scholarly journals Price Discovery in Indian Agricultural Commodity Markets

2012 ◽  
Vol 2 (2) ◽  
pp. 34 ◽  
Author(s):  
Sanjay Sehgal ◽  
Namita Rajput ◽  
Rajeev Kumar Dua
Keyword(s):  
Insider Trading ◽  
Information Dissemination ◽  
Price Discovery ◽  
Spot Markets ◽  
Commodity Market ◽  
Agricultural Commodity ◽  
Policy Makers ◽  
Derivative Market ◽  
Trading Efficiency

In this paper, the price discovery relationship for ten agricultural commodities has been examined. Price discovery is confirmed for all commodities except Turmeric. Price discovery results are encouraging given the nascent character of commodity market in India. However the market does not seem to be competitive. The findings have implications for policy makers, hedgers and investors and will help in deeply understanding the role of futures market in information dissemination. The commodity exchanges must strengthen their surveillance system for early detection on continuous basis of anomalous trading behaviour. These markets are becoming informationally mature and market regulators have taken adequate steps for market development. Forwards Market Commission (FMC) should be given adequate powers to regulate commodity market and penalise any insider trading and price manipulations. Well-organized spot markets must be developed, ensuring transparency and trading efficiency. Electronically traded spot exchanges must be developed and warehousing; testing labs as well as other eco-system linkages must be established to strengthen the derivative market trading mechanism for efficient price discovery mechanism.

scholarly journals Impact of Weather on Agriculture Commodity Market and the Price Discovery: An Empirical Analysis

2021 ◽  
pp. 60-70
Author(s):  
Suraj E. S ◽  
Ojasvi Gupta
Keyword(s):  
Price Discovery ◽  
Commodity Prices ◽  
Price Volatility ◽  
Future Market ◽  
Contributing Factors ◽  
Agricultural Commodity ◽  
Spot Prices ◽  
The Future ◽  
Demand Fluctuations ◽  
Derivative Market

This paper focused on studying the agricultural commodity prices in India and it's extreme volatility due to many reasons such as government interference, growth, market forces factors, regular floods and droughts, transport and warehousing problems, etc. These are contributing factors to demand fluctuations. In this case, the future market plays an important role in the economy. The demand for commodity futures has three particular economic functions: price discovery, price risk management, and price volatility. The future market plays a key role in the process of price discovery. The main aim of this system is to regulate prices to minimize uncertainty, to provide price signals to market traders for futures spot prices through the price discovery phase. So, this study emphasized the role of the derivative market in reducing the volatility of agricultural commodity prices in the Indian market. Keywords: volatility, future market, derivatives

Future–Spot Relationship in Commodity Market: A Comparison Across Commodity Segments in India

2021 ◽  
pp. 097215092110172
Author(s):  
Ruchika Kaura ◽  
Namita Rajput
Keyword(s):  
Spot Market ◽  
Futures Market ◽  
Var Model ◽  
Spot Markets ◽  
Commodity Market ◽  
Agricultural Commodities ◽  
Agricultural Commodity ◽  
Commodity Exchange ◽  
Vector Autoregressive ◽  
Portfolio Managers

This study aims to analyse the future–spot pricing relationship in the context of most actively traded commodities traded on Multi Commodity Exchange of India, which is the leading commodity exchange in the country today. The study intends to compare the pricing relations of three popular commodity segments, that is, bullion and metal, energy and agricultural segments, to explore whether future–spot pricing relationships are similar for all commodity segments or not. The study has applied vector autoregressive (VAR) model on a sample of 13 commodities, categorized as 7 commodities from bullion and metal segment, 2 commodities from energy segment and 4 commodities from agricultural segment. The results of VAR model show that in India, the non-agricultural commodity sector constituting of bullion, metal and energy commodities behave close to each other, but the behaviour of agricultural commodities is quite different from non-agricultural commodities. As regards non-agricultural commodities, the futures market plays a quite dominant and significant role as compared to the spot markets. However, in case of agricultural commodities, the futures market has a comparatively less dominant and strong role, and their spot market also plays an equally strong role. A comparative study of the pricing relationships existing among the three commodity segments will be extremely helpful for farmers, traders, investors as well as the portfolio managers in choosing the most profitable commodity classes for trading, investment and portfolio optimization. Regulators and policymakers can plan and implement an appropriate regulatory framework to strengthen these markets, especially agricultural commodity market, to promote economic growth.

POLICY CHANGE – THE ROLE OF IDEAS AND POLICY ENTREPRENEURS

2018 ◽  
pp. 63-72
Author(s):  
Arwanto Arwanto ◽  
Wike Anggraini
Keyword(s):  
Policy Change ◽  
Significant Role ◽  
Policy Process ◽  
Policy Entrepreneurs ◽  
Multiple Streams ◽  
Policy Makers ◽  
Problem Framing ◽  
Exogenous Factors ◽  
The Relationship

ABSTRACT Understanding policy process involves many distinctive approaches. The most common are institutional, groups or networks, exogenous factors, rational actors, and idea-based approach. This paper discussed the idea-based approach to explain policy process, in this case policy change. It aims to analyse how ideas could assist people to understand policy change. What role do they play and why are they considered as fundamental element? It considers that ideas are belong to every policy actor, whether it is individual or institution. In order to answer these questions, this paper adopts Kingdon’s multi streams approach to analyse academic literatures. Through this approach, the relationship between ideas and policy change can be seen clearer. Ideas only can affect in policy change if it is agreed and accepted by policy makers. Therefore the receptivity of ideas plays significant role and it emerges policy entrepreneurs. They promote ideas (through problem framing, timing, and narrative construction) and manipulate in order to ensure the receptivity of ideas. Although policy entrepreneurs play significant role, political aspects remains the most important element in the policy process. Keywords: policy change, ideas, idea-based approach, Kingdon’s multiple streams, policy entrepreneurs.

