerce,

economics and

management

faculties

19 Mahatama,

Phule

Krishi

Vidypeeth,

Ahmedanag

ar

20-21st January,

2010

Rahuri,

Ahmednagar

Commodity futures market

for faculty of Agricultural

Universities

Training

programme for

faculty members

and students &

KBK’s

20 Mahatama,

Phule

Krishi

Vidypeeth,

Ahmedanag

ar

22nd

January,

2010

Rahuri,

Ahmednagar

Programme for extension

personnel

Extension

Personnel such as

Regional

Extension

Centers, District

Extension

Centers and

Krishi Vigyan

Extension under

the jurisdiction of

MPKV, Rahuri

21 NABCON,

Lucknow

28-29th January,

2010

Lucknow

TOT programme on

Commodity Futures Market

For NABARD

officers

22 Indira

Gandhi

Institute of

Cooperative

Managemen

t, Lucknow

2-3rd

February,

2010

Lucknow

Commodity futures market

for banker of Cooperative

Sector

25 District

Central

Cooperative

Banks (DCCBs)

of U.P. State

besides the

officers from the

Cooperative

Department of

the State

23 TOPIC, 2-3rd

February, Futures trading of Cooperatives

126

S. No. Name of

the

Institute

Dates and

Venue of the

programme

Name of the programme Category of

participants

Gurgaon 2010

Gurgaon

agricultural commodities

24 Rajasthan,

Regional

Office of

NABARD

8th February

2010

Jaipur

TOT on Commodity

Futures Market

For officers of

NABARD, Jaipur

25 Assam

Agricultural

Univ. Jorhat

8-9th Feb.2010

Jorhat

Commodity Futures Market

for faculty of Agricultural

Universities

Department of

Agricultural

Economics, PG

and MBA-

Agribusiness

students of

Department of

Agriculture,

MSC Agri-

Economics

students, KVK’s

and Extension

personnel

officials.

26 Kerala,

Regional

Office of

NABARD

10th Feb. 2010

Trivendrum

TOT on Commodity

Futures Market

For officers of

NABARD,

Trivendrum

27 Institute of

Cooperative

Managemen

t, Jaipur

10-11th Feb.2010

Jaipur

Commodity futures market

for bankers of Cooperative

Sector

for officers&

Managers

of PACs.

28 Karnataka,

Regional

Office of

NABARD

11th Feb. 2010

Bangalore

TOT on Commodity

Futures Market

For officers of

NABARD,

Banglore

29 Haryana,

Regional

Office of

NABARD

15th Feb. 2010

Chandigarh

TOT on Commodity

Futures Market

For officers of

NABARD,

Chandigarh

30 Punjab,

Regional

Office of

NABARD

15th Feb. 2010

Chandigarh

TOT on Commodity

Futures Market

For officers of

NABARD,

Chandigarh

31 Indira

Gandhi

Institute of

Cooperative

Managemen

t, Lucknow

16-17th February,

2010

Lucknow

Commodity futures market

for bankers of Cooperative

Sector

All 50 District

Central

Cooperative

Banks (DCCBs)

of U.P. State

besides the

officers from the

Cooperative

Department of

the State

32 VAMNICO

M, Pune

16-19th Feb. 2010

Port Blair

Strategy for competing in

the future for cooperative

Cooperatives

personnel

127

S. No. Name of

the

Institute

Dates and

Venue of the

programme

Name of the programme Category of

participants

Andaman

Nikobar

33 Tamil Nadu

Agricultural

University,

Coimbatore

17-18th February,

2010

Tiruchirapalli

Faculty Development

programmes at

Tiruchirapalli

for faculty from

Agricultural

Economics,

Management,

KVKs, Scientist

and Few NGO’s

34 M.P.

Regional

Office of

NABARD

18th Feb. 2010

Bhopal

TOT on Commodity futures

market

For officers of

NABARD,

Bhopal

35 Tamil Nadu

Agricultural

University,

Coimbatore

19th February,

2010

Tiruchirapalli

Awareness programme at

Tiruchirapalli

for farmers, few

Govt. officials

36 Institute of

Cooperative

Managemen

t, Jaipur

18-19th Feb.2010

Jaipur

Commodity futures market

for bankers of Cooperative

sector

For the BOD’s

/Managing

Directors of

Cooperatives

banks & PACs.

37 Maharashtr

a, Regional

Office of

NABARD

22nd

Feb. 2010

Pune

TOT on Commodity futures

market

For officers of

NABARD, Pune

38 Assam

Agricultural

University,

Jorhat

23-25th February,

2010

Jorhat

TOT on Commodity futures

market

Farmers

39 Tamil

Nadu,

Regional

Office of

NABARD

24th February

2010

Chennai

TOT on Commodity futures

market

For officers of

NABARD,

Chennai

40 Kerala

Agricultural

University,

24th Feb. 2010

Vellanikara

Commodity futures trading

for faculty and students of

Agricultural Universities

For MBA

students of

Agribusiness

Management,

final year B.Sc.

(Agri) students &

Agricultural

officers of the

State Department

and selected

farmers.

41 Tripura,

Regional

Office of

NABARD

25th Feb. 2010

Agartala

TOT on Commodity futures

market

For officers of

NABARD,

Agartala

42 NIBM,

Pune

25th Feb. 2010 to

27th Feb. 10

Pune

Market structure, financing

and risk management

For senior

officers of bank.

128

S. No. Name of

the

Institute

Dates and

Venue of the

programme

Name of the programme Category of

participants

43 Orissa,

Regional

Office of

NABARD

2nd

March 2010

Bhuvaneshwar

TOT on Commodity futures

market

For officers of

NABARD,

Bhubaneswar

44 Pondichery

University

3rd

March 2010

Pondicherry

Awareness programme in

Tamil Nadu on Commodity

Futures Market

Farmers

45 RTC,

(NABARD)

Bolpur

4-5th March, 2010

Puri

Commodity futures market

for bankers of Cooperative

sector

For

Chairpersons/Ma

naging Directors

of cooperative

banks

46 Institute of

Cooperative

Managemen

t, Jaipur

4-5th March, 2010

Jaipur

Commodity futures market

for bankers of Cooperative

sector

For officers of

cooperative

banks

47 Gujarat,

Regional

Office of

NABARD

5th March 2010

Ahmedabad

TOT on Commodity futures

market

For officers of

NABARD,

Ahmedabad

48 West

Bengal,

Regional

Office of

NABARD

5th March 2010

Kolkata

TOT on Commodity futures

market

For officers of

NABARD,

Kolkata

49 Assam,

Regional

Office of

NABARD

5th March 2010

Guwahati

TOT on Commodity futures

market

For officers of

NABARD,

Guwahati

50 Sikkim,

Regional

Office of

NABARD

9th March 2010

Gangtok

TOT on Commodity

Futures Market

For officers of

NABARD,

Gangtok

51 Mizoram,

Regional

Office of

NABARD

9th March 2010

Aizwal

TOT on Commodity futures

market

For officers of

NABARD,

Aizwal

52 A.P.,

Regional

Office of

NABARD

11th March 2010

Hyderabad

TOT on Commodity futures

market

For officers of

NABARD,

Hyderabad

53 Uttar

Pradesh,

Regional

Office of

NABARD

11th March 2010.

Lucknow

TOT on Commodity futures

market

For officers of

NABARD,

Lucknow

54 Arunachal

Pradesh,

Regional

Office of

NABARD

11th March 2010

Itanagar

TOT on Commodity futures

market

For officers of

NABARD,

Itanagar

129

S. No. Name of

the

Institute

Dates and

Venue of the

programme

Name of the programme Category of

participants

55 IIM(B) 12-13th March,

2010

Bangalore

Commodity futures market

for faculty of Agricultural

Universities.

For faculty of

Agricultural

Universities.

