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GOVERNMENT OF INDIA

FORWARD MARKETS COMMISSION

MINISTRY OF CONSUMER AFFAIRS FOOD AND PUBLIC DISTRIBUTION

DEPARTMENT OF CONSUMER AFFAIRS

FMC Bulletin April 2013 – June 2013

EVEREST, 3RD FLOOR. 100, MARINE DRIVE, MUMBAI 400 002

INDEX

Ch. No. Subject Pg. No.

1 Commodity Market Review at a Glance 2

2 Performances of the Exchanges in the Commodity Market 1.Multi Commodity Exchange of India Ltd., Mumbai 3

2. National Commodity & Derivatives Exchange Ltd.,Mumbai

6

3. National Multi Commodity Exchange of India Ltd.,Ahmedabad

11

4. Indian Commodity Exchange Ltd., Mumbai 13

5. ACE Derivatives & Commodity Exchange Ltd.,Mumbai

16

6.Universal Commodity Exchange Ltd., Navi Mumbai 18

3. Important Developments in the Commodity Market 20

4. Developmental Activities 25

Annexure

Sr. No. Subject Pg. No.

I List of commodities notified under section 15 of the

FCRA 1952.

28

II List of Recognized Commodity Exchanges 30

III Volume and value of commodities traded during the

period April 2013 –June 2013

31

IV Details of permissions granted to Recognized

Exchanges

32

V State wise details of Awareness programs conducted

during the period April 2013 –June 2013

34

1

FOREWORD

Forward Markets Commission regulates forward trading in 113 commodities at the 17 Recognized

Commodity Exchanges, of which 6 are National Commodity Exchanges and 11 are Commodity

Specific Regional Exchanges.

During the period under review, April 2013 to June 2013, in Agricultural Commodities, food items viz.

Refined Soya Oil, Soya bean, Chana, Rapeseed/Mustard seed, Coriander and Crude Palm Oil

contributed major share to the total value of trade. In Non food items, Castor seed, Cotton seed Oil

cake, Mentha Oil, and Cotton contributed major share in the commodity trading. The total value of

trade during the above said period was ₹41.45 lakh crore as against ₹41.72 lakh crore during the

corresponding period last year. During the period, the value of trade in Bullion was ₹19.38 lakh crore

and in Metals other than Bullion was ₹7.93 lakh crore. Value of trade in Agriculture Commodities and

Energy Products amounted to ₹3.68 lakh crore and ₹10.46 lakh crore respectively. The total value of

trade at the 6 National Multi Commodity Exchanges was ₹41.41 lakh crore and at the remaining 11

Commodity Exchanges, it was ₹0.04 lakh crore.

Commission also continued with various developmental activities under the plan scheme

“Strengthening of FMC” such as conducting awareness programs, capacity building program and the

Price Dissemination Project for the benefit of all stakeholders. During the period under review, 193

awareness programs, 1 capacity building program and 3 stakeholder’s meetings were conducted and

267 Price Ticker Boards were installed.

2

1. COMMODITY MARKET REVIEW AT A GLANCE

There are 17 Commodity Exchanges (11 Regional and 6 National Exchanges) regulating futures

trading in commodities.

During the period under review (April 2013 to June 2013), the total value of trade in all commodities

traded at the recognized Exchanges was ₹41.45 lakh crore as against ₹40.84 lakh crore during the

previous quarter (January 2013 to March 2013) and ₹41.72 lakh crore during the corresponding

period of last year.

The six major commodity Exchanges contributed 99.89 % to the total value of trade in the Commodity

futures market. These are MCX, Mumbai (90.46 %), NCDEX, Mumbai (6.56 %), NMCE, Ahmedabad

(0.97 %), ICEX, Mumbai (0.89 %), ACE Derivatives and Commodity Exchange Ltd., Mumbai (0.45%)

and Universal Commodity Exchange Ltd., Navi Mumbai (0.56%).

The following table indicates the total volume and value of trade during the quarter (April 2013 to June

2013) in the major commodity Exchanges.

Name of Exchange Volume of Trade (In lakh tons)

Value (₹ in Crore)

% share (In value terms)

Multi Commodity Exchange of India Ltd., Mumbai

2502.99 3749925.46 90.46

National Commodity & Derivatives Exchange Ltd., Mumbai

672.14 272011.87 6.56

National Multi Commodity Exchange of India Ltd., Ahmedabad

48.46 40140.27 0.97

Indian Commodity Exchange Ltd., Mumbai

55.06 36956.77 0.89

ACE Derivatives & Commodity Exchange Ltd., Mumbai

27.72 18526.89 0.45

Universal Commodity Exchange Ltd., Navi Mumbai

9.53 23357.63 0.56

Total of National Exchanges 3315.90 4140918.89 99.89

Regional Exchanges 11.84 4544.57 0.11

Grand total 3327.74 4145463.46 100 Note: Natural Gas volumes are not included in the Total Volume.

It is seen from Annexure III that the major commodity groups traded in the commodity market

were Bullion, Energy, Metals and Agri (Food and Non-Food Items). In Agricultural commodities the

major contribution to the total value of trade was from Refined Soya Oil, Soya bean, Chana, Castor

seed and Rapeseed/Mustard seed,

The Cumulative value of commodities traded during April 2013 to June 2013 and the value of trade for

the corresponding period last year (April 2012 to June 2012) is given below :-

(In ₹ lakh crore)

April 2013 to June 2013 January 2013 to March 2013 April 2012 to June 2012 41.45 40.84 41.72

3

2. PERFORMANCES OF THE EXCHANGES IN THE COMMODITY MARKET

I. Multi Commodity Exchange of India Ltd., Mumbai ( MCX)

During the period under review, Gold, Silver, Crude Oil, Copper, Natural Gas, Lead, Zinc & Nickel

contracts constituted a major share of the value of commodities traded at the MCX, Mumbai.

The following table indicates the percentage share of major commodities traded at MCX, Mumbai,

during the period under review.

Commodities Total value (In ₹ crore)

% share to the total value

GOLD 1089647.43 29.06 SILVER 813830.71 21.70 CRUDE OIL 790195.37 21.07 COPPER 364834.10 9.73 NATURAL GAS 239666.49 6.39 LEAD 166079.19 4.43 ZINC 103508.84 2.76 NICKEL 75630.62 2.02 Total of major commodities 3643392.74 97.16 Other commodities 106532.72 2.84 Total 3749925.46 100.00

Graphical presentation showing the percentage share of above Commodities / Contracts is

given in the following diagram:

Graphical presentation of ready and futures prices of eight major commodities viz., Gold,

Silver, Crude Oil, Copper, Natural Gas, Lead, Zinc & Nickel at MCX, Mumbai during the period under

review is given below.

