Commexes' turnover soars 44% to Rs 12,87,708 cr

The total turnover of commodity exchanges in the country surged by 44 per cent to Rs 12,87,708 crore during the current fiscal till June 15, thanks to improved participation in agricultural commodities.     

Farm commodities contributed Rs 1,89,841 crore to the total turnover during the review period, which is 46.40 per cent up from the same period last year, commodity market regulator Forward Markets Commission (FMC) said in a release today.     

Turnover from bullion trade increased by 34 per cent to Rs 5,68,979 crore.    

Increasing business is a sign of revived confidence in agricultural commodities, which had suffered a setback owing to ban on few items last year, experts said.     

During the June 1-15 period, the total turnover of 22 commodity exchanges in the country rose to Rs 3,00,649 crore from Rs 1,91,663 crore in a year-ago period, FMC data showed.     

The turnover of the leading exchange, MCX, stood at Rs 2,68,291 crore, while leading agri-commodity bourse NCDEX recorded a business of Rs 21,622 crore. Among other national level exchange, Ahemedabad-based NMCE registered a turnover of Rs 7,470 crore.    

Among the regional bourses, Indore-based National Board of Trade, which basically deals in soya oil, recorded a turnover of Rs 2,343 crore.

Of the traded commodities at MCX, gold, silver and crude oil recorded the highest volume, according to FMC, which releases the trade data on every fortnight.     

The near month contract (August 2009) in gold quoted at its highest at Rs 14,970 per 10 gm on June 1 and the total value of trade in all gold contracts was Rs 79,965 crore. Silver turnover at MCX was Rs 55,605 crore while crude oil trading was Rs 53,312 crore.     

At NCDEX, guarseed trading surpassed turmeric with a turnover of Rs 4,413 crore. Gaurseed recorded a business of Rs 3,081 crore.