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This book is a collection of select papers presented at the seminar on Commodity Derivative Markets: Opportunities and Challenges, organized by Takshashila Academic of Economic Research in association with the Institute for Studies in Industrial Development (ISID). The papers in this book focus on three key themes-strengthening and expanding the scope of commodity derivative trading the scope of futures trading on commodity prices; and role of commodity markets in the global meltdown. The contributors are leading scholars in their respective fields. They address important issues relating to commodity derivative markets, and the book will serve as a reference tool for marketplayers and market regulators alike, and will also assist the latter in decision making. About the Author Dr. Madhoo Pavaskar is Director, Takshashila Academia of Economic Research. His varied and vast experience spans over 50 years of which 21 years were with Tata Economic Consultancy Services from where he retired as Executive Director, six years as Head of Forward Market Research Cell at Department of Economics, University of Mumbai, and nine years with Forward Markets Commission, Government of India. After his retirement from Tatas, he was an independent consulting economist. He has authored and published 16 books on such diverse sectors as commodity marketing and futures, transport, communications, services, etc. his research articles and papers published in academic journals number over 100. Dr Pavaskar is a recognized authority in India on economics of commodity futures trading. Dr Pavaskar was editor of the Economic Sense, a monthly journal published by Tata Economic Consultancy Services, from 1976 to 1979. He is currently Consulting Editor of Commodity Vision, a bi-monthly journal published by Takshashila Academia of Economic Research. His in-depth knowledge in the economics of futures trading was also recognized when he was nominated by Secretary-General of UNCTAD, as a member of the "Expert Group on Commodity Futures Markets" during 1994-95. He was also a member of the research team set up by the World Bank of the research team set up by the World Bank for the study of Cotton Market in India in 1995-96. He has worked on several committees and study groups, appointed by the Government of India and the Government of Maharashtra, from time to time in areas such as tourism, food, edible oils, etc. Table of Contents Preface Welcome Address Address on the Seminar Theme Inaugural Address Keynote Address Keynote Address Do Futures Markets Discover Price? Background Note Select Papers