23-Jul-2018: First Meeting of India-Bangladesh Joint Committee on Border Haats held in Agartala
The first meeting of the India-Bangladesh Joint Committee on Border Haats was held on 22-23 July 2018 in Agartala, Tripura. In the meeting both sides noted the positive impact of Border Haats on the livelihoods of the people living in areas adjoining the Haats. Extensive discussions were held on issues related to review of operations of the four functional Border Haats and suggestions for improvement, timeline for setting up the six additional Border Haats that had earlier been agreed to by both sides and the roadmap for further expansion of Border Haats. It was agreed that the next meeting would be held in Bangladesh on mutually agreed dates.
The Joint Committee visited the Border Haat at Kamlasagar (Sipahijala District, Tripura) – Tarapur (Brahmanbaria, Bangladesh) on 22 July 2018, appreciated its vibrant functioning and noted the need for improvement of infrastructure.
The Memorandum of Understanding (MoU) on Border Haats between India and Bangladesh signed on 8th April 2017 provides for establishment of a Joint Committee to review the border Haats operations, suggest modifications in the operational modalities and propose new locations of Border Haats.
15-Mar-2017: Cabinet approves revised MoU and Mode of Operation between India and Bangladesh for establishing Border Haats
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval to the Revised Memorandum of Understanding (MoU) and Mode of Operation (MoO) between India and Bangladesh for establishing Border Haats on India-Bangladesh Border.
The Border Haats aim at promoting the well-being of the people dwelling in remote areas across the borders of two countries, by promoting traditional system of marketing the local produce through local markets. These measures help to improve economic well-being of marginalised sections of society.
Currently four Border Haats are operational, two each in Meghalaya and Tripura, which were established and operationalized under the MoU and Mode of operation of Border Haats earlier signed between Bangladesh and India on 23rd October, 2010, Subsequently, an Addendum to Mode of operation of Border Haats was also signed on 15th May, 2012. The Revised MoU and Mode of Operation will provide a legal framework for establishment and operationalization of additional Border Haats.
15-Apr-2018: India will work with China on OPEC's 'Asian Premium' issue
Union Petroleum Minister Dharmendra Pradhan has said India will coordinate with China and other Asian countries to voice against the "Asian Premium" being charged by the Organisation of the Petroleum Exporting Countries (OPEC).
Indian Oil Corporation chairman Sanjiv Singh will coordinate with the head of China National Petroleum Corporation (CNPC) to chalk out the strategy that would result in getting better price from OPEC countries. There will be meetings, there will be consensus to put a point of view in front of the oil producing countries (OPEC) that Asian countries must get reasonable and responsible price for their consumption.
Asian Premium is the extra charge being collected by OPEC countries from Asian countries when selling oil, and India has been voicing its dissent against this practice. India sources about 86 per cent of crude oil, 75 per cent of natural gas and 95 per cent of LPG from OPEC member nations.
The bombing on Syria may result in pressure on international crude prices and for the long term gains India should develop alternate fuels for its consumption. In the international commodity scenario when there is an intentional crisis, there is nothing we can do in short terms. But for long term we are opting for alternate fuel and alternate energy, conservation and efficiency of fuel.
For short term when there is a crisis in international market, the nature of the industry since inception is that we have to face the pinch.
14-Jan-2018: First Agri-commodity Options Contracts in Guar Seed
The Union Finance Minister, Shri Arun Jaitley launched the country’s first Agri-commodity options in Guar Seed. NCDEX Agri-options are an important tool which will contribute to the Prime Minister’s vision of doubling the farmers’ incomes by 2022. Guar seed is a major contributor to revenue generation, hence making it a suitable commodity to start with for Options.
This may appear to be a small step, but is a significant one, in the direction of agricultural trade as this will ensure that the farmers will receive a better price for their commodities. NCDEX Agri-Options in Guar Seed aim to provide farmers better engagement in the commodity markets.
This new hedging tool, Agri-Options: Ek Aur Kadam Kisan Pragati Ki Ore, is set to mark an important evolution in trading of agriculture commodities market. This instrument will give a strong impetus towards systematic development and transformation of commodity derivatives market in India, which will make the Agri-economy more efficient and bring huge amount of value for the farmers of India. A Mandi.com mobile application was also launched on the occasion, where farmers can learn more about Agri-Options and the commodities market. Mandi.com is a pro bono half-an-hour ‘weekly show’ produced by NCDEX for National Public Service Broadcaster, DD Kisan Channel, a program dedicated to farmers’ education and awareness.
Key information: Guar Seed Options
Options contracts expiring in the months of February 2018, March 2018 and April 2018 would be available for trading w.e.f. January 14, 2018. The Guar Seed Options will be European type with a tick size of Re. 0.50 per quintal. The Daily Price Range (DPR) will be based on the factors of DPR of the underlying Futures contract and volatility. Options contract shall be launched on the trading day following the day on which the underlying Futures contract is launched. The expiry date of Agri-Options will be the last Wednesday of the month that precedes the month of expiry of the underlying Futures contract. If Wednesday happens to be a holiday, then the Expiry Date shall be the next trading day of the Exchange. In case of banking transaction closing days etc. close to the Options Expiry Date, the same shall be fixed to provide for sufficient time ahead of such days. However, launch calendar with exact date of expirations shall be notified in advance.