56 Uttrakhand,

Regional

Office of

NABARD

15th March 2010

Dehradun

TOT on Commodity futures

market

For officers of

NABARD,

Dehradun

57 Tamil Nadu

Agricultural

University,

Coimbatore

17-18th March,

2010

Killikulam,

Thirunelveli

Faculty Development

programmes at Killikulam,

Thirunelveli

for faculty from

Agricultural

Economics,

Management,

KVKs, Scientist

and Few NGO’s

58 Tamil Nadu

Agricultural

University,

Coimbatore

19th March, 2010

Killikulam,

Thirunelveli

Awareness programme at

Killikulam, Thirunelveli

For farmers, few

Govt.

officials

59 Jharkhand,

Regional

Office of

NABARD

19th March 2010

Ranchi

TOT on Commodity futures

market

For officers of

NABARD,

Ranchi

60 ICAR

Research

Complex,

Meghalaya

19-21st March,

2010

Meghalaya

TOT on Commodity futures

market

Farmers

61 Institute of

Cooperative

Managemen

t, Jaipur

22-23rd

March,

2010

Jaipur

Commodity futures market

for bankers of Cooperative

sector

For Members of

Primary

Agricultural

Cooperative

Societies/Farmers

Clubs

62 MANAGE,

Hyderabad

29-31st March,

2010

Hyderabad

Commodity futures market

for faculty of Agricultural

Universities.

For faculty of

Rajasthan

College of

Agriculture and

Maharana Pratap

University

(MPUAT) of

Agricultural &

Technology.

63 Assam

Agricultural

University,

Jorhat

29-31st March,

2010

Jorhat

TOT on Commodity futures

market

Farmers

130

SPOT & FUTURES PRICES OF GOLD AT MCX

Rs. PER 10 GRAMS

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

4-Apr-09 5-Jun-09 5-Aug-09 5-Oct-09 5-Dec-09 5-Feb-10 5-Apr-10 5-Jun-10 5-Aug-10 5-Oct-10

