NCDEX open interest grows 18% in October

The open interest on the National Commodity and Derivatives Exchange (NCDEX), the leading commodity exchange for October 2014 stood at Rs 6,813.73 crore, seeing an 18.04 per cent increase over the same period last year.

The average daily trading volume for the month stood at Rs 3,152.28 crore with 60,103 tonnes of commodities delivered through the exchange platform in the month, an NCDEX said.

For the agri segment, the monthly total volume was Rs 63,732.7 crore. The top three commodities were castor seed, refined soya oil and soya bean. The total traded volume for refined soya oil was Rs 12,224.62 crore, while that for soyabean was Rs 8,715.49 crore.

Castor seed futures clocked volumes of Rs 17,604.06 crore with over 46.62 per cent y-o-y growth. 10 tonnes guar seed has also seen a volume of Rs 4,668.31 crore with 166.78 per cent y-o-y growth.

In the recently-launched forwards contracts, 2,630 MT was traded on exchange with traded value of 4.09 crore during the period from September 25, 2014 to October 31, 2014. A total of 2,030 MT of commodities were delivered in the forwards segment.

Samir Shah, MD & CEO, NCDEX said, "We have witnessed growth in the open interest. We are introducing new contracts in our commodities basket".