PERCENTAGE SHARE OF THE VALUE OF THE COMMODITIES TRADED AT MCX ,MUMBAI DURING APRIL 2013 TO JUNE 2013

Other Commodities2.84%

Nickel2.02%

Zinc2.76%Lead

4.43%

Natural Gas6.39%

Copper9.73%

Crude Oil21.07% Silver

21.70%

Gold29.06%

Gold Silver Crude Oil Copper Natural Gas Lead Zinc Nickel Other Commodities

4

GOLD

SILVER

CRUDE OIL

2500026000270002800029000300003100032000

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

10G

MS

SPOT & FUTURES PRICES OF GOLD TRADED AT MCX, MUMBAI

Ready Prices 5-Jun-13 5-Aug-13 5-Oct-13 5-Dec-13

3800040500430004550048000505005300055500

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF SILVER TRADED AT MCX, MUMBAI

Ready Prices 4-May-13 5-Jul-13 5-Sep-13 5-Dec-13

4650

4800

4950

5100

5250

5400

5550

5700

5850

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 B

BL

SPOT & FUTURES PRICES OF CRUDE OIL TRADED AT MCX, MUMBAI

Ready Prices 19-Apr-13 20-May-13 19-Jun-13 19-Jul-13

19-Aug-13 19-Sep-13 21-Oct-13 19-Nov-13 18-Dec-13

5

COPPER

NATURAL GAS

LEAD

370

385

400

415

430

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF COPPER TRADED AT MCX, MUMBAI

Ready Prices 30-Apr-13 28-Jun-13 30-Aug-13 29-Nov-13

205

215

225

235

245

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ p

er 1

mm

Btu

SPOT & FUTURES PRICES OF NATURAL GAS TRADED AT MCX, MUMBAI

Ready Prices 25-Apr-13 28-May-13 25-Jun-13

26-Jul-13 27-Aug-13 25-Sep-13

105

110

115

120

125

130

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF LEAD TRADED AT MCX, MUMBAI


31-Jul-13 30-Aug-13 30-Sep-13 31-Oct-13

6

ZINC

NICKEL

II. National Commodity and Derivatives Exchange, Ltd., Mumbai (NCDEX)

During the period under review, Soy Oil, Soya Bean, Chana, Castor Seed, R/M Seed, Dhaniya,

Cotton Cake, Jeera, Turmeric & Sugar M constituted a major share of the value of commodities

traded at the NCDEX, Mumbai.

The following table indicates the percentage share of major commodities traded at NCDEX, Mumbai


95

100

105

110

1156-

Apr

-13

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF ZINC TRADED AT MCX, MUMBAI


31-Jul-13 30-Aug-13 30-Sep-13 31-Oct-13

800

825

850

875

900

925

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF NICKEL TRADED AT MCX, MUMBAI


31-Jul-13 30-Aug-13 30-Sep-13 31-Oct-13

7



Soya Oil 77201.83 28.38 Soya Bean 35508.98 13.05 Chana 32010.68 11.77 Castor Seed 26025.43 9.57 R/M Seed 23050.08 8.47 Dhaniya 18114.27 6.66 Cotton Cake 17120.86 6.29 Jeera 10173.92 3.74 Turmeric 9600.04 3.53 Sugar M 4740.49 1.74 Total of major commodities 253546.58 93.21 Other commodities 18465.29 6.79 Total 272011.87 100.00

Graphical presentation of ready and futures prices of ten major commodities viz., Soy Oil, Soya Bean, Chana, Castor Seed, R/M Seed, Dhaniya, Cotton Cake, Jeera, Turmeric & Sugar M at NCDEX, Mumbai during the period under review is given below.

SOY OIL

PERCENTAGE SHARE OF THE VALUE OF THE COMMODITIES TRADED AT NCDEX,MUMBAI DURING APRIL TO JUNE 2013

SUGAR M1.74%

OTHER COMMODITIES6.79%

TURMERIC3.53%

SOYA_OIL28.38%

SOYA_BEAN13.05%

CHANA11.77%

CASTOR_SEED9.57%

R/M_SEED8.47%

DHANIYA6.66%

COTTON_CAKE6.29%

JEERA3.74%

SOYA_OIL SOYA_BEAN CHANA CASTOR_SEED

R/M_SEED DHANIYA COTTON_CAKE JEERA

TURMERIC SUGAR M OTHER COMMODITIES

625

650

675

700

725

750

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹P

ER

10

KG

SPOT & FUTURES PRICES OF SOY OIL TRADED AT NCDEX

SPOT Apr-13 May-13 Jun-13 Jul-13

Aug-13 Sep-13 Oct-13 Nov-13

8

SOYA BEAN

CHANA

CASTOR SEED

31003250340035503700385040004150

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF SOY BEEN TRADED AT NCDEX

SPOT Apr-13 May-13 Jun-13

Jul-13 Oct-13 Nov-13 Dec-13

3000

3200

3400

3600

3800

4000

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF CHANA TRADED AT NCDEX


Jul-13 Aug-13 Sep-13 Oct-13

3000

3200

3400

3600

3800

4000

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF CASTOR SEED TRADED AT NCDEX



9

R/M SEED

DHANIYA

COTTONSEED OILCAKE

3300

3450

3600

3750

3900

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF R/M SEED TRADED AT NCDEX



640066006800700072007400760078008000

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF DHANIYA TRADED AT NCDEX

SPOT Apr-13 May-13 Jun-13Jul-13 Aug-13 Sep-13 Oct-13

1350

1450

1550

1650

1750

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF COTTON SEED OIL CAKE TRADED AT NCDEX


Jul-13 Aug-13 Sep-13 Dec-13

10

JEERA

TURMERIC

SUGAR M

12500

13000

13500

14000

14500

15000

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF JEERA TRADED AT NCDEX

SPOT Apr-13 May-13 Jun-13Jul-13 Aug-13 Sep-13 Oct-13

5250

5750

6250

6750

7250

7750

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF TURMERIC TRADED AT NCDEX



2800

2900

3000

3100

3200

3300

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF SUGAR M TRADED AT NCDEX

SPOT Apr-13 May-13 Jun-13 Jul-13

Aug-13 Sep-13 Oct-13 Nov-13 Dec-13

III. National Multi Commodity

During the period under review

constituted a major share of the value of commodities traded at the NMCE, Ahmedabad

The following table indicates the

Ahmedabad during the period under review.

Commodities

GOLD

RAW JUTE

COFFEE REP BULK

NICKEL

COPPER

Total of Major Commodities

Others Commodities

Total

Graphical presentation of ready and future

Jute, Coffee Rep Bulk, Nickel and Copper at NMCE, Ahmedabad during the period under review is

given below.

11

National Multi Commodity Exchange, Ahmedabad (NMCE)

During the period under review, Gold, Raw Jute, Coffee Rep Bulk, Nickel

a major share of the value of commodities traded at the NMCE, Ahmedabad

The following table indicates the percentage share of major commodities traded at NMCE,

Ahmedabad during the period under review.