31-Mar-09 15066.00 15132.00 15064.00 15043.00 15005.00

15-Apr-09 14357.00 14282.00 14287.00 14381.00 14500.00

29-Apr-09 14520.00 14503.00 14514.00 14534.00 14500.00

15-May-09 14821.00 14829.00 14829.00 14815.00 14866.00

30-May-09 14908.00 14923.00 14884.00 14892.00 14909.00

15-Jun-09 14450.00 14403.00 14407.00 14477.00 14500.00

30-Jun-09 14558.00 14451.00 14462.00 14505.00 14767.00

15-Jul-09 14668.00 14770.00 14775.00 14734.00 14700.00

31-Jul-09 14680.00 14802.00 14817.00 14818.00 14783.00

14-Aug-09 14959.00 14895.00 14905.00 14972.00 14969.00

31-Aug-09 15160.00 15125.00 15136.00 15117.00 15120.00

15-Sep-09 15765.00 15877.00 15882.00 15814.00 15881.00

30-Sep-09 15620.00 15703.00 15668.00 15666.00 15636.00

15-Oct-09 15817.00 15729.00 15743.00 15827.00 15797.00

31-Oct-09 15965.00 15957.00 15985.00 16061.00 16110.00

14-Nov-09 16823.00 16800.00 16848.00 16861.00 16830.00

30-Nov-09 17650.00 17614.00 17718.00 17757.00 17690.00

15-Dec-09 16930.00 17041.00 17065.00 17088.00 17189.00

31-Dec-09 16705.00 16686.00 16748.00 16797.00 16783.00

15-Jan-10 16785.00 16838.00 16899.00 16958.00 17006.00

30-Jan-10 16230.00 16200.00 16317.00 16376.00 16432.00

15-Feb-10 16535.00 16605.00 16677.00 16712.00 16720.00

27-Feb-10 16789.00 16789.00 16866.00 16935.00 16968.00

15-Mar-10 16490.00 16538.00 16628.00 16690.00 16739.00

31-Mar-10 16300.00 16295.00 16436.00 16527.00 16592.00

131

SPOT & FUTURES PRICES OF CRUDE OIL AT MCX

Rs. PER Barrel

Date SPOT

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10

31-Mar-09 2473.00 2481.00 2579.00 2651.00 2726.00 2798.00

15-Apr-09 2464.00 2460.00 2588.00 2707.00 2797.00 2898.00

29-Apr-09 2518.00 2555.00 2621.00 2682.00 2740.00

15-May-09 2921.00 2812.00 2853.00 2898.00 2949.00

30-May-09 3136.00 3124.00 3171.00 3205.00 3235.00 3299.00 3076.00

15-Jun-09 3415.00 3358.00 3400.00 3442.00 3462.00 3512.00 3584.00

30-Jun-09 3446.00 3344.00 3396.00 3446.00 3508.00 3599.00 3591.00

15-Jul-09 2907.00 3007.00 3059.00 3122.00 3148.00 3201.00 3309.00

31-Jul-09 3246.00 3271.00 3364.00 3434.00 3451.00 3557.00 3500.00

14-Aug-09 3395.00 3264.00 3382.00 3456.00 3522.00 3551.00 3672.00

31-Aug-09 3555.00 3431.00 3472.00 3515.00 3579.00 3639.00 3625.00

15-Sep-09 3353.00 3433.00 3459.00 3492.00 3481.00 3500.00 3561.00

30-Sep-09 3205.00 3337.00 3361.00 3392.00 3389.00 3399.00 3351.00

15-Oct-09 3470.00 3554.00 3578.00 3597.00 3571.00 3605.00 3665.00

31-Oct-09 3616.00 3638.00 3672.00 3699.00 3831.00 3850.00 3830.00

14-Nov-09 3550.00 3550.00 3592.00 3628.00 3661.00 3685.00 3744.00

30-Nov-09 3560.00 3550.00 3613.00 3664.00 3701.00 3705.00 3750.00

15-Dec-09 3243.00 3297.00 3408.00 3477.00 3532.00 3690.00 3628.00

31-Dec-09 3705.00 3727.00 3759.00 3787.00 3809.00 3849.00 3887.00

15-Jan-10 3611.00 3592.00 3621.00 3667.00 3708.00 3735.00 3773.00

30-Jan-10 3380.00 3378.00 3408.00 3439.00 3467.00 3590.00 3585.00

15-Feb-10 3444.00 3432.00 3461.00 3494.00 3537.00 3533.00 3580.00

27-Feb-10 3683.00 3669.00 3690.00 3721.00 3737.00 3785.00 3780.00

15-Mar-10 3692.00 3645.00 3664.00 3684.00 3729.00 3811.00 3773.00

31-Mar-10 3702.00 3751.00 3769.00 3787.00 3814.00 3822.00 3829

132

SPOT & FUTURES PRICES OF SILVER AT MCX

Rs. PER KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

5-May-09 4-Jul-09 5-Sep-09 5-Dec-09 5-Mar-10 5-May-10 5-Jul-10 4-Sep-10 4-Dec-10

31-Mar-09 21890.00 21855.00 22061.00 21938.00 22508.00

15-Apr-09 21253.00 21093.00 21315.00 21518.00 21728.00

29-Apr-09 20884.00 21319.00 21132.00 21256.00 21719.00

15-May-09 22365.00 22714.00 22767.00 22985.00

30-May-09 23509.00 24195.00 24197.00 24283.00

15-Jun-09 22636.00 22524.00 22645.00 23126.00 23400.00

30-Jun-09 22357.00 21768.00 21924.00 22066.00 22583.00

15-Jul-09 21700.00 21858.00 21979.00 21785.00 22275.00

31-Jul-09 22155.00 22468.00 22609.00 22750.00 22760.00

14-Aug-09 23646.00 23714.00 23828.00 24290.00 24186.00

31-Aug-09 23575.00 23822.00 24245.00 24404.00 24479.00

15-Sep-09 25945.00 27273.00 27458.00 27039.00 27200.00

30-Sep-09 26040.00 26486.00 26677.00 26733.00 26630.00

15-Oct-09 26955.00 26743.00 26917.00 27514.00 27670.00

31-Oct-09 25999.00 25933.00 26152.00 26301.00 26322.00

14-Nov-09 27010.00 26988.00 27201.00 27265.00 27283.00

30-Nov-09 28250.00 28300.00 28439.00 28554.00 28439.00

15-Dec-09 27070.00 27318.00 27479.00 27527.00 27722.00

31-Dec-09 26870.00 26771.00 26936.00 27150.00 27300.00

15-Jan-10 28005.00 28249.00 28440.00 28612.00 28822.00

30-Jan-10 25500.00 25500.00 25744.00 25924.00 26067.00

15-Feb-10 24480.00 24529.00 24748.00 24935.00 24976.00

27-Feb-10 25839.00 25767.00 26114.00 26326.00 26610.00

15-Mar-10 26635.00 26751.00 26948.00 27029.00 27238.00

31-Mar-10 26875.00 26935.00 27141.00 27346.00 27506.00

133

SPOT & FUTURES PRICES OF COPPER AT MCX

Rs. PER KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

30-Apr-09 30-Jun-09 31-Aug-09 30-Nov-09 26-Feb-10 30-Apr-10 30-Jun-10 31-Aug-10

31-Mar-09 198.85 207.10 209.75 210.40

15-Apr-09 232.50 240.90 243.30 245.35

29-Apr-09 213.05 222.55 221.85 223.85

15-May-09 222.70 221.70 223.65 224.90

30-May-09 229.10 229.20 231.10 232.85

15-Jun-09 248.10 241.80 244.00 246.20

30-Jun-09 245.75 238.30 242.40 244.50

15-Jul-09 247.55 255.65 258.10

31-Jul-09 274.10 276.30 278.10

14-Aug-09 309.25 301.70 303.65 305.35

31-Aug-09 314.90 302.60 307.15 309.00

15-Sep-09 301.10 306.25 308.15

30-Sep-09 289.05 297.10 298.90

15-Oct-09 289.45 290.85 292.75

31-Oct-09 306.00 307.95 310.20

14-Nov-09 304.70 303.95 307.40 309.10

30-Nov-09 319.25 322.65 325.40 327.20

15-Dec-09 324.25 323.45 325.55

31-Dec-09 344.60 344.00 346.10

15-Jan-10 339.65 340.25 342.45 344.25

30-Jan-10 312.05 311.45 314.00 316.95

15-Feb-10 315.75 317.70 320.05 321.35

27-Feb-10 333.10 334.50 336.30

15-Mar-10 338.70 334.35 336.00 337.20

31-Mar-10 353.05 351.35 352.45 354.00

134

SPOT & FUTURES PRICES OF N GAS AT MCX

Rs. PER mmBtu

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10

31-Mar-09 191.00 190.90 199.80 207.70

15-Apr-09 183.90 183.50 191.50 199.20

29-Apr-09 173.50 173.90 181.90 191.60

15-May-09 213.90 205.20 212.20 220.20

30-May-09 181.40 184.80 192.00 198.00

15-Jun-09 182.90 197.30 207.80 217.20

30-Jun-09 190.10 186.00 194.90 207.50

15-Jul-09 167.50 159.90 168.90 182.20

31-Jul-09 181.50 174.60 188.10 221.70

14-Aug-09 160.60 160.10 180.20 220.20

31-Aug-09 148.20 147.50 197.90 238.00

15-Sep-09 160.60 167.30 213.50 243.60

30-Sep-09 234.20 231.00 270.40 284.60

15-Oct-09 204.80 207.70 250.40 265.20

31-Oct-09 236.90 238.00 254.50 258.00

14-Nov-09 204.20 203.40 223.00 229.00

30-Nov-09 243.00 226.10 231.40 234.20

15-Dec-09 248.80 255.30 257.80 259.40

31-Dec-09 266.80 259.50 258.70 258.80

15-Jan-10 254.10 261.90 261.80 260.10

30-Jan-10 237.90 239.60 239.90 242.20

15-Feb-10 254.00 254.20 253.70 255.80

27-Feb-10 222.50 220.90 224.10 228.60

15-Mar-10 200.00 202.50 206.10 209.60

31-Mar-10 178.50 177.60 182.00 186.40

135

SPOT & FUTURES PRICES OF NICKEL AT MCX

Rs. PER KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

31-Mar-09 30-Apr-09 29-May-09 30-Jun-09 31-Jul-09 28-Aug-09 30-Sep-09 30-Oct-09 30-Nov-09 31-Dec-09 29-Jan-10 26-Feb-10 31-Mar-10 30-Apr-10 28-May-10

31-Mar-09 479.10 479.10 501.10 508.70

15-Apr-09 617.30 612.20 620.50 624.40

29-Apr-09 556.80 565.60 566.90 572.10

15-May-09 608.40 610.10 614.00 624.60

30-May-09 650.90 657.50 662.00

15-Jun-09 720.90 705.00 710.90 726.90

30-Jun-09 766.20 766.20 741.00 743.90

15-Jul-09 773.60 772.50 776.40 781.30

31-Jul-09 849.40 849.40 853.60 856.80

14-Aug-09 1001.70 942.90 947.30 989.90

31-Aug-09 957.50 929.20 932.50

15-Sep-09 812.20 827.30 831.00 828.40

30-Sep-09 832.70 832.70 854.40 859.40

15-Oct-09 834.30 866.80 871.80 867.80

31-Oct-09 867.00 861.70 865.80

14-Nov-09 752.50 752.60 756.60 762.30

30-Nov-09 745.00 745.00 762.20 767.20

15-Dec-09 780.20 790.70 795.50 800.30

31-Dec-09 862.50 862.50 878.50 882.90

15-Jan-10 836.30 849.80 856.10 861.50

30-Jan-10 868.40 859.70 865.20

15-Feb-10 881.10 893.90 897.40 901.00

27-Feb-10 947.40 971.60 975.50 980.00

15-Mar-10 970.60 983.50 987.10 992.10

31-Mar-10 1125.70 1125.20 1121.20 1122.20

136

SPOT & FUTURES PRICES OF ZINC AT MCX

Rs. PER KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

31-Mar-09 30-Apr-09 29-May-09 30-Jun-09 31-Jul-09 28-Aug-09 30-Sep-09 30-Oct-09 30-Nov-09 31-Dec-09 29-Jan-10 26-Feb-10 31-Mar-10 30-Apr-10 28-May-10

