Sunday, June 4, 2023

SCCI organise awareness programme on commodity markets


Jamshedpur, Dec 18: With an aim to widen the base of market participants and enlighten them about the price risk management tools, Multi Commodity Exchange of India Ltd (MCX), organised an awareness programme along with Forward Markets Commission (FMC) and Singhbhum Chamber of Commerce and Industry at Jamshedpur.

The programme was customised for the local industries in and around Jamshedpur. This was a knowledge sharing platform to create a better perspective and understanding of the commodity futures market.

The participants were enlightened about the use of an exchange platform such as MCX to manage risk to which they would be exposed to and volatility associated with commodity prices.

The different sessions were focused on the fundamentals of base metals, hedging techniques, trading strategies among others. The experts threw light on various other aspects concerning the base metals sector.

Sumesh Parasrampuria, Director-Business Development, MCX said, �Over the last decade, MCX has played a crucial role in imparting knowledge by organising commodity awareness programmes for the market participants.

It endeavours to systematically develop markets through incessant innovation, education and research, focussed on spreading awareness on the modern trading and hedging mechanisms facilitated by commodity futures exchanges. We are delighted with the overwhelming response to the awareness programme held at Jamshedpur.�

Suresh Sonthalia, President, Singhbhum Chamber of Commerce and Industry said, �The experts highlighted the advantages of an efficient derivatives market alongside communicating the benefits of hedging and price discovery to the participants of the commodity ecosystem.

Moreover, they educated the participants about the various contracts offered by the commodity exchanges that meet the need of the value chain participants, and bring a plethora of benefits to all the stake holders.�

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