The Forward Markets Commission (FMC) today said the turnover at the commodity futures market crossed Rs 100 lakh crore-mark till February 15 of the current fiscal, buoyed by futures trading in bullion and energy items.

The turnover stood at Rs 66.24 lakh crore in the same period last year, FMC said in a statement.

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The maximum turnover was generated from bullion trade, followed by metals, energy and farm commodities, it said.

Big volume trade took place largely on national level commodity bourses -- MCX, NCDEX, ICEX and NMCE.

"The seven-year old commodity futures market has for the first time witnessed a turnover of over Rs 100 lakh crore. The growth will get accelerated with the passage of amendments in the Forward Contracts (Regulation) Act," an FMC official said.

According to the official data, the turnover from bullion futures trade rose by 69% to Rs 45.49 lakh crore up to February 15 of the current fiscal as against Rs 26.89 lakh crore in the same period last year.

Similarly, the business from metals such as copper increased by 57% to Rs 22.99 lakh crore from Rs 14.63 lakh crore, while the turnover from energy items like crude oil jumped by 37% to Rs 19.63 lakh crore from Rs 14.05 lakh crore in the review period, the figures showed.

The turnover from futures trading in agricultural commodities rose by 14% to Rs 12.11 lakh crore from Rs 10.62 lakh crore in the review period, it added.

Food and Consumer Affairs Minister K V Thomas yesterday said in the Lok Sabha "the government does not propose to ban forward trading in essential commodities" as no study has identified forward trading as one of the reasons for spurt in agri-commodity prices.

At present, futures trade is banned in toor, urad and rice.

Currently, there are five national commodity bourses and 18 regional bourses in the country.

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