Commodity exchanges' turnover up 7% in Apr-July

Total turnover of commodity exchanges rose by 7% to Rs 56.64 lakh crore in April- July this year buoyed by trade in energy and farm commodities.

The exchanges had made a business of Rs 53.11 lakh crore in the same period last year, commodity markets regulator FMC said.

Barring gold and silver, the business from energy items like crude oil, natural gas, and farm commodities such as soyaoil, soyabean, mustard seed and chana, remained high in the April-July period of 2012-13 fiscal.

The sector regulator said it has taken a slew of measures in the last two weeks to keep a check on price rise in some farm commodities in the backdrop of weak monsoon.

FMC has hiked deposit (margin) money in soyabean, mustard, soyameal, turmeric and cottonseed oil cake futures to restrict speculators.

According to the FMC data, the turnover from energy items rose by 42% to Rs 11.75 lakh crore till July of the current fiscal from Rs 8.25 lakh crore in the year-ago period.

Similarly, the business from farm futures rose by 30% to Rs 7.69 lakh crore from Rs 5.89 lakh crore. The turnover from metal jumped by 26% to Rs 10.59 lakh crore from Rs 8.38 lakh crore in the review period.

However, the turnover from bullion fell by 13% to Rs 26.61 lakh crore in April-July this year, from Rs 30.57 crore in the year-ago period.

At present, there are five national level bourses -- MCX, NCDEX, NMCE, ICEX and ACE besides 16 regional commodity bourses in the country.