Commodities Total Value in ₹.crore


4048.82 10.09

3521.68

3348.59

3287.06

2960.06

Total of Major Commodities 17166.21 42.77

22974.06 57.23

40140.27 100.00

Graphical presentation of ready and futures prices of five major commodities


offee Rep Bulk, Nickel and Copper

a major share of the value of commodities traded at the NMCE, Ahmedabad

share of major commodities traded at NMCE,

% share to the total value 10.09

8.77

8.34

8.19

7.37

42.77

57.23

100.00

major commodities viz., Gold, Raw


12

GOLD

RAW JUTE

COFFEE REP BULK

25000260002700028000290003000031000

06-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

04-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

01-J

un-1

3

08-J

un-1

3

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ p

er 1

0 G

M

Spot and futures prices of Gold at NMCE, Ahmedabad

Spot Apr-13 May-13 Jun-13 Jul-13 Aug-13

2700.002800.002900.003000.003100.003200.00

06-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

04-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

01-J

un-1

3

08-J

un-1

3

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ p

er 1

00 K

G

Spot and futures prices of Raw Jute at NMCE, Ahmedabad.


11800.00

12000.00

12200.00

12400.00

12600.00

12800.00

13000.00

13200.00

06

-Ap

r-1

3

13

-Ap

r-1

3

20

-Ap

r-1

3

27

-Ap

r-1

3

04

-Ma

y-1

3

11

-Ma

y-1

3

18

-Ma

y-1

3

25

-Ma

y-1

3

01

-Ju

n-1

3

08

-Ju

n-1

3

15

-Ju

n-1

3

22

-Ju

n-1

3

29

-Ju

n-1

3

₹p

er

10

0 K

g

Spot and futures prices of Coffee Rep Bulk at NMCE., Ahmedabad.

Spot May-13 Jul-13 Sep-13 Jul-12

13

NICKEL

COPPER

IV. Indian Commodity Exchange, Mumbai (ICEX)

During the period under review, Natural Gas, Silver, Soya Oil, Crude Oil, Copper, Gold &

Lead constituted a major share of the value of commodities traded at the ICEX, Mumbai. The

following table indicates the percentage share of major commodities traded at ICEX, Mumbai during

the period under review.



Natural Gas 8631.12 23.35 Silver 6111.48 16.54 Soya Oil 5370.39 14.53 Crude Oil 4252.38 11.51 Copper 4145.98 11.22 Gold 3140.90 8.50 Lead 2614.72 7.08 Total of major commodities 34266.97 92.72 Other commodities 2689.80 7.28 Total 36956.77 100.00

Note: Natural Gas volumes are not included in the Total Volume

800.00

820.00

840.00

860.00

880.00

900.000

6-A

pr-

13

13

-Ap

r-1

3

20

-Ap

r-1

3

27

-Ap

r-1

3

04

-Ma

y-1

3

11

-Ma

y-1

3

18

-Ma

y-1

3

25

-Ma

y-1

3

01

-Ju

n-1

3

08

-Ju

n-1

3

15

-Ju

n-1

3

22

-Ju

n-1

3

29

-Ju

n-1

3

₹ P

er

1 K

g

Spot and futures prices of Nickel at NMCE,Ahmedabad


370.00

390.00

410.00

430.00

06

-Ap

r-1

3

13

-Ap

r-1

3

20

-Ap

r-1

3

27

-Ap

r-1

3

04

-Ma

y-1

3

11

-Ma

y-1

3

18

-Ma

y-1

3

25

-Ma

y-1

3

01

-Ju

n-1

3

08

-Ju

n-1

3

15

-Ju

n-1

3

22

-Ju

n-1

3

29

-Ju

n-1

3

₹ p

er

1 K

g

Spot and futures prices of Copper at NMCE,Ahmedabad

Spot Apr-13 Jun-13 Aug-13 Nov-13

14

Graphical presentation of ready and futures prices of seven major commodities viz. Natural Gas,

Silver, Soya Oil, Crude Oil, Copper, Gold & Lead at ICEX, Mumbai during the period under review is

given below.

NATURAL GAS

SILVER

PERCENTAGE SHARE OF THE VALUE OF THE COMMODITIES TRADED AT ICEX,MUMBAI DURING APRIL 2013 TO JUNE 2013

OTHER COMMODITIES7.28%

LEAD7.08%GOLD

8.50%

COPPER11.22%

CRUDEOIL11.51%

SOYA OIL14.53%

SILVER16.54%

NATURAL GAS23.35%

NATURAL GAS SILVER SOYA OIL CRUDEOIL COPPER GOLD LEAD OTHER COMMODITIES

210

220

230

240

250

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 m

mB

tu

SPOT & FUTURES PRICES OF NATURAL GAS TRADED AT ICEX,MUMBAI


26-Jul-13 27-Aug-13 25-Sep-13

37500400004250045000475005000052500

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF SILVER TRADED AT ICEX,MUMBAI

Ready Prices 2-May-13 1-Jul-13 2-Sep-13 2-Dec-13

15

SOYA OIL

CRUDE OIL

COPPER

650

675

700

725

750

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ .P

ER

10

KG

SPOT & FUTURES PRICES OF SOYA OIL TRADED AT ICEX,MUMBAI


19-Jul-13 20-Aug-13 20-Sep-13

4700490051005300550057005900

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 B

BL

SPOT & FUTURES PRICES OF CRUDE OIL TRADED AT ICEX,MUMBAI


19-Jul-13 19-Aug-13 19-Sep-13

370

380

390

400

410

420

430

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF COPPER TRADED AT ICEX,MUMBAI

Ready Prices 30-Apr-13 28-Jun-13 30-Aug-13 29-Nov-13

16

GOLD

LEAD

V. ACE Commodities and Derivatives Exchange, Mumbai (ACE)

During the period under review, Ref Soy Oil, Cotton 118, Soya Bean & RBD constituted a major share

of the value of commodities traded at the ACE, Mumbai.

The following table indicates the percentage share of major commodities traded at ACE, Mumbai




REFSOYOIL 13143.66 70.94 COTTON118 2801.08 15.12 SOYBEAN 1463.65 7.90 RBD 746.17 4.03 Total of major commodities 18154.56 97.99 Other commodities 372.33 2.01 Total 18526.89 100.00

2475025500262502700027750285002925030000

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

10

GM

SSPOT & FUTURES PRICES OF GOLD TRADED AT ICEX,MUMBAI

Ready Prices 3-Jun-13 1-Aug-13 1-Oct-13 2-Dec-13

105

110

115

120

125

130

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

1 K

G

SPOT & FUTURES PRICES OF LEAD TRADED AT ICEX,MUMBAI


31-Jul-13 30-Aug-13 30-Sep-13 31-Oct-13

17

Graphical presentation of ready and futures prices of four major commodities viz., Refined Soy

Oil, Cotton 118, Soya Bean & RBD at ACE, Mumbai during the period under review is given as

follows:

