Open interest on NCDEX up 15 pc in Sept 2014

The open interest on the National Commodity and Derivatives Exchange (NCDEX) for September 2014 stood at Rs 6,411.92 crore, seeing a 15.25 per cent increase over the same period last year.
The ADTV for the month stood at Rs 3,796.32 crore. With 72,621 MT of commodities delivered through the exchange platform in the month, NCDEX said in a statement here.
For the agri segment, the monthly total volume was Rs 80,440.61 crore. The top three commodities were castor seed, refined soya oil and soyabean. The total traded volume for refined soya oil was Rs 16,114.76 crore, while that for soyabean was Rs 9,425.06 crore.

Castor seed futures clocked volumes of Rs 19,520.15 crore; with over 60.38 per cent yoy growth. The 10 MT guar seed has also seen excellent participation; clocking a volume of Rs 6,635.68 crore, 116.67% yoy growth.
NCDEX gold hedge has been growing steadily; average OI for September 2014 was 1073 lots; showing a 51.13 per cent increase month on month as compared to August 2014. The contract shows 99.20 per cent correlation with International price discovery markets.
The exchange has successfully launched the forward contracts. It has clocked Rs. 2.03 crore of volume with traded quantity of 940 MT in 20 trades at the end of first week of the trade.

Samir Shah, MD & CEO of NCDEX said, "The forwards segment is a bet on the future of India's food and agricultural economy. The exchange has started forward contracts with sugar and maize and will introduce more commodities soon.