31-Mar-09 66.25 66.25 66.70 67.25

15-Apr-09 72.25 74.30 75.35 75.45

29-Apr-09 68.40 69.05 70.25 71.15

15-May-09 72.35 72.65 73.35 74.60

30-May-09 71.35 72.90 73.55

15-Jun-09 76.75 74.25 75.25 76.95

30-Jun-09 74.40 74.40 74.45 75.35

15-Jul-09 73.90 73.95 74.70 75.30

31-Jul-09 84.15 84.15 83.00 83.70

14-Aug-09 90.45 87.45 88.35 89.95

31-Aug-09 88.80 90.00 90.70

15-Sep-09 88.70 90.35 91.15 90.95

30-Sep-09 91.90 91.90 92.95 93.70

15-Oct-09 90.20 93.15 93.90 93.45

31-Oct-09 103.05 101.85 102.45

14-Nov-09 99.30 100.60 101.25 101.85

30-Nov-09 103.50 103.50 106.40 106.90

15-Dec-09 106.15 107.85 108.50 108.50

31-Dec-09 119.95 119.95 118.30 118.45

15-Jan-10 111.45 112.25 113.10 113.60

30-Jan-10 98.40 97.75 98.40

15-Feb-10 101.20 101.80 102.50 102.45

27-Feb-10 99.75 101.05 101.70 102.2

15-Mar-10 102.75 103.30 104.00 104.55

31-Mar-10 106.50 106.45 105.90 106.5

137

SPOT & FUTURES PRICES OF GUAR SEED AT NCDEX

Rs. PER 100 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10

31-Mar-09 1622.10 1622.00 1648.00 1672.00 1693.00 1724.00 1719.00

15-Apr-09 1786.40 1816.00 1845.00 1871.00 1900.00 1910.00 1973.00 1997.00

29-Apr-09 1794.35 1819.00 1853.00 1883.00 1913.00 1931.00 1962.00

15-May-09 1794.50 1767.00 1798.00 1826.00 1861.00 1900.00 1978.00 1978.00

30-May-09 1750.15 1711.00 1740.00 1767.00 1796.00 1845.00 1816.00

15-Jun-09 1765.10 1751.00 1778.00 1806.00 1835.00 1855.00 1936.00 1974.00

30-Jun-09 1786.45 1813.00 1845.00 1877.00 1905.00 1936.00 1999.00

15-Jul-09 1924.80 1937.00 1976.00 2010.00 2032.00 2085.00 2120.00

31-Jul-09 2059.85 2123.00 2174.00 2220.00 2243.00 2284.00

14-Aug-09 2158.35 2231.00 2278.00 2320.00 2349.00 2401.00 2452.00 2505.00

31-Aug-09 2070.50 2074.00 2115.00 2153.00 2196.00 2231.00 2261.00

15-Sep-09 2081.80 2035.00 2065.00 2097.00 2127.00 2189.00 2193.00 2250.00

30-Sep-09 2177.35 2227.00 2268.00 2304.00 2300.00 2380.00 2350.00

15-Oct-09 2287.15 2306.00 2350.00 2386.00 2426.00 2470.00 2495.00 2527.00

31-Oct-09 2479.80 2487.00 2534.00 2574.00 2600.00 2640.00 2656.00

14-Nov-09 2604.30 2618.00 2662.00 2710.00 2763.00 2810.00 2840.00 2920.00

30-Nov-09 2724.90 2825.00 2874.00 2911.00 2929.00 2991.00 3000.00

15-Dec-09 2658.00 2668.00 2690.00 2727.00 2767.00 2840.00 2849.00 2879.00

31-Dec-09 2730.50 2792.00 2833.00 2869.00 2903.00 2890.00 2946.00

15-Jan-10 2528.45 2523.00 2556.00 2586.00 2609.00 2654.00 2678.00 2717.00

30-Jan-10 2378.25 2346.00 2377.00 2408.00 2454.00 2470.00 2501.00

15-Feb-10 2491.95 2481.00 2515.00 2544.00 2578.00 2615.00 2620.00 2687.00

27-Feb-10 2377.30 2350.00 2377.00 2408.00 2438.00 2437.00 2481.00

15-Mar-10 2266.90 2221.00 2241.00 2261.00 2289.00 2350.00 2350.00 2350.00

31-Mar-10 2302.45 2301.00 2327.00 2352.00 2366.00 2410.00 2426.00

138

SPOT & FUTURES PRICES OF SOY OIL AT NCDEX

Rs. PER 10 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

20-Apr-09 20-May-09 19-Jun-09 20-Jul-

09 20-Aug-09 18-Sep-09 20-Oct-09 20-Nov-09 18-Dec-09 20-Jan-10 19-Feb-10 19-Mar-10 20-Apr-10 20-May-10 18-Jun-10