REF SOY OIL

COTTON 118

PERCENTAGE SHARE OF THE VALUE OF THE COMMODITIES TRADED AT ACE, MUMBAI DURING APRIL 2013 TO JUNE 2013

REFSOYOIL70.94%

COTTON11815.12%

SOYBEAN7.90%

RBD4.03%

OTHER COMMODITIES

2.01%

REFSOYOIL COTTON118 SOYBEAN RBD OTHER COMMODITIES

625

650

675

700

725

750

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

10

KG

SPOT & FUTURES PRICES OF SOY OIL TRADED AT ACE, MUMBAI

Ready Prices 18-Apr-13 20-May-13 20-Jun-13 19-Jul-13

20-Aug-13 20-Sep-13 18-Oct-13 20-Nov-13

36500375003850039500405004150042500

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

CA

ND

Y

SPOT & FUTURES PRICES OF COTTON118 TRADED AT ACE, MUMBAI


19-Jul-13 18-Oct-13 20-Nov-13

18

SOYA BEAN

RBD PALMOLEIN

VI. Universal Commodity Exchange Ltd., Navi Mumbai (UCX)

During the period under review, Kilo Gold, Silver-30, Crude oil, Gold Nano & Ref Soy oil constituted a

major share of the value of commodities traded at the UCX, Navi Mumbai

The following table indicates the percentage share of major commodities traded at UCX, Navi Mumbai


Commodities Total Value in ₹ Crore


KILO GOLD 11917.52 51.02 SILVER-30 6448.05 27.61 CRUDE OIL 2491.01 10.66 GOLD NANO 556.47 2.38 REF SOY OIL 504.11 2.16 Total of major commodities 21917.16 93.83 Other commodities 1440.46 6.17 Total 23357.63 100.00

3000

3250

3500

3750

4000

4250

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

100

KG

SPOT & FUTURES PRICES OF SOYA BEAN TRADED AT ACE, MUMBAI


19-Jul-13 18-Oct-13 20-Nov-13 20-Dec-13

490500510520530540550

6-A

pr-1

3

13-A

pr-1

3

20-A

pr-1

3

27-A

pr-1

3

4-M

ay-1

3

11-M

ay-1

3

18-M

ay-1

3

25-M

ay-1

3

1-Ju

n-13

8-Ju

n-13

15-J

un-1

3

22-J

un-1

3

29-J

un-1

3

₹ P

ER

10

KG

SPOT & FUTURES PRICES OF RBD TRADED AT ACE, MUMBAI


31-Jul-13 30-Aug-13 30-Sep-13

Graphical presentation of ready and future

Silver-30, Crude oil, Gold Nano & Ref Soy oil

given below.

Silver 30

27.61%

Crude oil

10.66%

Goldnano

2.38%

Ref Soy oil

2.16%

PERCENTAGE SHARE TO THE TOTAL VALUE OF THE COMMODI TIES TRADED

Kilo gold Silver 30

25500.00

26000.00

26500.00

27000.00

27500.00

28000.00

28500.00

20

-Ap

r-1

3

27

-Ap

r-1

3

₹ p

er

10

G

M

Spot and futures prices of Kilo Gold at UCX., New Mumbai

Spot

40000.00

42000.00

44000.00

46000.00

48000.00

20

-Ap

r-1

3

27

-Ap

r-1

3

04

-Ma

y-1

3

₹ p

er

1 K

G

Spot and futures prices of Silver at UCX., New Mumbai

19

Graphical presentation of ready and futures prices of five major commodities

30, Crude oil, Gold Nano & Ref Soy oil at UCX, Navi Mumbai during the period under review is

KILO GOLD

SILVER-30

Kilo gold

51.02%

Ref Soy oil

2.16%

Others

6.17%

PERCENTAGE SHARE TO THE TOTAL VALUE OF THE COMMODI TIES TRADEDAT UCX., NEW MUMBAI

DURING APRIL 2013 TO JUNE 2013

Silver 30 Crude oil Goldnano Ref Soy oil Others

04

-Ma

y-1

3

11

-Ma

y-1

3

18

-Ma

y-1

3

25

-Ma

y-1

3

01

-Ju

n-1

3

08

-Ju

n-1

3

15

-Ju

n-1

3

Spot and futures prices of Kilo Gold at UCX., New Mumbai

Spot May-13 Jul-13 Sep-13

04

-Ma

y-1

3

11

-Ma

y-1

3

18

-Ma

y-1

3

25

-Ma

y-1

3

01

-Ju

n-1

3

08

-Ju

n-1

3

15

-Ju

n-1

3


Spot Jun-13 Aug-13

prices of five major commodities viz., Kilo Gold,

during the period under review is

PERCENTAGE SHARE TO THE TOTAL VALUE OF THE COMMODI TIES TRADED

Others

22

-Ju

n-1

3

29

-Ju

n-1

3

22

-Ju

n-1

3

29

-Ju

n-1

3


20

CRUDE OIL

3. IMPORTANT DEVELOPMENTS IN THE COMMODITY MARK ETS

3.1 Regulation of Commodity Exchanges:

(a) Approval for renewal or grant of recognition to the Commodity Ex changes:

• The Ministry of Consumer Affairs, Food and Public Distribution conveyed its approval for the

renewal of recognition of Vijai Beopar Chamber Ltd, Muzaffarnagar in respect of forward

contracts in Gur for a period of one year from 1.04.2013 to 31.03.2014 (both days inclusive).

• The Ministry of Consumer Affairs, Food and Public Distribution, on 13th June, 2013 conveyed its

approval for renewal of the recognition to the First Commodity Exchange of India Ltd (FCEI),

Kochi for conducting forward trading in Coconut Oil and Copra for a period of one year from

1.06.2013 to 31.05.2014 (both days inclusive).

(b) Renewal of registration of the recognized Excha nges:

• The Commission on 10th April, 2013, renewed the registration of Vijai Beopar Chamber Ltd,

Muzaffarnagar in respect of forward contracts in Gur for a period of one year from 1st April,

2013 to 31st March, 2014 (both days inclusive).

• The Commission on 15th May 2013 renewed the registration of Bikaner Commodity Exchange

Ltd, Bikaner in respect of forward contracts in Guar Seed for a period of one year from 1st April

2013 to 31st March, 2014 (both days inclusive).

4600.004800.005000.005200.005400.005600.005800.006000.00

20

-Ap

r-1

3

27

-Ap

r-1

3

04

-Ma

y-1

3

11

-Ma

y-1

3

18

-Ma

y-1

3

25

-Ma

y-1

3

01

-Ju

n-1

3

08

-Ju

n-1

3

15

-Ju

n-1

3

22

-Ju

n-1

3

29

-Ju

n-1

3

₹p

er

1 B

BL

Spot and futures prices of Crude oil at UCX., New Mumbai

Spot Jun-13 Jul-13 Aug-13

21

• The Commission, on 28th June, 2013 renewed the registration of First Commodities Exchange

of India Ltd., Kochi in respect of forward contracts in Coconut Oil and Copra for the period of

one year from 1st June, 2013 to 31st May, 2014 (both days inclusive).

(c) Approval of amendment to bye-laws:

• The Commission on 20th May 2013 and 30th May, 2013 approved the amendments to the Bye-

laws of the NCDEX, Mumbai and ACE, Mumbai respectively relating to the regulatory

framework for market access through Authorized Person in the commodity futures markets.

