Comexes' turnover rises 7.69% in July

The three national commodity exchanges, that represent over 95 per cent share in commodity derivatives trading, recorded 7.69 per cent rise in turnover in July on wider participation from urban as well as rural areas.

Total turnover of theses exchanges including the Multi Commodity Exchange (MCX), National Commodity & Derivatives Exchange (NCDEX) and National Multi Commodity Exchange (NMCE) rose to Rs 568,332.76 crore in July 2009 as compared to Rs 527,727.10 crore in the corresponding month last year.

Intensified awareness programme conducted in recent months by the commodity markets regulator, the Forward Markets Commission (FMC) in association with commodity exchanges favoured the agri commodity trade on exchange platforms. Total trade value of farm commodities surged 61 per cent at Rs 97,243.21 crore from Rs 60,423.76 crore while other commodities grew by a scanty 0.81 per cent to Rs 471,089.56 crore from Rs 467,303.34 crore.

Despite a nominal 0.35 per cent increase in total value of trade, the country’s largest comex, MCX, witnessed a marginal decline in its share of total trade to 81.62 per cent from 87.60 per cent which analysts attribute to it’s extensive base.

Agri business of the exchange grew a phenomenal 91.22 per cent to Rs 6,025.95 crore from Rs 3,151.32 crore while non-agri contracts’ trade value slipped a marginal 0.27 per cent at Rs 4,57,852.92 crore during July 2009 versus Rs 4,59,111.24 crore in the same month last year.

The second largest comex, NCDEX, however, improved its performance a bit to share 12.86 per cent with a total turnover of Rs 73,082.27 crore in July 09 in comparison with Rs 61,549.61 crore in the comparable month last year.