31-Mar-09 448.30 446.00 442.95 440.05

15-Apr-09 497.85 492.75 491.80 488.55 490.40

29-Apr-09 493.30 494.25 491.00 490.30

15-May-09 498.25 499.10 506.15 509.85 513.95

30-May-09 483.00 487.70 494.15 496.15

15-Jun-09 472.75 474.05 484.80 489.20 491.40

30-Jun-09 470.60 477.75 483.95 487.90

15-Jul-09 456.55 457.80 460.35 460.35 458.10

31-Jul-09 444.50 452.55 456.20 452.10

14-Aug-09 479.05 478.05 486.90 486.20 484.60

31-Aug-09 450.90 454.20 458.45 456.15

15-Sep-09 423.75 422.75 427.00 421.70 424.10

30-Sep-09 429.65 434.65 432.55 435.25

15-Oct-09 434.45 434.30 434.00 436.65 443.90

31-Oct-09 443.70 451.00 456.95 462.20

14-Nov-09 447.40 456.60 467.80 472.80 479.55

30-Nov-09 499.35 501.40 505.70 509.35

15-Dec-09 480.55 485.55 487.45 489.70 491.75

31-Dec-09 483.00 487.85 491.90 494.55

15-Jan-10 468.05 467.55 469.40 470.20 472.05

30-Jan-10 445.75 445.85 448.15 449.65

15-Feb-10 456.00 457.65 460.35 462.25 465.20

27-Feb-10 455.70 462.35 465.30 467.40

15-Mar-10 451.00 452.90 456.65 459.40 460.15

31-Mar-10 450.60 449.95 449.60 450.60

139

SPOT & FUTURES PRICES OF CHANA AT NCDEX

Rs. PER 100 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10

31-Mar-09 2114.75 2192.00 2235.00 2276.00 2313.00 2353.00

15-Apr-09 2225.00 2291.00 2359.00 2416.00 2482.00 2516.00 2607.00

29-Apr-09 2250.00 2329.00 2388.00 2459.00 2515.00 2575.00

15-May-09 2214.50 2213.00 2287.00 2364.00 2428.00 2489.00 2531.00

30-May-09 2141.65 2138.00 2216.00 2282.00 2335.00 2398.00

15-Jun-09 2125.00 2064.00 2150.00 2220.00 2283.00 2332.00 2383.00

30-Jun-09 2202.75 2173.00 2248.00 2311.00 2359.00 2401.00

15-Jul-09 2483.55 2384.00 2469.00 2534.00 2588.00 2630.00 2723.00

31-Jul-09 2350.00 2421.00 2502.00 2562.00 2583.00 2629.00

14-Aug-09 2330.55 2219.00 2400.00 2521.00 2585.00 2631.00 2656.00

31-Aug-09 2250.00 2205.00 2341.00 2429.00 2491.00 2525.00

15-Sep-09 2300.00 2149.00 2280.00 2364.00 2430.00 2448.00 2355.00

30-Sep-09 2250.00 2305.00 2369.00 2411.00 2441.00 2381.00

15-Oct-09 2289.50 2276.00 2362.00 2409.00 2445.00 2416.00 2435.00

31-Oct-09 2411.20 2527.00 2630.00 2722.00 2775.00 2826.00

14-Nov-09 2425.00 2448.00 2578.00 2690.00 2738.00 2781.00 2824.00

30-Nov-09 2487.90 2638.00 2765.00 2845.00 2905.00 2960.00

15-Dec-09 2450.00 2434.00 2537.00 2625.00 2695.00 2759.00 2831.00

31-Dec-09 2433.10 2474.00 2551.00 2604.00 2657.00 2726.00

15-Jan-10 2373.00 2339.00 2440.00 2512.00 2566.00 2628.00 2671.00

30-Jan-10 2250.00 2185.00 2249.00 2301.00 2361.00 2424.00

15-Feb-10 2300.00 2218.00 2278.00 2338.00 2405.00 2469.00 2550.00

27-Feb-10 2171.25 2158.00 2221.00 2278.00 2332.00 2391.00

15-Mar-10 2180.00 2149.00 2225.00 2293.00 2349.00 2410.00 2464.00

31-Mar-10 2259.55 2289.00 2377.00 2456.00 2517.00 2562.00

140

SPOT & FUTURES PRICES OF SOY BEAN AT NCDEX

Rs. PER 100 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10

31-Mar-09 2337.00 2341.50 2335.50 2327.50 2325.50 2320.00

15-Apr-09 2558.00 2591.00 2650.00 2662.00 2649.50 2642.00 2659.00

29-Apr-09 2619.00 2621.00 2649.00 2654.00 2631.50 2510.00

15-May-09 2695.00 2700.50 2725.00 2738.00 2705.00 2553.50 2270.00

30-May-09 2567.00 2594.50 2616.50 2615.50 2504.00 2271.00

15-Jun-09 2515.00 2520.50 2585.50 2625.50 2605.50 2326.50 2266.00

30-Jun-09 2467.00 2474.50 2510.50 2506.00 2278.00 2225.00

15-Jul-09 2235.00 2252.50 2303.00 2334.00 2299.50 2221.00 2227.00

31-Jul-09 2206.00 2235.50 2282.00 2205.50 2163.50 2179.00

14-Aug-09 2337.00 2316.00 2358.50 2288.00 2261.00 2284.50 2326.00

31-Aug-09 2248.00 2249.50 2141.00 2118.00 2149.50 2192.00

15-Sep-09 1976.00 1969.00 1947.50 1936.50 1971.00 2013.00 2040.50

30-Sep-09 2000.00 2032.50 2018.00 2047.00 2073.00 2096.50

15-Oct-09 2058.00 2069.00 2074.50 2104.50 2161.00 2177.50 2192.00

31-Oct-09 2152.00 2230.00 2271.00 2344.50 2359.50 2374.00

14-Nov-09 2241.00 2261.50 2294.00 2343.50 2351.50 2363.50 2388.00

30-Nov-09 2404.00 2441.00 2516.00 2529.00 2533.00 2538.50

15-Dec-09 2360.00 2358.00 2432.50 2476.50 2488.00 2489.50 2489.00

31-Dec-09 2352.00 2383.50 2403.50 2392.50 2387.50 2393.00

15-Jan-10 2195.00 2213.00 2233.50 2231.00 2225.00 2225.50 2226.00

30-Jan-10 2052.00 2069.50 2052.00 2050.50 2051.50 2054.00

15-Feb-10 2167.00 2198.50 2138.50 2107.00 2098.50 2098.50 2091.00

27-Feb-10 2072.00 2085.00 2045.00 2034.00 2029.50 2009.50

15-Mar-10 1985.00 2023.00 1941.50 1899.50 1884.00 1855.50 1857.00

31-Mar-10 2029.00 2038.00 1993.00 1951.00 1917.50 1907.00

141

SPOT & FUTURES PRICES OF R/M SEED AT NCDEX

Rs. PER 20 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09 20-Oct-09 20-Nov-09 18-Dec-09 20-Jan-10 20-Apr-10 20-May-10 18-Jun-10 20-Jul-10

31-Mar-09 454.15 459.60 467.05 474.90

15-Apr-09 520.30 517.35 523.05 530.40 535.85

29-Apr-09 510.20 520.60 528.30 533.80 540.45

15-May-09 521.00 529.50 533.60 540.50 547.55 556.00

30-May-09 514.05 526.60 532.55 539.05 545.45

15-Jun-09 511.70 521.35 528.50 535.05 541.05 547.00

30-Jun-09 520.00 533.85 540.55 546.55 553.20

15-Jul-09 532.05 533.60 537.45 541.00 545.40 552.25

31-Jul-09 523.95 530.35 532.40 534.10 537.15

14-Aug-09 546.40 550.40 559.15 564.35 568.45 567.40

31-Aug-09 534.65 541.05 546.20 549.85 553.05

15-Sep-09 520.95 533.05 525.45 518.20 510.30 504.15

30-Sep-09 528.00 544.00 542.30 538.45 528.45

15-Oct-09 544.95 558.60 547.65 539.75 533.20

31-Oct-09 567.95 594.05 587.15 580.55 540.25

14-Nov-09 586.65 593.25 594.55 592.60 535.65 542.10

30-Nov-09 603.25 617.80 627.10 586.30 595.75

15-Dec-09 619.95 616.35 627.00 567.20 576.75 583.85

31-Dec-09 594.00 606.90 570.95 578.70 584.30

15-Jan-10 591.75 593.65 539.85 546.95 554.20 563.85

30-Jan-10 498.10 474.95 479.55 483.65 488.95

15-Feb-10 521.05 487.95 493.85 499.15 504.15

27-Feb-10 488.70 476.50 481.95 488.30 494.60

15-Mar-10 485.50 474.80 479.85 484.40 488.45

31-Mar-10 504.95 505.35 504.40 509.75 513.25

142

SPOT & FUTURES PRICES OF TURMERIC AT NCDEX

Rs. PER 100 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

20-Apr-09 20-May-09 19-Jun-09 20-Jul-09 20-Aug-09 18-Sep-09 20-Oct-09 20-Nov-09 18-Dec-09 20-Apr-10 20-May-10 18-Jun-10

31-Mar-09 4711.65 5226.00 5399.00 5539.00

15-Apr-09 5367.05 5491.00 5639.00 5739.00 5840.00

29-Apr-09 5134.25 5200.00 5297.00 5374.00

15-May-09 5446.10 5357.00 5452.00 5572.00 5671.00

30-May-09 5174.80 4875.00 4926.00 4979.00

15-Jun-09 5377.85 5369.00 5433.00 5444.00 5418.00

30-Jun-09 5357.50 5246.00 5186.00 5167.00

15-Jul-09 5727.85 5484.00 5511.00 5484.00 5422.00

31-Jul-09 6971.10 6433.00 6249.00 6209.00

14-Aug-09 8369.05 7656.00 7340.00 7229.00 7256.00

31-Aug-09 7953.85 7669.00 7381.00 7133.00

15-Sep-09 8103.70 8217.00 7472.00 7257.00 7092.00

30-Sep-09 8068.25 7836.00 7437.00 7173.00

15-Oct-09 9464.00 9096.00 8814.00 8642.00 7035.00

31-Oct-09 10806.40 10736.00 9954.00 7320.00

14-Nov-09 12578.35 12916.00 11100.00 7014.00 7067.00

30-Nov-09 11159.05 10676.00 7606.00 7498.00

15-Dec-09 10621.30 10539.00 6999.00 7028.00 7020.00

31-Dec-09 10670.05 7395.00 7410.00 7490.00

15-Jan-10 10445.25 7284.00 7343.00 7425.00

30-Jan-10 10748.40 6975.00 7076.00 7249.00

15-Feb-10 9824.45 7151.00 7180.00 7410.00

27-Feb-10 8834.75 7586.00 7680.00 7717.00

15-Mar-10 9640.20 10034.00 10005.00 9977.00

31-Mar-10 11293.20 10932.00 10794.00 10759.00

143

SPOT & FUTURES PRICES OF JEERA AT NCDEX

Rs. PER 100 KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10

31-Mar-09 11542.40 12123.00 12299.00 12480.00

15-Apr-09 12219.55 12964.00 13153.00 13325.00

29-Apr-09 12050.00 12191.00 12344.00 12434.00

15-May-09 11800.00 11488.00 11683.00 11862.00 12070.00

30-May-09 11298.70 10543.00 10681.00 10803.00

15-Jun-09 11277.65 10769.00 10923.00 11060.00 11049.00

30-Jun-09 11246.00 10779.00 10917.00 11060.00

15-Jul-09 11480.00 11288.00 11484.00 11600.00 11715.00

31-Jul-09 11578.55 11894.00 11997.00 12021.00

14-Aug-09 11826.65 11374.00 11774.00 12014.00 12182.00

31-Aug-09 11619.75 11187.00 11383.00 11590.00

15-Sep-09 11326.00 10651.00 10682.00 10739.00 10875.00

30-Sep-09 11430.00 11538.00 11536.00 11566.00

15-Oct-09 11718.35 11830.00 11877.00 12189.00

31-Oct-09 12359.10 12789.00 13011.00 13121.00

14-Nov-09 13204.15 13449.00 13950.00 14212.00 14252.00

30-Nov-09 14248.35 16531.00 16888.00 16929.00

15-Dec-09 14262.15 14005.00 14299.00 14510.00 14562.00

31-Dec-09 14578.60 14646.00 14919.00 15028.00

15-Jan-10 13384.80 12586.00 12859.00 13130.00 13465.00

30-Jan-10 12239.55 11849.00 12028.00 12279.00

15-Feb-10 11879.00 11322.00 11527.00 11947.00 12131.00

27-Feb-10 11641.20 11468.00 11680.00 11925.00

15-Mar-10 11676.30 10834.00 11537.00 11832.00 12100.00

31-Mar-10 11882.15 11199.00 11470.00 11765.00

144

Spot & Future prices of Rape/Mustard seed at NMCE.,Ahmedabad.

