Commodity markets have their presence in country for over 120 years. Some of major commodities in India are-Silver, Gold, Copper, Spices among the few.
Major Commodities Exchange in India are:
It is a state of art electronic commodity futures exchange. It provides facility to Government of India for online trading, settlement and clearing operations for commodity futures across the country. MCX has been certified to ISO standards including ISO 9001:2008 Quality Management System standard, ISO 14001:2004 Environmental Management.
It is on-line multi commodity exchange managed by professionally. The shareholders of NCDEX comprises large number of national level institutions and large number of public sector bank and companies.
The prices of the commodities that are traded in the commodity market have their prices already predetermined with the help of commodity trading exchange. However the prices of these commodities are determined depending on the market conditions.
The main reason for increasing prices is the supply of the commodities is much lower than the actual demand. The main purpose of commodity markets is to have an organized market place where all the members can freely buy or sell commodities in which they are interested.