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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

26/09/2002

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

India proposes futures trading in palm oil
09/07/2002 (Financial Times - Asia Intelligence Wire) - The Government ofIndia proposes to lift restrictions on futures trading in crude palm oil.Now, the Government has banned futures trading in 81 commodities.The lifting of curbs on futures trading in crude palm oil enablesarbitrage between the 2 exchanges, thereby improving the scope forco-operation between the 2 exchanges. The Malaysian Derivatives Exchangehandles about 1,25,000 tonnes per day of the commodity (crude palm oil).India accounts for about 40-50 percent foreign participation in theMalaysian Derivatives Exchange. The prominence for crude palm oil willincrease, as the gap in the differential tariffs between crude palm oiland soybean oil is narrowed. The fixation of basic import price by Indiawill have a positive impact on crude palm oil price.