In a significant move that could help
country’s commodity futures market players, the Indian government has exempted
commodities kept in regulated warehouses from the purview of stock limits
imposed by state governments to curb hoarding under the Essential Commodities
Act.
This was one of the key reforms that
commodity markets regulator Forward Markets Commission (FMC) was pushing with
the Consumer Affairs Ministry for last few years.
The exemption has been given subject to the condition that these warehouses publish the information of stock available with them on a real time basis, it said.
The Department of Consumer Affairs has
also issued an advisory to all the state governments in this regard and asked
the commodity exchanges to inform all market participants about the
development.
Currently, there are four national and
six regional level commodity exchanges in the country.
No comments:
Post a Comment