India is a commodity-based economy where two-third of the one billion populations directly depended on agricultural commodities. Surprisingly, it has an under developed commodity market. Unlike the physical market (spot market), futures market trades in commodities are largely used as risk management (hedging) mechanism on either commodity itself or open position in commodity stock. Agricultural Commodities means an unprocessed product of farms, ranches, nurseries, and forests and natural and man-made bodies of water, that the Independent Producer has cultivated, raised, or harvested with legal access rights.