Commex turnover rises 50% in current fiscal: FMC

Driven by a sharp rally in bullion, the turnover of commodity exchanges in the country during the fist nine months of the current fiscal rose by nearly 50 per cent to Rs 82.7 lakh crore, according to the market regulator.

The cumulative turnover of 23 commodities exchanges, top consumers of gold and sugar, during the current fiscal till December 31, 2010 rose by 49.6 per cent to Rs 82,70,878.31 crore as against Rs 55,26,295.9 crore in the corresponding period last fiscal, commodity exchange regulator Forward Market Commission (FMC) said on its website.

The surge in commex turnover during the current fiscal is mainly driven by surge in bullion prices, which pushed the turnover of precious metals on exchanges by nearly 70 per cent to Rs 37.5 lakh crore as compared to Rs 22.1 lakh crore in the corresponding period last fiscal, FMC said.

Besides, the total trade of metals other than bullions on the exchanges during April-December period also rose by 64.4 per cent to Rs 19.37 lakh crore.

Trade volumes of agri-commoditites also rose by 7.4 per cent in the April-December period of 2010-11 to Rs 9.69 lakh crore.