A STUDY ON EXISTING LITERATURE OF COMMODITY MARKET
Keywords:
Commodity market, Commodity Exchanges, Speculation, Forward Market Commission, Commodity FuturesAbstract
India, a commodity based economy where two-third of the one billion population depends on agricultural commodities, surprisingly has an under developed commodity and commodity futures market. This is so because the trades in the commodity futures market were banned for almost four decades in India. There must be reasons for and against such ban but one thing it has done is to paralyze the research and knowledge creation in the domain and more so in the Indian context. The proposed research paper is conceived with an idea to understand the importance of commodity derivatives and learn about the market from Indian point of view. In fact it was one of the most vibrant markets till early 70s. Its development and growth was shunted due to numerous restrictions earlier. Now, with most of these restrictions being removed, there is tremendous potential for growth of this market in the country
The survey of the existing literature reveals that no specific work has been carried out to examine the relation between various economic parameters and future price of commodities traded. The present study is an attempt in this direction. The present studies outline theoretical literature the commodity futures market in India. The review of the past studies in the research means to note the observations, search and many more things done in the past regarding the question in the hand. The review of the earlier studies here is attempted chronologically in order to get a comprehensive picture. Abundance literature on commodity market in general gives theoretical explanation for the emergence of commodity futures market.
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