An Analytical Approach to Cruise Tourism As an Option For Development: a Case Study of the Sultanate of Oman

2020 ◽  
Vol 15 (2) ◽  
pp. 95-109
Author(s):  
Heba Aziz ◽  
Osman El-Said ◽  
Marike Bontenbal
Keyword(s):  
Capital City ◽  
Sultanate Of Oman ◽  
Policy Makers ◽  
Cruise Tourism ◽  
The Impact ◽  
The Relationship ◽  
Average Expenditure ◽  
Return Intention

The objective of this study was to measure the level of cruise tourists' satisfaction as well as the relationship between satisfaction, recommendation, return intention, and expenditure. Also, the impact of factors such as nationality, length of the visit, and age on the level of expenditure was measured. An empirical approach for data collection was followed and a total of 152 questionnaires were collected from cruise tourists visiting the capital city of Oman, Muscat, as cruise liners anchor at Sultan Qaboos Port. Results of the regression analysis supported the existence of a causal relationship between satisfaction with destination attributes, overall satisfaction, recommendation, return intention, and expenditure. It was found that the average expenditure varies according to age and length of the visit. Recommendations for policy makers were suggested on how to increase the role of cruise tourism in strengthening the economy.

Challenges for Entrepreneurs of ‘Religious Tourism Circuits’: A Study of ‘Holy City’ Kurukshetra

2019 ◽  
Vol 5 (02) ◽  
Author(s):  
Reeti Gupta
Keyword(s):  
Significant Role ◽  
Uttar Pradesh ◽  
Cultural Tourism ◽  
Policy Makers ◽  
Tourist Destinations ◽  
Travel Agencies ◽  
Religious Tourism ◽  
Restaurant Owners ◽  
Holy City

Government of India launched a ‘Swadesh Darshan Scheme’ in January 2015 that pinpoints 13 designated circuits including Ramayana circuit, Krishna Circuit, Buddhist Circuit, and Spiritual Circuit to promote religious and cultural tourism in the country. Kurukshetra is a ‘Holy City’ of State of Haryana that is recently been added in ‘Krishna Religious Tourism Circuit’. ‘Krishna Circuit’ embraces inherent mythology and beliefs pertaining to Lord Krishna and includes different place of Haryana, Uttar Pradesh, Rajasthan, Gujrat, and Odisha for tourism facilitation. This scheme is alleged to contribute significantly in increasing the attractiveness of certain religious tourist destinations. Tourism entrepreneurs like hoteliers, restaurant owners, tour operators, travel agencies as well as religious entrepreneurs (Shinde, 2010) such as religious gurus, priests and managers of temples and ashrams are expected to get benefited from the initiatives proposed in the scheme in varied ways. Given the significant role of this scheme for growth of entrepreneurs, the present study aims to highlight the challenges faced by entrepreneurs that deserve attention of policy makers.

Language Use and Sustainable Development: Opportunities and Challenges for Policy-Makers and Educators in Northeast Vietnamese Areas

2018 ◽  
Vol 2 (2) ◽  
pp. 122-130
Author(s):  
Ha Ngan Ngo ◽  
Maya Khemlani David
Keyword(s):  
Ethnic Groups ◽  
Language Use ◽  
Mother Tongue ◽  
Language Shift ◽  
Minority Languages ◽  
Policy Makers ◽  
Positive Attitudes ◽  
The Status ◽  
Wedding Songs

Vietnam represents a country with 54 ethnic groups; however, the majority (88%) of the population are of Vietnamese heritage. Some of the other ethnic groups such as Tay, Thai, Muong, Hoa, Khmer, and Nung have a population of around 1 million each, while the Brau, Roman, and Odu consist only of a hundred people each. Living in northern Vietnam, close to the Chinese border (see Figure 1), the Tay people speak a language of the    Central    Tai language group called Though, T'o, Tai Tho, Ngan, Phen, Thu Lao, or Pa Di. Tay remains one of 10 ethnic languages used by 1 million speakers (Buoi, 2003). The Tày ethnic group has a rich culture of wedding songs, poems, dance, and music and celebrate various festivals. Wet rice cultivation, canal digging and grain threshing on wooden racks are part of the Tày traditions. Their villages situated near the foothills often bear the names of nearby mountains, rivers, or fields. This study discusses the status and role of the Tày language in Northeast Vietnam. It discusses factors, which have affected the habitual use of the Tay language, the connection between language shift and development and provides a model for the sustainability and promotion of minority languages. It remains fundamentally imperative to strengthen and to foster positive attitudes of the community towards the Tày language. Tày’s young people must be enlightened to the reality their Tày non-usage could render their mother tongue defunct, which means their history stands to be lost.

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