Comexes' turnover up 49% in August

The turnover of 23 commodity bourses rose by 49.38 per cent to Rs 9,04,686 crore in August this year despite low business recorded during the month at the leading exchanges, MCX and NMCE, according to the Forward Markets Commission (FMC).

The turnover of all the bourses amounted to Rs 6,05,610 crore in August last year, the official statement said.

Total business of four national and 19 regional commodity bourses increased significantly last month, although turnover at two leading commodity exchanges — MCX and NMCE — fell by 8.63 per cent and 51.5 per cent respectively, the analysis of the FMC data showed.

The turnover of MCX, the country’s top commodity bourse, declined by 8.63 per cent to Rs 4,46,167 crore in August, from Rs 4,88,314 crore in the same period last year.

Similarly NMCE, the country’s third biggest commodity bourse, clocked a turnover of Rs 8,709 crore last month, down by 51.5 per cent from Rs 17,979 crore in the year-ago period.

However, the turnover of NCDEX, the country’s second biggest agri-commodity bourse, rose by 10.7 per cent to Rs 1,03,186 crore from Rs 93,211 crore in August.

According to commodity markets regulator FMC, the maximum increase in turnover at commodity exchanges was seen in gold and silver trade, which has more than doubled to Rs 3,50,068 crore during last month, as compared to Rs 1,67,479 crore in the year-ago period.

Similarly, the turnover of non-bullion metals like copper has risen by over 35 per cent to Rs 2,31,883 crore from 1,71,353 crore, while that of business from agricultural commodities has increased marginally to Rs 1,19,460 crore from Rs 1,18,940 crore in the review period, it said.

During April-August period of this financial year, total business at commodity exchanges rose by 56 per cent to Rs 42,76,936 crore, against Rs 27,29,248 crore in the year-ago period, it added.