Commexes turnover soars by 63.7% in Apr-May

The commodity futures market grew by 63.70% to Rs 25,97,926 crore in the first two months of the current fiscal on the back of a sharp jump in trading volumes of bullion, according to the Forward Markets Commission (FMC).

The commodity futures market, which comprises 23 exchanges, did business worth Rs 15,87,023 crore in the same period last year, it said in a statement.

"The business growth in the commodity futures market was largely led by bullion trade, besides an increase in the participation in energy and some agricultural commodities," an official with the FMC said.

The turnover from bullion more than doubled to Rs 16,15,138 crore in the April-May period of the 2011-12 fiscal, as against Rs 6,99,833 crore in the same period last year.

Similarly, the turnover from agricultural commodities rose by over 38% to Rs 2,40,339 crore, as against Rs 1,73,938 crore in the review period.

Business from energy items like crude oil also increased by 23.44% to Rs 3,43,930 crore in the first two months of this fiscal, compared to Rs 2,78,610 crore in the year-ago period.

However, the turnover from metals like copper dipped by 8.31% to Rs 3,98,518 crore in the April-May period of this financial year, as against Rs 4,34,633 crore in the year-ago period.

Apart from the five national bourses -- MCX, NCDEX, NMCE, ICEX and ACE Derivatives -- there are 18 regional exchanges in the country at present.