(d) Extension of time period for compliance with t he equity structure of the Exchange

• The Commission, on 2nd April, 2013 communicated to the NMCE Ahmedabad the decision of

the Ministry of Consumer Affairs, Food and Public Distribution to keep the matter regarding

extension of time period for compliance with the equity structure of the Exchange in abeyance

till the final outcome of the court case in respect of the Exchange which is pending in the

Hon’ble Supreme Court.

(e) Prevention of Money Laundering (Amendment) Bill 2011

• The Commission, on 10th April, 2013 informed all the National level Exchanges that as per the

Prevention of Money Laundering (Amendment) Bill 2011 passed by the Parliament in 2012, the

commodity Exchanges as well as the members of the commodity Exchanges have been

brought under the ambit of the PMLA w.e.f. 1.2.2013. The Exchanges have been directed to

take necessary action for ensuring compliance with the provisions of the PMLA, 2012.

(f) Investor Protection Fund (IPF)

• The Commission, on 10th April, 2013 directed the National Commodity Exchanges to provide

details of the Schedule of the investments in respect of IPF.

3.2 (a) Appointment of Independent Directors on th e Board of the national multi commodity

Exchanges;

During the quarter, the Commission appointed the following persons as Independent Directors

on the Board of the national multi commodity Exchanges under section 6 (2) (b) of the FCR

Act, 1952.

Sr. No.

Name of the Exchange Name of the Independent Director

Period of Appointment

1 National Multi Commodity Exchange of India Ltd.,(NMCE), Ahmedabad

Shri Paul Joseph (IES Retd.)

23/04/2013 up to 31/03/2016

2 National Multi Commodity Exchange of India Ltd.,(NMCE), Ahmedabad

Shri P. K. Laheri (IAS Retd.)

01/05/2013 up to 27/03/2015

22

Sr. No.

Name of the Exchange Name of the Independent Director

Period of Appointment

3 Universal Commodity Exchange Ltd., (UCX), Navi Mumbai

Ms.Neela Gangadharan, IAS (Retd.)

03/05/2013 up to 31/03/2016


Shri A. Ramkrishnan, IAS (Retd.)

03/05/2013 up to 31/03/2016

5 ACE Derivatives and Commodity Exchange Ltd., Ahmedabad

Shri Vijay Sardana, Head –Food Security & Agribusiness

20/05/2013 up to 31/03/2016


Shri Devdas Chhotray, IAS (Retd)

20/05/2013 up to 31/03/2016

(b) Re-Appointment of Managing Director & Chief Executi ve Officer of the National Multi-

Commodity Exchange of India Ltd. (NMCE), Ahmedabad

The Commission, on 3rd April, 2013, approved the appointment of Mr. Anil Kumar Mishra, as

the Managing Director & Chief Executive Officer of the National Multi-Commodity Exchange of India

Ltd. (NMCE), Ahmedabad subject to specified conditions, for a period from 10th April, 2013 to 8th

February, 2015 or till further orders whichever is earlier.

(c) Guidelines regarding Constitution of the Board of Directors, Nomination of Independent

Directors and appointment of Chief Executives at th e Nation-wide Multi Commodity

Exchanges

The Commission had issued several circulars and guidelines in the past regarding Constitution

of the Board of Directors, Nomination of Independent Directors and appointment of Chief Executives

at the Nation-wide Multi Commodity Exchanges. These circulars and guidelines have been

consolidated and revised guidelines were issued on 17th May, 2013 to strengthen the corporate

governance practices at the Nation-wide Multi Commodity Exchanges and also to provide greater

clarity to the role of Independent Directors in line with the provisions of the Companies Act and best

practices followed in the Indian Capital Markets. This will also help in doing away with the possible

conflict of interest between Independent Directors and promoters of Exchanges, ensure greater

scrutiny of financial matters of Exchanges and stricter compliance with the regulations by the

Exchanges.

(d) Approved amendments of Bye-laws/Rules/IPF Trus t Deed

The Commission, on 14th May 2013, approved amendments of Bye-laws/Rules of IPF Trust

Deed of National Commodity Exchanges pertaining to the Investor Protection Fund (IPF) and the

clause relating to “threshold limits for claim on Investor Protection Fund” that the ceiling of ₹ 25.0

lakhs per defaulting member is increased to ₹ 2.0 Cr. so as to benefit the clients of the defaulting

members to a greater degree.

23

(e) Revised threshold limits

According to the revised threshold limits of ₹ 2.00 Cr. for claim on IPF, the Commission on 15th May 2013, conveyed approval to MCX and NCDEX for the compensation payable in respect of the claims against Bhavishya Advisory and Comtrade (I) Pvt. Ltd., to ₹ 2 .00 Cr. and the client level limit to be retained at ₹ 2 lakhs with full reimbursement of the claim of the client from IPF.

(f) Inspect the books of accounts of the Members

The Commission has been inspecting the books of accounts of the Members of the National Exchanges and Regional Exchanges on a regular basis. During the quarter, 53 audit reports were received from the Auditors, 46 audit reports were sent to Exchanges for follow up action on non-compliances observed and 3 audit reports were scrutinized.

3.3 Reviewed the initial margins

3.3.1 The Commission reviewed the initial margins on Sugar and Wheat contracts, which were fixed in August, 2012 at 10% of the value of the contract or VaR based margin whichever is higher. After reviewing the then price volatilities, volumes and open interest in the aforesaid commodities, the Commission reduced the initial margin on Sugar and Wheat to the previous level of 5% of the value of the contract or VaR based margin whichever is higher with effect from 13.5.2013.

3.3.2 a) The Commission reviewed the market situation and revised Special Margin/Additional rates as per details given below.

Sr. No

Commodity

Exchange

Date w. e. f

Special /Additional Margin imposed/

Withdrawn

Previous Margins applicable

Current rate of margin

Long Short Long Short Long Short

1 Soya bean

NCDEX, ACE

10th April, 2013

(+) 10%

Cash in the April 2013 contract

- - -

(+) 10%


-

NCDEX, ACE & UCX

30th April, 2013

(+) 10%

Cash in the May, 2013,

June 2013 & July 2013 contracts

-

(+) 10%

Cash in the April

2013 contract

-

(+) 10%



-

NCDEX, ACE & UCX

27th June, 2013

(-) 10%

Cash in the July 2013 contract

-

(+) 10%

Cash in the July

2013 contract

- - -

2 Soya meal

NCDEX, ACE

10th April, 2013

(+) 10%


- - -

(+) 10%


-

NCDEX, ACE & UCX

30th April, 2013

(+) 10%



-

(+) 10%

Cash in the April

2013 contract

-

(+) 10%



-

NCDEX, ACE & UCX

27th June, 2013

(-) 10%

Cash in the July 2013 contract

-

(+) 10%

Cash in the July

2013 contract

- - -

24

b) The Commission, on 6th May, 2013 removed additional margin of 15% in cash applicable on long and short open position of potato contracts at NCDEX and MCX, Mumbai effective from 7.5.2013.

c) The Commission, on 7th June, 2013 further removed 20% special margin in cash on potato contracts applicable on the long side at NCDEX and MCX, Mumbai effective from 10.6.2013.

d) The Commission, on 7th June, 2013 also reduced initial margin applicable on long and short side to potato contracts at MCX and NCDEX, Mumbai from 10% to 5% effective from 10.6.2013.

