Jet fuel futures contract takes off at MCX
Mumbai, India-based Multi-Commodities Exchange (MCX) has begun trading jet fuel futures contracts to help Indian airlines and refineries hedge against rising crude oil prices.
The exchange says its Aviation Turbine Fuel (ATF) contracts are a response to increased demand for ATF due to the introduction of budget airlines and increased air-traffic in India.
Consumption of jet fuel has increased by 77% globally since the year 2000, according to the MCX. India is self-sufficient in its production of ATF, turning out 7,805,000 tonnes a year and exporting 3,662,000 tonnes per
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