Commexes turnover up by 49% in Jan

The turnover of 23 commodity exchanges has surged by 49 per cent to Rs 7,07,527 crore in January due to rise in participation in futures trading of agricultural and other commodities like energy, the Forward Markets Commission (FMC) said today.

Turnover stood at Rs 4,75,463 crore in the corresponding period last year, it said in a statement.

The data, released by the commodity market regulator FMC, showed four national exchanges and 19 regional exchanges earned major business from crude oil, bullion, guarseed, soyabean, soya oil and chana last month.

Leading national commodity bourse MCX made a business of Rs 4,62,696 crore in January, up by 28.59 per cent from Rs 3,59,805 crore in the same period last year.

Similarly, agri-commodity exchange NCDEX turnover rose by 31 per cent to Rs 87,823 crore from Rs 66,831 crore in the review period.

Interestingly, business of National Multi Commodity Exchange (NMCE) surged more than eight-fold to Rs 16,989 crore last month from a mere Rs 1,965 crore in the year-ago period. While turnover of new entrant ICEX stood at Rs 32,900 crore.

As regard to turnover from agri-items alone, it rose by 89 per cent to Rs 1,11,170 crore in January, while business from other commodities such as energy more than doubled to Rs 2,93,081 crore from Rs 1,35,834 crore in the review period.

Total turnover till January 2010 has increased to Rs 25,13,408 crore from Rs 23,04,151 crore in the year-ago period, as per the official data.