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Commodity History in India

Commodity markets have existed centuries around the world. Ancient civilizations have their own form of commodity exchanges, mainly exchange with goods to goods i.e. barter system was existed all around the world. In ancient Indian history says about commodity exchanges in India.  Chanakya's (the minister of Chandraguptha Maurya in 4th century B.C)  Arthasasthra mentioning about Commodity Exchanges.

In 1875 the first organized form of futures market existed in India named Bombay Cotton Exchange Ltd  to trade cotton contracts, this started soon after the establishment of  Trading in Cotton futures in U.K, because Bombay is an important trading place for cotton trade under the British Empire.

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In 1893, a separate association namely “Bombay Cotton Exchange Ltd.” was constituted  by Leading cotton mill owners and merchants from Bombay, followed by disputes over the functioning of the Bombay Cotton trade Association Ltd.

1900 Gujarati Vyapari Mandali  was set up  for oil seeds future trading undertake futures trading in oilseeds particularly, futures trading in groundnut, castor seed and cotton

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