Commexes' Apr turnover jumps by 73% on bullion trade

Buoyed by bullion trade, the turnover of the commodity futures market rose by 73% to Rs 12.94 lakh crore in April this fiscal as against Rs 7.48 lakh crore in the same period last year.

The combined cumulated turnover of 23 commodity bourses rose significantly in April owing to more than two fold jump in the trade volumes of gold and silver, the commodity markets regulator Forward Markets Commission (FMC) said.

According to FMC data, the business from bullion increased to Rs 8.29 lakh crore in April as against Rs 2.93 lakh crore in the corresponding period last year.

The turnover from agriculture improved by 23.23% to Rs 1.14 lakh crore from Rs 93,116 crore, while the business from energy items like crude oil rose by 14% to Rs 1.53 lakh crore from Rs 1.35 lakh crore during the period under review.

However, the turnover from metals like copper and zinc declined by over 13% to Rs 1.96 lakh crore in April as against Rs 2.27 lakh crore in the year-ago period.

In the first month of the current fiscal, leading commodity exchange MCX clocked the highest business of Rs 11.61 lakh crore, followed by NCDEX at Rs 99,176 crore, ICEX at Rs 15,351 crore, NMCE at Rs 8,127 crore and ACE Derivatives and Commodity Exchange at Rs 6,750 crore.

Currently, there are five national and 19 regional level exchanges in the country.