Commexes' Apr-Nov turnover drops by 48%

The turnover of the commodity exchanges fell by 48 per cent to Rs 39.88 lakh crore during April-November of this fiscal due to poor trading volumes, according to the Forward Markets Commission (FMC).
These exchanges had generated a business of Rs 76.77 lakh crore in the same period last year, commodity markets regulator FMC said in its latest report.
According to FMC' latest data, the turnover from bullion fell maximum by over 58 per cent to Rs 14.20 lakh crore during the April-November period of the 2014-15 fiscal, as against Rs 34.18 lakh crore in the year-ago period.
Similarly, the business from energy items like crude oil declined by 48 per cent to Rs 9.77 lakh crore from Rs 18.60 lakh crore, while the turnover from metals dropped by 39 per cent to Rs 8.46 lakh crore from Rs 13.89 lakh crore in the review period.

The turnover from agricultural commodities too showed a decline of 26 per cent at Rs 7.44 lakh crore during April-November of this fiscal, as against Rs 10.09 lakh crore a year ago.
Experts attributed fall in business in the commodity futures market to higher transaction cost, price volatility and dent in investors' confidence after NSEL payment scam.
At present, there are four national and six regional commodity bourses in the country.