3.4 Attending to Client Complaints/Grievances

3.4.1 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, mis-utilisation of clients’

money etc. Such complaints are forwarded to the respective Exchanges for settling the

grievances of the clients expeditiously. During the period April to June, 2013, fifty eight (58)

complaints were received.

3.4.2 During April – June 2013, the Commission issued circulars to the National Exchanges

regarding (i) Investor Protection, (ii) SMS and Email alerts facility to clients, (iii) Quarterly

Settlement of Accounts of clients by the members and (iv) Charging of Arbitration Fees from

clients. The contents of the circulars, in brief, are as follows:

a. SMS alerts were made mandatory at all National Exchanges vide circular dated May 15, 2013.

The Exchanges were asked to send email alerts to all the clients, who have registered their

email addresses with the respective members, though email alerts are not made mandatory.

b. Quarterly Settlement of Accounts of clients by the members – the Commission issued circular

dated 20th May, 2013 informing that the members are not required to refund amounts below ₹

10,000/- to the clients for the purpose of quarterly settlement and specific dates were

mentioned for settlement. However, as representations were received from the members

relating to difficulties faced in the quarterly settlement of accounts of all the clients on specific

dates, it was conveyed, vide circular dated 25th June, 2013 that in respect of each client, the

time difference between two settlement should not be more than 90 days or in other words the

settlement should be done once in quarter and that such settlement need not be on a particular

date for all the clients of the member.

c. Charging of Arbitration fees from clients – The Commission has decided that in case of

deactivated or absconding members, who do not have sufficient fund in the Exchange to meet

the deposit /fees requirement in respect of arbitration filed by the client, the arbitration

deposit/fees may be paid by the Exchange which may be subsequently reimbursed from the

Investor Protection fund (IPF) of the Exchange. This would expedite resolution of disputes

between clients and deactivated/absconding members who are not having sufficient funds in

the exchange.

25

4. DEVELOPMENTAL ACTIVITIES

4.1 Awareness Programmes:

During the period under review, 193 awareness programmes were conducted across the

country. Out of 193 awareness programmes, 146 programmes were conducted for farmers and 47 for

other stakeholders. The details of awareness programmes organized during the period under review

is given in Annexure V.

4.2 Capacity Building Programme:

During April – June 2013, the Commission conducted one Capacity Building Programme for

students, research scholars, practitioners, bankers & faculty members of the university on 8-9th June,

2013 at University of Kashmir, Srinagar. The said programme was attended by 250 participants.

4.3 Meeting of Sub Committee of the Advisory Commit tee

• The second meeting of Sub Committee of the Advisory Committee was held on 23rd April, 2013

in the office of the Forward Markets Commission wherein the issues relating to the terms of

reference were discussed.

• The third meeting of Sub Committee of the Advisory Committee was held on 16th May, 2013 in

the office of the Forward Markets Commission wherein the issues relating to the terms of

reference were discussed. Based on the discussions held in the various meetings of the Sub-

Committee, the Report was finalized and was presented before the Advisory Committee on 30th

May, 2013

4.4 Stakeholders’ Meetings

The Commission in association with the National Exchanges organized Stakeholders’ Meetings

for various participants of the commodity futures markets as per details given below:-

Sr. No. Particulars Date Venue

1 Advisory Committee Meeting 30th May 2013 Mumbai,

Maharashtra

2 Members and Almond Contract

Stakeholders

10th June 2013 Srinagar,

Jammu-Kashmir

3 Warehousing Sector Stakeholders 8th July 2013 Jaipur,

Rajasthan

4.5 Foreign Visits:

A delegation led by Shri Pankaj Agrawala IAS, Secretary, Department of Consumer Affairs

along with Shri Ramesh Abhishek IAS, Chairman, FMC participated in the IOSCO-EMC Annual

Conference and Meeting at Panama City, Republic of Panama from 21.3.2013 to 23.3.2013

26

4.6 Price Dissemination Project:

The Price Dissemination Project encompasses the dissemination of spot and futures prices of

agricultural commodities in the local language on electronic price ticker boards placed at various

locations across the country where farmer footfall is heavy. During the period April, 2013 to June,

2013, GPRS based ticker Boards were installed under the Price Dissemination Project thereby

tackling the problem of non-availability of internet facilities at various locations. From April, 2013 to

June, 2013, 267 Price Ticker Boards were installed. Since the beginning of the project and till the end

of June, 2013 a total of 2130 Price Ticker Boards (GPRS and Non-GPRS) have been installed under

Price Dissemination Project in 28 States/Union Territories of the country. Exchange- wise details of

Price Ticker Boards installed are as below.

Exchange April May June Total

MCX 9 91 0 100

NCDEX 0 0 0 0

NMCE 87 0 0 87

ICEX 0 0 0 0

ACE 35 45 0 80

Total 131 136 0 267

4.7 Enforcement Action:

1) Complaints forwarded under Rule 13 of FC(R) Rules, 1954.

Sr.

No.

No. of complaints forwarded

under Rule 13 of the FCR

Rules 1954

State Police Authorities

1 1 Director General of Police, Gujarat

2) Assisted Police Authorities under rule 13 of FC (R) Rules, 1954.

Sr.

No. Date of Police Action Place of raid

1 02/04/2013 The office premises of Prashant Subalchand

Maji situated at Kalbadevi, Mumbai.

27

5. COURT CASES AND LEGAL MATTERS:

While discharging the regulatory functions, especially enforcement functions, the Commission has

been engaged in litigation with different parties/entities. The Commission and / or the Union of India

have been impleaded as respondent(s) in various court cases filed in the Supreme Court of India and

various High Courts / Tribunals. Significant / noteworthy developments in court cases during the

month of April to June, 2013 are given below:

i. The Writ Petition (Civil) No.7253 of 2013 filed by M/s. Sincere Commodities and Derivatives

Markets Limited vs. Union of India & others, before the Hon’ble Calcutta High Court against their

expulsion from the Membership of NMCE was dismissed on 9th April, 2013 on the ground of

jurisdiction.

ii. The Writ Petition (Civil) No.3621 of 2013 was filed on April 2013 by M/s. Betul Oils Ltd., vs. Union

of India and others before the Hon’ble Madhya Pradesh High Court at Indore Bench, against

clubbing of open positions. The Hon’ble High Court heard the case on 12th April, 2013 and

dismissed it at the admission stage.

iii. The Writ Petition (Civil) No.3661 of 2013 was filed on April 2013 by M/s. Kalimirch Vyapari

Association vs. NCDEX and others, before the Hon’ble Madhya Pradesh High Court at Indore

Bench, against delivery of black pepper and the case is pending.

