Abstract
The history of commodity derivative market in India dates back to the ancient times, but the first organized market was established in 1875. However, by mid 1960s government took a drastic step by banning derivatives trade altogether. The commodity derivative market remained virtually absent in next four decades and it made the restart only in early 2000s. Since its reintroduction is thriving and the current trend shows strong growth potential of the market, although, the actual growth trajectory will depend upon the attitude of the policy makers and the efficiency of the regulatory mechanism. The development of the crude oil refining industry and the internal combustion engine has influenced each other during the 20th century. This study focused on the performance of
crude oil commodity futures market in MCX in India. India, like many other developing countries, is a net importer of energy; more than 76 percent of crude oil is being met through imports. But the Total value of crude oil trade in 2017 was 106550844.32
Keywords: Futures contracts, Crude OIL Commodity, Multi Commodity Exchange, Trading Years
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