| "Following a comprehensive research on the trading prospects of crude palm oil, MCX has already applied for a licence to the Forward Markets Commission and is hopeful of getting the licence soon", a senior official of MCX said. |
| MCX, which boasts of a trading portfolio of over 60 commodities, had recently got approval for trading in tin. |
| This apart, MCX will have a substantial stake in the proposed power exchange which is slated to be operationalised by the first quarter of the next fiscal, claimed Arindam Saha, vice-president for business development at MCX. |
| The proposal to set up a power exchange has already got the approval of the Central Electricity Regulatory Commission (CERC). |
| MCX also planned to set up a commodity exchange in Mauritius. |
| Saha said, "MCX and the government of Mauritius have signed an agreement with the stock exchange of Mauritius for setting up a commodity exchange in that country". |
| MCX would hold 50 per cent stake in the commodity exchange while the remaining stake would be held by the stock exchange of Mauritius and some banks as well as financial institutions of Mauritius. |
| The commodity exchange of Mauritius was expected to be functional by the end of 2008. MCX already ran one commodity exchange in Dubai. |
| Talking on the amendment to the Agriculture Produce Marketing Committee (APMC) Act, which had been held up by many states, Saha claimed that the amendment would ensure better price realisation to farmers and also boost trading volumes at MCX. |
| At present, the farmers received only 25-30 per cent of the price paid by end users and the balance amount went to intermediaries, Saha alleged. |
| MCX reported average daily turnover of over Rs 10,000 crore. |
| It was investing in supply chain management and aimed to lease warehouses and cold storages where feasible and invest in building or buying them in the near future. |
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