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Thai Agricultural-Commodity Trading Exchange on Track for April Launch.
Byline: Woranuj Maneerungsee
Oct. 5--Draft regulations for Thailand's first agricultural commodity exchange are halfway to being completed.
Chaipat Sahasakul, the first secretary-general of the Agricultural Futures Trading Commission, said he was confident the regulations would be ready in time for the futures market to open in April.
Thailand has spent a decade planning the market as a centre to provide information and management expertise with the main objectives of modernising and strengthening farming, and encouraging farmers to diversify their crops and produce to reduce risks.
Most of all, the government hopes the market will reduce the need to spend heavily on commodity price-support programmes.
Mr Chaipat, formerly a senior executive vice-president of MFC Asset Management, took office in May with 10 other commission members.
The commission is working on three major areas, the establishment of the commission's office and an operations base for the market, and setting regulations for running the market. Office staff are being recruited.
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