Price - In 20 Kg

Date Spot

Future closing prices for contract expiring on

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10

31-Mar-09 410.00 411.70 418.20 426.30 432.60

1-Apr-09 410.00 415.00 422.30 430.00 437.00

15-Apr-09 456.00 456.00 460.00 468.00 476.00

29-Apr-09 450.00 464.00 472.00 479.00 487.00

15-May-09 462.00 462.00 479.00 486.00 493.00

30-May-09 456.00 469.00 475.00 489.00 488.00

15-Jun-09 453.00 453.00 465.00 472.00 480.00

30-Jun-09 451.00 462.40 469.20 477.00 485.00

15-Jul-09 459.00 459.00 468.00 475.00 481.00

31-Jul-09 450.00 456.50 458.60 461.20 465.70

14-Aug-09 470.00 470.00 485.00 491.00 497.00

31-Aug-09 465.00 476.00 481.00 486.00 491.00

15-Sep-09 448.00 448.00 449.00 443.00 441.00

30-Sep-09 456.00 468.00 467.00 465.00 466.00

15-Oct-09 459.00 459.00 469.00 463.00 458.00

31-Oct-09 465.00 492.00 491.00 488.00 481.40

14-Nov-09 493.00 493.00 508.00 505.00 504.00

30-Nov-09 510.00 522.00 531.00 520.00 509.00

15-Dec-09 507.00 507.00 517.00 504.00 497.00

31-Dec-09 495.00 503.00 497.00 496.00 490.00

15-Jan-10 475.00 475.00 464.00 461.00 450.00

30-Jan-10 420.00 414.00 407.00 401.00 405.00

15-Feb-10 453.00 453.00 442.00 419.00 424.00

27-Feb-10 442.00 432.00 423.00 430.00 438.00

15-Mar-10 444.00 444.00 433.00 439.00 445.00

31-Mar-10 460.00 462.00 463.00 468.00 470.00

145

Spot & Future prices of Sacking at NMCE.,Ahmedabad.

Price - In 100 Bags

Date Spot

Future closing prices for contract expiring on

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10

31-Mar-09 2473.80 2492.00 2540.00 2584.00 2647.90

1-Apr-09 2473.80 2498.00 2541.00 2582.60 2644.60

15-Apr-09 2547.00 2547.00 2610.00 2660.00 2710.00

29-Apr-09 2626.80 2660.00 2705.00 2750.80 2795.60

15-May-09 2590.00 2590.00 2635.00 2690.00 2730.00

30-May-09 2560.30 2580.00 2625.00 2675.00 2720.00

15-Jun-09 2653.00 2653.00 2712.00 2757.00 2790.00

30-Jun-09 2826.30 2860.00 2901.00 2969.40 3025.20

15-Jul-09 2806.00 2806.00 2848.00 2906.00 2963.00

31-Jul-09 2859.50 2890.00 2948.00 3002.40 3058.80

14-Aug-09 2694.00 2694.00 2715.00 2775.00 2837.00

31-Aug-09 2640.10 2682.00 2736.00 2791.00 2844.00

15-Sep-09 2724.00 2724.00 2801.00 2849.00 2905.00

30-Sep-09 2806.30 2857.00 2924.00 2974.00 3030.00

15-Oct-09 2784.00 2784.00 2856.00 2911.00 2967.00

31-Oct-09 2793.00 2850.00 2900.00 2958.00 3010.00

14-Nov-09 2800.00 2800.00 2848.00 2906.00 2962.00

30-Nov-09 3092.30 3138.00 3200.00 3265.00 3330.00

15-Dec-09 2973.00 2973.00 3010.00 3072.00 3148.90

31-Dec-09 2972.60 3012.00 3072.00 3134.00 3177.80

15-Jan-10 2993.00 2993.00 3048.00 3108.00 3160.00

30-Jan-10 2992.50 3056.00 3114.00 3175.00 3233.00

15-Feb-10 3015.00 3028.50 3119.00 3180.00 3240.00

27-Feb-10 3092.30 3129.00 3193.00 3270.00 3320.00

15-Mar-10 3079.00 3079.00 3130.00 3191.00 3253.00

31-Mar-10 2972.60 3022.00 3083.00 3144.00 3200.00

146

Spot & Future prices of Soy oil at NMCE.,Ahmedabad.

Price - In 10 Kg

Date Spot

Future closing prices for contract expiring on

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10

31-Mar-09 449.00 446.30 442.95 440.10 443.00

1-Apr-09 452.00 449.50 444.05 448.00 450.00

15-Apr-09 498.00 491.00 491.35 490.00 495.00 495.00

29-Apr-09 492.00 494.30 491.50 490.50 492.50

15-May-09 499.00 501.00 509.00 513.50 517.70 519.85

30-May-09 484.00 488.00 494.50 497.05 501.80

15-Jun-09 475.00 475.10 484.90 489.10 491.20 494.85

30-Jun-09 472.00 479.30 485.90 488.00 490.50

15-Jul-09 455.00 458.00 460.50 460.50 458.00 459.00

31-Jul-09 448.00 452.90 455.90 453.00 456.00

14-Aug-09 473.00 477.10 487.25 486.00 484.00 485.00

31-Aug-09 452.00 453.50 457.80 456.30 457.00

15-Sep-09 426.00 422.70 427.00 421.90 424.00 427.00

30-Sep-09 430.00 434.00 431.70 435.25 436.10

15-Oct-09 436.00 434.25 434.00 436.70 443.80 445.00

31-Oct-09 445.00 450.70 456.60 463.00 466.00

14-Nov-09 448.00 456.00 467.25 472.90 478.00 481.00

30-Nov-09 498.00 501.30 504.15 509.00 513.00

15-Dec-09 480.00 485.30 488.00 489.70 492.00 495.00

31-Dec-09 484.00 488.50 491.75 494.50 496.60

15-Jan-10 470.00 467.50 468.85 470.20 472.00 474.00

30-Jan-10 445.00 445.65 447.80 450.00 452.00

15-Feb-10 457.00 457.80 460.25 462.00 465.00 467.00

27-Feb-10 457.00 462.50 465.25 467.30 470.00

15-Mar-10 451.50 453.00 456.50 459.40 460.00 463.00

31-Mar-10 451.00 450.00 449.50 451.00 452.00

147

Spot & Future prices of Guarseed at NMCE.,Ahmedabad.

Price - In 100 Kg

Date Spot

Future closing prices for contract expiring on

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10

31-Mar-09 1643 1653 1679 1703 1728

1-Apr-09 1638 1647 1673 1697 1725

15-Apr-09 1810 1847 1881 1909 1938 1968

29-Apr-09 1815 1855 1887 1918 1950

15-May-09 1790 1788 1817 1847 1887 1917

30-May-09 1725 1705 1734 1764 1794

15-Jun-09 1760 1745 1774 1804 1833 1862

30-Jun-09 1805 1831 1862 1893 1925

15-Jul-09 1895 1913 1942 1972 2001 2032

31-Jul-09 2050 2086 2133 2172 2215

14-Aug-09 2127 2212 2262 2312 2360 2410

31-Aug-09 2050 2076 2115 2162 2205

15-Sep-09 2070 2062 2100 2140 2180 2243

30-Sep-09 2130 2140 2175 2210 2244

15-Oct-09 2240 2275 2317 2356 2397 2439

31-Oct-09 2405 2427 2471 2516 2561

14-Nov-09 2565 2578 2627 2678 2730 2778

30-Nov-09 2680 2751 2798 2843 2890

15-Dec-09 2600 2622 2652 2690 2725 2760

31-Dec-09 2700 2756 2797 2840 2895

15-Jan-10 2445 2452 2483 2511 2540 2560

30-Jan-10 2340 2328 2360 2387 2410

15-Feb-10 2460 2480 2510 2539 2569 2600

27-Feb-10 2328 2319 2350 2380 2410

15-Mar-10 2230 2190 2209 2239 2260 2282

31-Mar-10 2278 2281 2308 2332 2355

148

Spot & Future prices of Chana at NMCE.,Ahmedabad.

