FCI speculates on futures trading
the Food Corporation of India (fci) may soon trade its surplus wheat and rice in the domestic commodity exchanges through futures transactions, say fci sources. Even as Asia's largest food-procurement agency toys with the idea, the trader community, brokers and exchanges are apprehensive.
Making sense of futures A futures contract is an agreement made between parties to buy or sell a commodity at a future price decided in advance, based on available demand/supply information. Such a contract would serve two functions for fci