Saturday, July 22, 2006

Bumber Crop, Traders Lost...

There were clear indications from experts about a bumper crop and most traders, including one Delhi-based trader who lost Rs.6 million, sold turmeric short (in layman’s terms, they gambled on turmeric prices falling in the future). However, a selective and shadowy group of big traders cornered the market and the small traders realized that they did not have the resources to go on gambling. Most went bankrupt, or withdrew with heavy losses. And without surprises, something exactly similar seems to have happened with the commodity mentha oil. Overall, there have been four confirmed cases of suicide amongst Delhi-based commodity traders in recent weeks. Though one would not wish to connect, but in fact, there are many traders who claim more than 200 small traders across India have committed suicides.

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-
Business and Economy,

Prof. Arindam Chaudhuri

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