The Multi Commodity Exchange (MCX) is witnessing a spike in trading in agricultural commodities and has recorded a cumulative trading volume of Rs 1,218 crore in agri-commodities. | |
| Four pulse contracts were launched by the MCX in June 2004. Desi chana recorded volumes of 15240 tonne valued at Rs 25 crore, urad saw trades in 32080 tonne (Rs 48.5 crore), tur trading volume was 9100 tonne (Rs 18.46 crore) and trade in yellow peas was at 22,680 tonne (Rs 14.32 crore). |
| |
| The average chana trading volume had risen steadily and was now around 1200 tonne daily with average open interest is 700 tons. |
| |
| Prices of the active September 2004 contract were consolidating after peaking at Rs 1741 a quintal in the last week of July. Currently, the chana market is in the range of Rs 1640 a quintal. |
| |
| MCX completed settlement in chana contract. Due date rate (DDR) for the August 2004 contract was fixed at Rs 1536 per 100 kg. |
| |
| "The DDR mechanism ensures that it protects the market participants' interest and doesn't result in erroneous situations leading to a shake-up of the participants' confidence in the exchange settlement mechanism," said Joseph Massey, deputy managing director of the MCX. Refined soyoil was heavily traded in recent weeks. |
| |
| Around 15000 tonne was being traded on an average with volume peaking at 23,100 tonne on August 12, 2004. |
| |
|
| |