iv. The Writ Petition (Civil) No.421 of 2013 was filed on April 2013 by M/s. Suryanarayan Vegoils

Limited vs. National Commodities and Derivatives Exchange Limited and others, before the

Hon’ble Bombay High Court. The matter is yet to be heard.

v. The Original Application No.389 of 2012 filed by S K Parida against Union of India and others,

before the Central Administrative Tribunal (CAT), Mumbai Bench seeking appointment to the post

of Assistant Director on deputation basis was heard on 1st April, 2013 and the Hon’ble Bench has

dismissed it.

vi. The Original Application No.124 of 2013 filed by S K Parida and three others against Union of

India and others, before the Central Administrative Tribunal (CAT), Mumbai Bench, seeking

appointment to the post of Assistant Directors on deputation basis was heard on 1st April, 2013

and the Hon’ble Bench has granted interim relief to the Applicants. The case is pending.

vii. The Writ Petition (Civil) No.582 of 2013 filed by M/s. Betul Oil Ltd vs. NCDEX & others, before the

Hon’ble M.P.High Court at Indore Bench in the matter relating to open position in Guar and Guar

gum was heard and dismissed on 17.05.2013.

28

ANNEXURE 1

LIST OF COMMODITIES NOTIFIED UNDER SECTION 15 OF THE F.C. (R.) ACT, 1952. Sl. No. Commodity

Sr. No. Commodity

(I) FOOD GRAINS AND PULSES II Oilseeds and Oils 1 Arhar Chuni 30 Cottonseed Oil 2 Bajra 31 Cottonseed Oilcake 3 Barley 32 CPO Refined 4 Gram 33 Crude Palm Oil 5 Gram Dal 34 Crude Palm Olive 6 Guar 35 Groundnut 7 Jowar 36 Groundnut Oil 8 Kulthi 37 Groundnut Oilcake 9 Lakh (Khesari) 38 Linseed 10 Maize 39 Linseed oil 11 Masur 40 Linseed Oilcake 12 Moth 41 Rapeseed Oil/Mustard Oil 13 Mung 42 Rapeseed Oilcake/ Mustard

seed Oilcake 14 Mung Chuni 43 Rapeseed/Mustard seed 15 Mung Dal 44 RBD Palmolein 16 Peas 45 Rice Bran 17 Ragi 46 Rice Bran Oil 18 Rice or Paddy 47 Rice Bran Oilcake 19 Small Millets (Kodan Kulti,

Kodra, Korra, Vargu, Sawan, Rala, Kakun, Samai, Vari & Banti)

48 Safflower

20 Tur Dal (Arhar Dal) 49 Safflower Oil 21 Tur(Arhar) 50 Safflower Oilcake 22 Urad (Mash) 51 Sesame (Til) 23 Urad dal 52 Sesame Oil 24 Wheat 53 Sesame Oilcake (II) OILSEEDS AND OILS

54 Soy meal

25 Celery seed 55 Soy Oil , 26 Copra Oil/Coconut Oil 56 Soybean 27 Copra Oilcake / Coconut

Oilcake 57 Sunflower Oil

28 Copra/ Coconut 58 Sunflower Oil cake 29 Copra oil cake/Coconut Oil 59 Sunflower Seed

III Spices (VI) OTHERS 60 Aniseed 88 Camphor 61 Betel nuts 89 Castor seed 62 Cardamom 90 Chara or Berseem (including

chara seed or berseem seed) 63 Chillies 91 Crude Oil 64 Cinnamon 92 Gram Husk (Gram Chilka) 65 Cloves 93 Gur 66 Coriander seed 94 Khandsari Sugar 67 Ginger 95 Polymer 68 Methi 96 Potato 69 Nutmegs 97 Rubber 70 Pepper 98 Seedlac 71 Turmeric 99 Shellac

29

Sl. No. Commodity

Sr. No. Commodity

IV METALS 100 Sugar 72 Copper 101 Furnace Oil 73 Zinc 102 Ethanol 74 Lead 103 Cooking Coal 75 Tin 104 Electricity 76 Gold 105 Natural Gas 77 Silver 106 Onion 78 Silver Coins 107 Carbon Credit (V) FIBRES AND

MANUFACTURES 108 Thermal coal

79 Art Silk Yarn 109 Methanol 80 Cotton Cloth 110 Melted Menthol Flakes 81 Cotton pods 111 Mentha Oil 82 Cotton Yarn 112 Menthol Crystals 83 Indian Cotton (Full pressed,

half pressed or loose) 113 Iron Ore

84 Jute goods (Hessian and Sackings and cloth and /or bags, twines and/or yarns manufactured by any of the mills and/or any other manufacturers of whatever nature made from jute)

85 Kapas 86 Raw Jute Including Mesta 87 Staple Fibre Yarn

30

ANNEXURE II

List of the Exchanges

Sl. No. Name of the Exchange s

A. National Multi Commodity Exchange s

1 Multi Commodity Exchange of India Ltd., Mumbai (MCX)

2 National Commodity & Derivatives Exchange Ltd., Mumbai (NCDEX)

3 ACE Derivatives and Commodity Exchange, Mumbai. (ACE)

4 National Multi Commodity Exchange of India Ltd., Ahmedabad (NMCE)

5 Indian Commodity Exchange Ltd., Mumbai (ICEX)

6 Universal Commodity Exchange Ltd (UCX), Mahape, Navi Mumbai

B. Commodity Specific Regional Exchanges

7 Bikaner Commodity Exchange Ltd, Bikaner

8 Bombay Commodity Exchange Ltd, Mumbai

9 Cotton Association of India, Mumbai

10 The Chamber of Commerce, Hapur

11 First Commodity Exchange of India Ltd, Kochi

12 India Pepper & Spice Trade Association, Kochi

13 National Board of Trade, Indore

14 Rajkot Commodity Exchange Ltd., Rajkot

15 Spices & Oilseeds Exchange Ltd, Sangli

16 Surendranagar Cotton Oil & Oilseeds Association Ltd, Surendranagar

17 Vijai Beopar Chamber Ltd., Muzaffarnagar

31

ANNEXURE III

Volume & Value of Trading in Various Commodities du ring the period April 2013 to June 2013

Sl. No Name of the Commodity Volume (In LT)

Value (In ₹crore)

