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The Forward Market Commission (FMC) merged with the Securities and Exchange Board of India (SEBI). These exchanges require standard agreements as per the instructions for commodity trading so that trades can be executed without visual inspection. Generally, the commodity is classified into four types:
1. Metal – Silver, Gold, Platinum, and Copper
2. Energy – Crude oil, natural gas, gasoline, and kerosene
3. Agriculture – maize, bean, rice, wheat, etc.
For example, bullion, crude, base metals are traded on the country's largest non-agri commodity exchange. In addition, some agri commodities such as mentha oil, crude palm oil (CPO) are traded. Similarly, commodity exchange NCDEX has futures trading in high-end agri commodities. NCDEX has futures trading in other commodities including guar, gram, barley, wheat, soybean, coriander, castor, cumin,turmeric.