16. A Study on Price Discovery of Jeera and Mustard Seeds Sustainable Trading in NCDEX

India being an agricultural economy, agricultural commodities play a very important role. The commodity derivative market was started a way long back in 1874 in India but it regained its importance only from 2000 and within the span of a short time it has gained its importance in price discovery, hedging and arbitrage process. An efficient commodity futures market attracts a number of investors in the futures market. At this juncture, there are many complications related to price signals, volatility spillovers and price discovery in the spot and futures of Indian commodity market. The present study examines the price discovery of agricultural commodities traded in the NCDEX with reference to the spot prices and future prices of jeera and mustard seeds for the period of January 2020 to December 2021. The study investigates the integration between spot and future price through Johnson integration test and the causal relationship whether they have a bidirectional or unidirectional relationship by using Granger Causality Test.