Commodity futures turnover up 131%

India’s commodity futures turnover from four national exchanges and 18 regional ones during the December 1-15 period stood at Rs 4.44 lakh crore, up 131 per cent from the same period a year ago, said an official with the Forward Markets Commission (FMC).

The rise in turnover can be attributed to the turnover of more than Rs 21,500 crore from the fourth national bourse, Indian Commodity Exchange, the official said.

The total turnover as of December 15 in the current financial year was Rs 51.74 lakh crore, up 47.5 per cent from last year, he said. However, the figures are not strictly comparable since the Indian Commodity Exchange (ICEX) started operations on November 27 this year.

Rise in fortnightly turnover was mainly from bullion futures, which posted a 96 per cent year-on-year rise at Rs 2.28 lakh crore.

Farm futures’ turnover during the period registered an even sharper increase of 309 per cent on year to Rs 73,348 crore, said the official.

The Multi Commodity Exchange (MCX), the country’s top bourse in terms of turnover, registered a 102 per cent rise in turnover to Rs 3.50 lakh crore, said the FMC official.

Gold, silver, crude oil, and copper were the top traded contracts for MCX.

The turnover for National Commodity and Derivatives Exchange (NCDEX) during the period was at Rs 56,700 crore, up 284 per cent from Rs 14,800 crore for the same period last year. Guarseed, soyoil, chana, and soybean were the turnover toppers on NCDEX, he said.

ICEX registered a turnover of Rs 21,517 crore during the fortnight under review, with gold, crude oil, copper, and silver contracts taking the top four positions.

National Multi-Commodity Exchange of India (NMCE) registered the highest percentage rise of 490 per cent during the period taking the total turnover to Rs 12,625 crore, said the official.

Sacking, mustard, guar, and soyoil were the highest-traded contracts in the period.

Among regional bourses, National Board of Trade, Indore maintained the top slot with Rs 24,380 crore in turnover, he said.