Commexes turnover up 56% in Q1 to Rs 38 lakh cr

The turnover of the commodity futures market rose 56% to Rs 38,29,230 crore in the first quarter of 2011-12 on the back of robust trading volumes in gold and silver, the Forward Markets Commission (FMC) said.

The turnover stood Rs 24,55,987 crore in the April-June period of the previous year, the FMC said in a statement.

Much of the business volumes were generated from trading in gold, silver and agricultural commodities, it noted.

According to the FMC data, the turnover from bullion almost doubled to Rs 22,19,922 crore till June of the current fiscal from Rs 11,25,608 crore in the year-ago period.

The turnover from farm items rose by 53% to Rs 3,84,658 crore from Rs 2,51,475 crore, while business from energy items such as crude oil jumped by 35.38% to Rs 5,87,468 crore from Rs 4,33,953 crore in the year-ago period.

However, the turnover from metals such as copper declined marginally to Rs 6,37,180 crore till July this fiscal from Rs 6,44,939 crore in the year-ago period.

In June, leading commodity bourse MCX did the maximum business of Rs 10,48,741 crore, followed by NCDEX (Rs 1,37,665 crore), ICEX (Rs 19,243 crore), ACE Derivatives and Commodity Exchange (Rs 10,713 crore) and NMCE (Rs 10,029 crore).

Currently, there are five national level and 18 regional commodity exchanges in the country. The commodity futures market did business of Rs 119.48 lakh crore in 2010-11.