NCDEX signs MoU with IPGA

Key focus of pact is to boost trade efficiencies & price discovery, and put India on world map of pulses and grains

NCDEX, the leading futures exchange in agri commodities and ferrous metals in India, on Thursday signed a memorandum of understanding (MoU) with India Pulses and Grains Association (IPGA). They will collaborate for on trade tools, including the lifting of trading restrictions through continuous dialogue with regulators and policy makers.

The MoU was signed during the Pulses Conference 2014 in Goa, attended by the trade fraternity, including members of  IPGA.

As part of the MoU, key initiatives to be undertaken would include facilitating measures to increase trade efficiency and price discovery in pulses and grains, joint training workshops on hedging to be conducted for members, research studies including trend analysis, crop surveys and field studies aimed at recommending solutions to overcome  challenges faced by the industry and efforts  to educate stakeholders about the benefits of the online spot platform of the exchange.

“Over the last ten years, NCDEX has contributed to the development of primary and derivatives markets in India. With regards to this, once again, we take an initiative to promote the pulses production and trade in India by joining hands with IPGA, an apex body, to closely work and find out improved and industry- friendly solutions. India being the largest producer as well as importer and consumer of pulses, is yet to achieve self-sufficiency in it. Hence, this co-ordinated effort will help us achieve success in developing a market for pulses and grains,” said Samir Shah, MD & CEO, NCDEX.

 
Praveen Dongre, Chairman, IPGA said, “The MoU that IPGA and NCDEX have signed is the beginning of a series of promotional initiatives aimed at improving market efficiency and infusing global competitiveness in Indian pulses and grains. NSPOT has demonstrated the tremendous success of this public private partnership initiative in Karnataka as E-mandis and e-auctioning has transformed the trade in pulses.”