NSEL reaffirms higher commodity stocks than outstanding

NSEL estimates value of industrial, agricultural commodities stocks at Rs 6,052.46 crore

Financial Technologies promoted beleaguered spot commodity trading platform National Spot Exchange Ltd (NSEL) reaffirmed on Wednesday that the value of commodities in the exchange’s possession stands substantially higher than overall outstanding in trade.

In a circular posted on its website, NSEL estimated the value of industrial and agricultural commodities stocks at Rs 6,052.46 crore as against Rs 5,580.34 crore cumulative outstanding amount as on July 31, 2013.