As one can see in Figure 1, there is a huge geographic disparity in futures trade by FPOs in India. Even out of the eleven states, only three states, viz. Bihar, Maharashtra and Madhya Pradesh together account for 92 percent of the total FPOs futures trade between April 2016 and May 2018. Bihar alone accounts for 64 percent of overall FPOs futures trade recorded. Rajasthan forms just 4 percent of total FPOs trade while the rest 4 percent is formed by
Gujarat, Kerala, Chhattisgarh, Punjab, Uttar Pradesh and Telangana.
