Commodities are split into two types: hard and soft commodities. Hard commodities are typically natural resources that must be mined or extracted (gold, rubber, oil, etc.), whereas soft commodities are agricultural products or livestock (corn, wheat, coffee, sugar, soybeans, pork, etc.). commodity Exchanges function from 10.00 AM to 11.30 PM/11.55 PM every day.
The Government of India permitted establishment of National-level Multi-Commodity exchanges in the year 2002 -03 and accordingly following exchanges have come into picture. They are
- Multi-Commodity Exchange of India Ltd, Mumbai(MCX).
- National Commodity and Derivative Exchange of India, Mumbai(NCDEX).
- National Multi Commodity Exchange, Ahmedabad(NMCE).
- Indian Commodity Exchange(ICEX).
- ACE Derivatives & Commodity Exchange Ltd.
Major Commodities traded in exchange:
Multi Commodity Exchange (MCX) - Gold, Silver, Crude Oil, Mentha, Soy Oil, CPO, Copper, Zinc, Lead.
National Commodity and Derivative Exchange (NCDEX) - Guar Seed, Chana, Soybean, Soy Oil, RM Seed,Pepper, Jeera, Turmeric, Chilli , Sugar.