Disclaimer: This Yearbook is being made available for the limited purpose of creating awareness about commodity derivatives

and related markets and is not

intended as a professional counsel or investment advice and should not be used as such. Every effort has been made to ensure high quality and accuracy of the
contents in the Yearbook. However, under no circumstances, NISM or MCX or their employees or the MCX IPF Trust shall be liable to any user for unintended
and/or accidental errors. Users and readers may carry out due diligence before using any data and information herein; or MCXIPF Trust will not be responsible
for any discrepancy and/or dispute arising out of such use. Data provided in the Yearbook was collated and compiled during the period July to Sept ember 2019
as available during that period from various sources and hence, they may not reflect subsequent changes and revisions. The opinions and views expressed and
shared by the authors are those of only the authors and do not necessarily reflect those of NISM or MCX or the organizations/companies/institutions they bear
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All rights reserved. No part of this publication may be reproduced, or transmitted in any form, or by any means – electronic, photocopying, recording, scanning, or
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COMMODITY
INSIGHTS
Y E A R B O O K 2 0 1 9
Contents
Foreword

Preface

I. INDIAN COMMODITY DERIVATIVES MARKETS REGAINING GROWTH MOMENTUM 03

II. EMERGING TRENDS 09

1. Potential Role of Banks in the Development of Commodity markets –
Dr. V.R. Narasimhan and Dr. Pradiptarathi Panda 10

2. Perspectives on Growth and Development of Regulated Warehousing

in India – Dr. R.K. Tripathi 17

3. EFEs in Commodity Derivatives Markets – Opportunities, Challenges and

Way Forward - Mr. Srinivasa Moorthy N and Mr. Srivatsava Ganapathy 27

4. Electronic commodity spot markets: Potential, design,

and integration – Mr. Kushankur Dey 33

5. Towards Efficient Risk Management in Base Metals - Prof. Joshy Jacob 41

6. Feasibility of Transparent Price Discovery in Tea through

Auction in India - Dr. Diganta Mukherjee, Mr. Abhinandan Dalal
and Mr. Subhrajyoty Roy 45

7. Commodities as an Asset Class - A SWOT analysis of gold -

Dan Smith, CFA 54

III. STATISTICS 58
Key Economic Indicators

Non-agricultural commodities 73
• Precious Metals – Gold & Silver 76
• Base Metals – Copper, Lead, Nickel, Zinc & Aluminium 92
• Energy Commodities– Crude Oil & Natural Gas 120

Agricultural commodities 134

• Cotton 136
• Oilseeds complex – CPO & Castor Seed 144
• Spices – Cardamom, Mentha Oil, Pepper 154

(Enclosed CD contains electronic copy of this book along with past 5-year trade data of major commodity derivatives.)
(Electronic copy of the yearbook is also available at https://www.mcxindia.com/education-training/publications/commodity
insightsyearbook)
COMMODITY INSIGHTS YEARBOOK 2019
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