Price - In 100 Kg

Date Spot

Future closing prices for contract expiring on

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10

31-Mar-09 2100 2195 2235 2295 2315 2355

1-Apr-09 2100 2195 2238 2275 2318 2351

15-Apr-09 2225 2292 2362 2420 2482 2517 2575

29-Apr-09 2250 2330 2390 2460 2515 2580

15-May-09 2200 2222 2293 2367 2430 2492 2535

30-May-09 2150 2138 2215 2285 2325 2380

15-Jun-09 2138 2070 2167 2225 2287 2338 2390

30-Jun-09 2200 2174 2249 2314 2360 2400

15-Jul-09 2488 2383 2466 2537 2590 2631 2725

31-Jul-09 2350 2417 2500 2550 2598 2640

14-Aug-09 2331 2216 2389 2520 2587 2630 2660

31-Aug-09 2250 2205 2340 2430 2495 2527

15-Sep-09 2300 2145 2279 2364 2428 2450 2355

30-Sep-09 2250 2302 2366 2410 2442 2385

15-Oct-09 2288 2276 2362 2406 2445 2418 2436

31-Oct-09 2400 2528 2631 2735 2790 2785

14-Nov-09 2525 2448 2575 2690 2740 2770 2808

30-Nov-09 2495 2634 2763 2844 2900 2958

15-Dec-09 2450 2432 2537 2626 2698 2760 2832

31-Dec-09 2438 2469 2545 2605 2659 2725

15-Jan-10 2355 2337 2436 2512 2566 2628 2671

30-Jan-10 2250 2184 2248 2309 2365 2400

15-Feb-10 2288 2222 2278 2336 2401 2468 2552

27-Feb-10 2163 2157 2220 2280 2331 2383

15-Mar-10 2175 2147 2224 2294 2350 2410 2465

31-Mar-10 2263 2288 2373 2455 2517 2560

149

Spot & Future prices of Isabgulseed at NMCE.,Ahmedabad.

Price - In 100 Kg

Date Spot

Future closing prices for contract expiring on

Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10

31-Mar-09 4712.00 4750.00 4940.00 5136.50

1-Apr-09 4712.00 4760.00 4952.00 5142.00

15-Apr-09 4846.00 4846.00 5075.00 5260.00

29-Apr-09 5144.00 5298.00 5488.00 5673.60

15-May-09 5394.00 5502.00 5692.00 5877.00

30-May-09 5325.00 5380.00 5570.00 5753.00

15-Jun-09 5394.00 5394.00 5600.00 5790.00

30-Jun-09 5450.00 5600.00 5825.00 6052.00

15-Jul-09 5600.00 5712.00 5937.00 6157.00

31-Jul-09 5713.00 5800.00 6032.00 6270.00

14-Aug-09 5738.00 5738.00 5970.00 6180.00

31-Aug-09 6063.00 6265.00 6514.00 6765.00

15-Sep-09 6006.00 6126.00 6351.00 6571.00

30-Sep-09 5975.00 6068.00 6298.00 6517.20

15-Oct-09 5975.00 5975.00 6260.00 6490.00

31-Oct-09 6163.00 6374.00 6574.00 6814.00

14-Nov-09 6213.00 6343.00 6575.00 6794.00

30-Nov-09 6425.00 6522.00 6730.00 6950.00

15-Dec-09 6692.00 6692.00 6837.00 6998.00

31-Dec-09 6644.00 6739.00 6889.00 7114.00

15-Jan-10 6388.00 6481.00 6568.00 6798.00

30-Jan-10 6125.00 6175.00 6214.00 6403.00

15-Feb-10 5489.00 5560.70 5510.00 5650.00

27-Feb-10 5038.00 5100.00 5167.00 5270.00

15-Mar-10 4838.00 4912.00 4980.00 5060.00

31-Mar-10 4588.00 4601.00 4650.00 4700.00

150

Spot & Future prices of Kilo Gold at NMCE.,Ahmedabad.

Price - In 10 GM

Date Spot

Future closing prices for contract expiring on

Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10

31-Mar-09 15100 14925 15090 15065

1-Apr-09 15080 15087 15066 15041

15-Apr-09 14330 14310 14370

29-Apr-09 14500 14495 14495 14579

15-May-09 14810 14830 14845 14850

30-May-09 14925 14902 14835 14860

15-Jun-09 14450 14400 14410

30-Jun-09 14625 14450 14490 14512

15-Jul-09 14725 14760 14755 14642

31-Jul-09 14700 14650 14850 14880

14-Aug-09 14975 14870 14880

31-Aug-09 15150 15105 15125 15090

15-Sep-09 15750 15800 15808 15835

30-Sep-09 15600 15610 15640 15645

15-Oct-09 15820 15825 15830

31-Oct-09 15950 15960 15970 15990

14-Nov-09 16750 16790 16840 16855

30-Nov-09 17625 17650 17690 17715

15-Dec-09 16940 17070 17075

31-Dec-09 16690 16680 16735 16795

15-Jan-10 16800 16815 16910 17002

30-Jan-10 16295 16200 16230 16260

15-Feb-10 16535 16560 16583

27-Feb-10 16800 16780 16855 16830

15-Mar-10 16490 16500 16596 16760

31-Mar-10 16325 16325 16374 16430

151

Spot & Future prices of Zinc at NMCE.,Ahmedabad.

Price - In 1 Kg

Date Spot

Future closing prices for contract expiring on

Mar-09 Apr-09 May-09 Jun-09 Jul-

09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10

31-Mar-09 65.70 65.70 66.20 66.35

1-Apr-09 66.20 66.35 66.85 68.00

15-Apr-09 70.90 72.25 73.10 74.00

29-Apr-09 68.60 68.60 70.00 71.00

15-May-09 73.25 72.50 73.30 74.10

30-May-09 69.80 69.80 73.00 73.80

15-Jun-09 79.75 74.75 75.50 76.20

30-Jun-09 75.80 75.80 73.65 74.45

15-Jul-09 73.25 73.90 74.70 74.80

31-Jul-09 80.70 80.70 82.95 83.20

14-Aug-09 90.45 87.90 88.80 89.45

31-Aug-09 89.10 89.10 89.75 90.15

15-Sep-09 88.70 89.40 90.45 90.85

30-Sep-09 89.90 89.90 92.50 93.00

15-Oct-09 90.20 92.65 93.80 94.90

31-Oct-09 103.70 103.70 101.70 103.00

14-Nov-09 99.30 100.60 101.30 102.00

30-Nov-09 103.40 102.85 105.65 106.20

15-Dec-09 106.15 107.40 108.05 108.25

31-Dec-09 118.70 118.70 118.15 118.25

15-Jan-10 111.45 112.20 113.00 113.75

30-Jan-10 98.90 98.90 97.85 99.00

15-Feb-10 101.20 101.35 102.05 102.90

27-Feb-10 99.70 99.70 101.05 107.70

15-Mar-10 102.75 103.30 104.00 104.30

31-Mar-10 104.60 104.60 105.75 106.35

152

Spot & Future prices of Lead at NMCE.,Ahmedabad.

Price - In 1 Kg

Date Spot

Future closing prices for contract expiring on

Mar-09 Apr-09 May-09 Jun-09 Jul-

09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10

31-Mar-09 63.60 63.60 65.85 64.25

1-Apr-09 64.40 63.80 64.25 65.35

15-Apr-09 76.65 75.75 77.20 77.60

29-Apr-09 68.20 68.20 66.50 67.00

15-May-09 71.80 72.80 72.60 72.70

30-May-09 70.40 70.40 74.25 75.40

15-Jun-09 85.05 79.50 79.70 83.20

30-Jun-09 82.70 82.70 80.60 81.60

15-Jul-09 77.90 78.40 79.10 80.00

31-Jul-09 85.80 85.80 88.00 89.00

14-Aug-09 91.85 89.65 89.20 89.80

31-Aug-09 100.40 98.35 102.15 102.20

15-Sep-09 102.60 103.85 104.05 104.15

30-Sep-09 105.80 105.80 108.20 107.20

15-Oct-09 98.20 100.90 101.40 101.80

31-Oct-09 109.00 109.00 107.80 108.00

14-Nov-09 104.20 104.80 105.00 105.50

30-Nov-09 107.40 107.40 107.80 108.35

15-Dec-09 107.00 107.95 108.60 108.80

31-Dec-09 111.40 111.40 112.75 112.90

15-Jan-10 111.40 112.20 113.05 113.80

30-Jan-10 95.80 95.80 94.10 95.00

15-Feb-10 98.90 99.90 100.80 101.35

27-Feb-10 99.60 99.60 100.15 100.90

15-Mar-10 99.60 100.65 101.65 102.15

31-Mar-10 96.30 96.30 96.65 97.70

153

Spot & Future prices of Nikel at NMCE.,Ahmedabad.

