GalaTime

Worthwhile reads for investors & traders in commodities:

• India’s MCX eyes $750bn turnover

India’s Multi-Commodity Exchange (MCX) commodity exchange expects turnover of at least $750 billion this fiscal year . . . in the last fiscal year running to the end of March, turnover at MCX, which was launched in 2003, totalled $480 billion . . .

Reforms, such as allowing new kinds of forward contracts or algorithmic trading in India, are pending approval and Lamon Rutten, joint managing director of MCX, said a go-ahead for just two measures would take volumes to $1 trillion this year.

• ‘Agflation’ takes root in world prices

Calculations of ‘core´ inflation strip out food and energy prices, seen as volatile and therefore liable to skew any snapshot of consumer price levels. But some analysts now argue that a steep climb in the cost of food worldwide in recent months could be permanent, or at least long lasting.

Merrill Lynch has even coined a term to capture the phenomenon of food prices forcing up consumer prices more broadly: ‘agflation’.

• Presentation by Eric Janszen (iTulip.com) at the Hard Assets Conference

This entry was posted on Thursday, May 17th, 2007 at 9:32 am and is filed under commodities. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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