Last Updated : December 19, 2006
The Bombay Commodity Exchange Ltd
The Bombay Commodity Exchange Limited (BCE) was known as The Bombay Oilseeds and Oils Exchange Limited (BOOE).
It began operations in 1900 through the Gujarati Vyapari Mandali in Mumbai to regulate oilseeds futures market.
The name of this company was changed to The Bombay Oilseeds & Oils Exchange Limited with effect from April, 1950.
In 1950, the Exchange was recognised under the Bombay Forward Contracts (Control) Act, 1947 for regulating futures trading in all oilseeds. In 1952, the Forward Contracts Regulation Act was enacted repelling all erstwhile statutes in respect of commodities futures trading.
In 1963, the Exchange launched futures trading in groundnut oilcake expeller variety.
But futures trading in oils and oilseeds, which was successfully operational, received a severe jolt in mid 1960s, when the Govt. banned futures trading in all edible oils and its products. Further, in 1971 futures trading in cottonseed was banned and in 1977, it was banned in respect of castorseed and linseed too. Hence, there was absolute absence of futures trading in all commodities in BCE since 1977 to 1985.
In 1985, the Govt. again allowed BCE to launch futures trading in castorseed, which is operational since then. Commodities Traded:
Groundnut Oil Address
The Commodity Exchange
Plot No. 2, 3 & 4 Sector – 19
Vashi, Navi Mumbai
Tel: 7666044, 7652593,
E-mail: firstname.lastname@example.org Web Site
www.booe.org Contact Person
Mr Satyamorthy, D.S.