What is commodity market and where is the exchange for same?

Commodity market is an online place just like the share market and there are commodity exchanges just like BSE and NSE for shares. One can buy and sell the commodities without taking the physical deliveries and can make profit by correctly speculating their fluctuations in the market.
Historically, business people were doing it in physical form by buying the commodities in an appropriate time and then storing them in their warehouses and then selling at some other time when the commodity price of that particular commodity in the market increased. That time the buying and selling used to coincide with the crop season also as at the time of new crop the prices usually remained low and then the prices increased with time till the next crop came in the market.
Today, everything is possible online and one can trade the commodities of ones choice where ones speculation may turn correct leading to a gain in that transaction. At present there are many commodity exchanges in India where this trading can be done. Right now Multi Commodity Exchange of India (MCX) and National Commodity and Derivative Exchange (NCDEX) are the two main top exchanges for commodity trading in India. There are many commodities in which this trading is allowed by the Govt. The items like metals, oil, spices and many others are traded.
For trading in the commodity market one has to have a Demat account in Bank or some other online portals in the same way as we use for share trading. Then we have to select the exchange where we want to trade and do the trading by allocating funds for it. The commodity bought will reflect in our account and we can sell it any time or as per the conditions of our buy contract whatever we have executed at the time of buying.
One thing which is to be noted in this context is that commodity price fluctuations are also like the share market fluctuations and are not so easy to predict for making a profit so in the beginning one has to take help of some expert in the commodity market who has a requisite experience in this line.

In a commodity market commodity will be sold. This market can be physical or virtual. As per the available information, there are abouit 50 major commodity markets and about100 commodities are traded in these markets across the world.

There are two types of commodities.
1. Hard Commodities: These are materials available by mining or extraction. Examples: Oils, Silver, platinum etc.
2. soft commodities: They are obtained by cultivation or from animals. Examples: Rice, Tea, meat etc.
The following exchanges are there in India.
1) National Stock Exchange of India Limited (NSE): This is the same exchange which deals with the share market. They have commodity trade also
2) Bombay Stock Exchange (BSE): This is also similar to NSE only.
3) Multi Commodity Exchange of India Limited (MCX): They deal with commodities only
4) National Commodity and Derivatives Exchange Limited (NCDEX): This is only for commodities.
5) Indian Commodity Exchange Limited (ICX): This is also for commodities only.

Commodity marketing is like a share market only. You can purchase a commodity on the virtual platform if you feel that the price may increase and you can sell it when your targeted price comes. If you feel there is no chance for increase you can sell it.
For trading, you require a DEMAT account. If you have a DEMAT account for share market the same can be used for this also. You can trade on any of the exchanges or in all the exchanges also after following the procedures.

Always there will be two sides for any coin. In the same way here also there are some advantages and disadvantages also.

These platforms are good for making money If traded carefully chances for profits are high. The market will undergo very fast changes and risk is high. One should be very careful in this market.

The commodity market is just like any other market and from this plateform, you can sell, buy or trade commodities of your choice at the current date or some date as agreed between you and the seller.
You can enter into future contract wherein an agreement has to be made between the seller and the buyer and according to this agreement, the buyer would pay the agreed sum during the time of transaction wherein seller would deliver commodity at a date agreed upon by them mutually.
At present, India has six commodity exchanges as indicated below -
1) Multi Commodity Exchange
2) National Commodity and Derivative Exchange
3) National Multi Commodity Exchange
4) Indian Commodity Exchange
5) ACE Derivative Exchange
6) Universal Commodity Exchange.
You may get higher leverage with the commodity trading but the risk associated with this trading relating relating to commodities may go on the higher side because of the fluctuations of the market. Hence constant vigilance of the market is essential. It would be better for a beginner to take help of the commodity market expert so that you could be familiar with the process and the losses as a result of market fluctuations could be minimised to a great extent.

First of all I would like to inform MCX ( Multi commodities exchange) is purely legal.
Regarding safety I can not assure 100% .
Because if something wrong happened and price get fluctuate due to sudden global news or any other technical fault then exchange does not get responsible.
but your investment amount is safe maximum amount of 25 lakh if anything mishappened with Broker.

Mcx is being offered by all brokers. To trade in MCX u need to open an account with any broker like zerodha, profitmart, upstox etc.
What are the instrument available in MCX?
In bullions
Gold and silver.
In Meatals
Lead, Zinc, Aluminium, Copper, NIckel
In Energy segment
Crude oil, Natural Gas.
Apart from these also they have some Agri products like
Black peeper, Cardamom, rubber, Mentha oil etc.
But mainly Agri products does not have good volume in trading platform, so most of the traders choose bullion, metals and energy segment for trading.

Commodity market is highly leveraged product by exchange so it is a high risk and high reward things, so instead of start trading, watch the price movement and calculate the loss profit ratio for 2-3 months initially then go for trading.