Commexes turnover up by 54% to Rs 119.5 lakh cr in FY11

The turnover of the commodity futures market is estimated to have risen by 54% to Rs 119.48 lakh crore in 2010-11, buoyed by higher volumes in bullion and energy items, according to the regulator Forward Markets Commission (FMC).

The total business of the commodity futures market in 2009-10 was at Rs 77.64 lakh crore, FMC said in a statement.

Much of the business has come from gold, silver and other energy and metal commodities as trading volumes in these products were higher this year, it said.

The average monthly turnover has rose to Rs 10 lakh crore from Rs 7 lakh crore in the review period, it added.

According to the FMC data, the turnover from futures trading in metals like copper rose by over 49% to Rs 26.87 lakh crore in the 2010-11 financial year as against Rs 18.01 lakh crore in the previous year.

Similarly, the business from energy items rose by 47% to 23.10 lakh crore from Rs 15.77 lakh crore, while the turnover from bullion increase by 34% to Rs 54.93 lakh crore from Rs 31.64 lakh crore in the review period.

The turnover from farm commodities increased by 19.58% to Rs 14.56 lakh crore in FY11, as compared with Rs 12.17 lakh crore in the previous year.

At present, there are five national commodity exchanges, MCX, NCDEX, NMCE, ICEX and ACE commodities and derivative and 18 regional exchanges in the country. About 80% of total turnover of commodity futures market comes from MCX.