Price - In 1 Kg

Future closing prices for contract expiring on

Date Spot Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10

31-Mar-09 484.80 484.80 495.00 489.60

1-Apr-09 495.80 514.00 520.00 525.00

15-Apr-09 585.70 593.00 596.00 600.00

29-Apr-09 561.50 561.50 565.80 573.20 580.10

15-May-09 615.10 612.50 616.00 620.20 626.00

30-May-09 644.00 644.00 656.00 662.00 666.00

15-Jun-09 730.30 710.00 710.00 716.00 721.00

30-Jun-09 765.10 765.10 738.80 745.90 750.00

15-Jul-09 769.90 768.00 772.60 774.10 777.00

31-Jul-09 811.20 811.20 847.30 854.00 860.00

14-Aug-09 1001.70 942.00 952.80 976.70 980.00

31-Aug-09 955.00 955.00 925.00 929.00 932.00

15-Sep-09 812.20 819.50 822.10 827.80 830.10

30-Sep-09 812.00 812.00 850.00 852.10 840.10

15-Oct-09 834.20 863.50 871.00 878.00 885.00

31-Oct-09 870.40 870.40 862.00 868.00 873.00

14-Nov-09 752.50 753.50 756.50 762.00 765.50

30-Nov-09 758.90 758.90 756.50 762.00 766.00

15-Dec-09 780.20 789.40 794.10 799.00 804.00

31-Dec-09 876.10 876.10 878.80 882.70 885.00

15-Jan-10 836.30 847.60 854.80 863.00 868.00

30-Jan-10 858.90 858.90 859.90 864.80 869.00

15-Feb-10 881.10 880.00 884.00 891.80 896.30

27-Feb-10 944.90 944.90 971.20 975.10 979.00

15-Mar-10 970.60 976.20 980.00 985.00

31-Mar-10 1097.40 1097.40 1116.30 1117.00

154

SPOT & FUTURES PRICES OF CRUDE OIL AT ICEX

Rs. PER Barrel

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

18-Dec-09 19-Jan-10 19-Feb-10 19-Mar-10 19-Apr-10 19-May-10 21-Jun-10

27-Nov-09 3552.00 3565.00 3628.00 3677.00

30-Nov-09 3537.00 3541.00 3604.00 3650.00

15-Dec-09 3248.01 3262.00 3383.00 3462.00

31-Dec-09 3701.26 3724.00 3757.00 3785.00

15-Jan-10 3594.69 3593.00 3623.00 3665.00

30-Jan-10 3368.32 3378.00 3407.00 3441.00

15-Feb-10 3440.47 3434.00 3457.00 3492.00

27-Feb-10 3682.68 3669.00 3688.00 3720.00

15-Mar-10 3681.50 3640.00 3669.00 3686.00

31-Mar-10 3750.23 3752.00 3750.00 3747.00

SPOT & FUTURES PRICES OF GOLD AT ICEX

Rs. PER 10 GRAMS

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

1-Feb-10 1-Apr-10 1-Jun-10 2-Aug-10

27-Nov-09 17677.00 18035.00 18068.00 17997.00

30-Nov-09 17678.19 17621.00 17750.00 17641.00

15-Dec-09 16942.23 17026.00 17056.00 17087.00

31-Dec-09 16708.04 16650.00 16711.00 16714.00

15-Jan-10 16788.75 16846.00 16905.00 16956.00

30-Jan-10 16236.00 16199.00 16319.00 16374.00

15-Feb-10 16533.00 16622.00 16676.00 16710.00

27-Feb-10 16797.09 16785.00 16863.00 16933.00

15-Mar-10 16509.81 16543.00 16600.00 16688.00

31-Mar-10 16301.78 16294.00 16430.00 16538.00

155

SPOT & FUTURES PRICES OF COPPER AT ICEX

Rs. PER KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

26-Feb-10 30-Apr-10 30-Jun-10 31-Aug-10

27-Nov-09 319.03 321.50 323.45 325.00

30-Nov-09 317.30 318.80 309.00 310.00

15-Dec-09 319.68 324.70 326.80 327.00

31-Dec-09 342.23 344.70 346.65 348.00

15-Jan-10 339.91 340.05 342.35 344.35

30-Jan-10 310.37 311.25 314.00 316.90

15-Feb-10 314.83 317.90 318.90 321.30

27-Feb-10 333.94 334.85 336.00 336.45

15-Mar-10 332.61 334.35 336.50 337.20

31-Mar-10 353.33 351.35 352.55 354.05

SPOT & FUTURES PRICES OF SILVER AT ICEX

Rs. PER KG

Date SPOT FUTURES CLOSING PRICES FOR CONTRACT EXPIRING ON

2-Mar-10 3-May-10 1-Jul-10 1-Sep-10

27-Nov-09 28002.00 28945.00 29090.00 28507.00

30-Nov-09 28184.00 28301.00 27260.00 28470.00

15-Dec-09 27087.83 27224.00 27382.00 27528.00

31-Dec-09 26710.99 26655.00 26831.00 27091.00

15-Jan-10 28010.22 28250.00 29408.00 28610.00

30-Jan-10 25471.88 25512.00 25743.00 25920.00

15-Feb-10 24477.07 24555.00 24746.00 23871.00

27-Feb-10 25763.38 25766.00 26097.00 26400.00

15-Mar-10 26645.42 26755.00 26947.00 27026.00

31-Mar-10 26837.55 26956.00 27140.00 27342.00

NCDEX SPOT PRICES AS REPORTED ON NCDEX PLATFORM

MCX SPOT PRICES AS REPORTED ON MCX PLATFORM

ICEX SPOT PRICES AS REPORTED ON ICEX PLATFORM

*ICEX Exchange started from 27th November 2009.

156

Spot and future prices of Soy oil at NBOT.,Indore

Price - In 10 KG

Date Spot Future closing prices for contract expiring on

Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10

31-Mar-09 449.30 447.10 444.20

1-Apr-09 452.40 453.20 450.80

15-Apr-09 490.40 490.40 491.80 460.00

29-Apr-09 490.90 495.40 0.00

15-May-09 499.80 499.80 507.40 518.00

30-May-09 484.60 488.00 493.50

15-Jun-09 476.30 476.30 484.30 0.00

30-Jun-09 474.20 477.00 0.00

15-Jul-09 456.00 452.60 460.50

31-Jul-09 445.60 452.20 455.40

14-Aug-09 473.10 473.10 488.00 486.60

31-Aug-09 451.50 456.80 459.60

15-Sep-09 420.80 420.80 426.20 0.00

30-Sep-09 430.50 436.00 437.00

15-Oct-09 434.10 434.10 433.60

31-Oct-09 442.60 449.80 456.40

14-Nov-09 446.60 446.60 468.60

30-Nov-09 497.70 498.00 506.50

15-Dec-09 482.30 482.30 486.50 495.20

31-Dec-09 483.00 484.50 490.50

15-Jan-10 468.00 470.40 466.70

30-Jan-10 445.20 443.40 448.00

15-Feb-10 456.20 459.10 458.50

27-Feb-10 455.20 459.10 463.50

15-Mar-10 451.40 452.50 454.00

31-Mar-10 451.00 447.80 449.30