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The Multi Commodity Exchange has hiked transaction charges on non-agri commodities to ₹2.60 per lakh from ₹2.10 per lakh for trade up to ₹350 crore. On turnover above ₹350 crore, the charges will be ₹1.75 per lakh, up from ₹1.40 per lakh earlier. Transaction charges on agri commodities too have been hiked.
More in the derivatives market
SEBI has notified 91 commodities that will be allowed to trade on commodity derivatives platform. This includes six new commodities — cocoa, pig iron, brass, diamond, tea and eggs. Experts say the exchanges may not immediately come up with a futures contract.
Sugar output to drop
Sugar production in the 2016-17 sugar season is projected at 234 lakh tonnes. This is about 7 per cent lower from the previous year. According to the first advance estimate made by the Indian Sugar Mills’ Association, total cane acreage in the 2016-17 sugar season is likely to be 49.99 lakh hectares, 5 per cent lower than last year.
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