I Agricultural Commodities Food Items 1 Chana/Gram 98.23 33393.71 2 Refined Soya oil 138.62 96547.82 3 Pepper 0.34 1206.33 4 Jeera (Cumin seed) 7.62 10173.92 5 Red Chilli 5.61 3380.13 6 Soya bean/seed 97.00 37241.02 7 Rape/Mustard Seed 79.52 27948.25 8 Wheat 4.83 742.15 9 Potato 8.82 823.28 10 Turmeric 15.77 9804.16 11 Sugar 15.66 4740.49 12 Gur 5.13 1658.53 13 Cardamom 0.47 3643.08 14 Maize Feed 22.85 3034.55 15 Barley 7.85 1075.51 16 Coffee Rep Bulk 2.69 3348.59 17 Coriander/Dhaniya 26.09 18114.27 18 Crude Palm Oil 24.04 11464.37 19 Copra 2.58 1214.68 20 Coconut oil 0.002 1.17 21 RBD palmolein 1.45 746.17 (A) Total of Above 565.18 270302.18 Non Food Items 22 Guar seed 5.62 4073.93 23 Mentha Oil 1.54 15144.60 24 Castor seed 84.74 29597.63 25 Guar Gum 0.99 2164.83 26 Kapas 9.87 4824.79 27 Rubber 1.45 2405.53 28 Raw jute 12.01 3521.68 29 Cotton seed Oilcake / Kapasia Khali 120.82 18644.70 30 Sacking 2.77 1462.94 31 Isabgul Seed 3.43 2300.89 32 Cotton 11.66 12908.05 33 Almond 0.0001 0.53 34 Soymeal 1.06 358.92 (B) Total of Above 255.97 97409.01 (A+ B) Total Agri-Commodities 821.15 367711.19 II Bullion 1 Gold 0.04 1111712.02 2 Silver 1.85 826836.63 3 Platinum 0.00 0.00 Total of Above 1.89 1938548.66 III Metals 445.78 793213.18 IV Energy (excluding Natural gas volume ) 2058.93 1045990.43 Grant Total (I to IV) (excluding Natural gas volume ) 3327.74 4145463.46

32

ANNEXURE IV

Details of permissions granted to the Recognized Ex changes :

Sl. No.

Name of the Exchange

Commodities permitted

Contracts permitted Date of permission

1 ICEX, Mumbai Silver 30 kg July to December, 2013 25th April, 2013 2 Silver 5 Kg

3 Crude oil 4 Gold 100gm 5 Lead 6 Natural Gas 7 Iron Ore 62 fine 8 Refined Soy Oil 9 Mustard Seed 10 MCX,

Mumbai Guar seed June, July, October and

November, 2013 13th May, 2013 11 Guar gum

12 Cardamom October to December, 2013 5th June, 2013

13 Copper February 2014 and April 2014 28th June, 2013 14 Copper mini February 2014 and April 2014

15 Gold February 2014, April 2014, June 2014 and August, 2014

16 Silver March 2014, May 2014 and July 2014

17 Silver mini February 2014, April 2014 and June 2014

18 Silver micro February 2014 and April 2014 19 NMCE,

Ahnedabad Pepper July to December, 2013 5th June,

2013 20 NCDEX,

Mumbai Guar seed June 2013, July 2013, October

2013 & November 2013 13th May2013

21 Guar gum June 2013, July 2013, October 2013 & November 2013

13th July 2013

22 ACE, Mumbai

Guar seed June 2013, July 2013, October 2013 & November 2013

17th May 2013

23 Guar gum June 2013, July 2013, October 2013 & November 2013

17th May 2013

24 Cotton Oct’ 2013, November 2013, December 2013,January 2014, February 2014 & March 2014

19th June 2013

25 UCX, Navi Mumbai

Rubber RSS4 June 2013, July 2013, August 2013, Sept’ 2013, October 2013, Nov’ 2013 & Dec’ 2013

10th April,2013

26 Chana June 2013, July 2013, Aug’ 2013, Sept’ 2013, Oct’ 2013, Nov’ 2013 & Dec’ 2013

10th April,2013

27 Mustard seed June 2013, July 2013, Aug’ 2013, Sept’ 2013, Oct’ 2013, Nov’ 2013 & Dec’ 2013

10th April,2013

28 Soya bean June 2013, July 2013, Aug’ 2013, Oct’ 2013, Nov’ 2013 & Dec’ 2013

10th April,2013

29 Refined Soy oil June 2013, July 2013, August 2013, September2013, October 2013, Nov’ 2013 & Dec’ 2013

10th April,2013

30 Crude oil 19th June 2013, 19th July 2013, 19th Aug’ 2013, 19th Sept’ 2013,

10th April,2013

33

Sl. No.

Name of the Exchange

Commodities permitted

Contracts permitted Date of permission

21st Oct’ 2013, 19th Nov’ 2013 & 18th Dec’ 2013

31 Turmeric June 2013, July 2013, August 2013, Sept 2013, Oct 2013, Nov 2013, Dec 2013

16th April,2013

32 Gold (1kg) May 2013, July 2013, Sept 2013, Nov 2013

16th April,2013

33 Gold (Nano 100 gms)

June 2013, July 2013, August 2013, Sept 2013, Oct 2013, Nov 2013, Dec 2013

16th April,2013

34 Silver 30 kg June 2013,Aug 2013,Nov 2013 16th April,2013

35 Silver Nano (5 kg)

June 2013, July 2013, Aug 2013, Sept 2013, Oct 2013, Nov 2013, Dec 2013.

16th April,2013

36 VBC, Muzaffarnagar

Gur July 2013 15th April 2013

37 Gur December 2013 6th June 2013

38 FCEI, Kochi Coconut oil August 2013, September 2013, October 2013 and Nov’ 2013

15th April 2013

39 IPSTA, Kochi Pepper-MG 1 July 2013, Aug’ 2013, Sept’ 2013, Oct’ 2013, Nov’ 2013 and Dec’ 2013

15th May 2013

40 BCEL, Bikaner Guar seed July 2013 and October 2013 17th May 2013

41 Gram August 2013 18th June 2013

42 NBOT, Indore Soya oil Oct’ 2013, Nov’ 2013, Dec’ 2013, Jan’ 2014 and Feb’ 2014

21st June 2013

43 Soya meal Aug’ 2013, Sept’ 2013, Oct’ 2013, Nov’ 2013, Dec’ 2013, Jan’ 2014 and Feb’ 2014

44 Soya bean Aug’ 2013, Oct’ 2013, Nov’ 2013, Dec’ 2013, Jan’ 2014 and Feb’ 2014

34

ANNEXURE V

State-wise details of awareness programmes for the period from April 2013 to June, 2013

Names of States April 2013 to June 2013

Farmers Others Total

Andhra Pradesh 5 3 8

Arunachal Pradesh -- -- --

Assam -- -- --

Bihar -- 3 4

Chandigarh -- -- --

Chhattisgarh -- -- --

Daman & Diu -- -- --

Goa -- -- --

Gujarat 73 7 80

Haryana 1 1 2

Himachal Pradesh 2 -- 2

Jammu & Kashmir -- -- --

Jharkhand -- -- --

Karnataka -- 9 9

Kerala 1 -- 1

Madhya Pradesh -- -- --

Maharashtra 31 9 40

Manipur -- -- --

Meghalaya -- -- --

Mizoram -- -- --

Nagaland -- -- --

New Delhi -- 1 1

Odisha -- 1 1

Pondicherry -- -- --

Punjab -- 1 1

Rajasthan 9 4 13

Sikkim -- -- --

Tamil Nadu 1 3 4

Tripura -- -- --

UT of Andaman -- -- --

Uttar Pradesh 23 -- 23

Uttaranchal -- -- --

West Bengal - 5 5 TOTAL 146 47 193

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