NCDEX's turnover halved in two weeks over castor seed futures default

Exchange says it's strengthening risk management, seeking feedback

The turnover at National Commodity & Derivatives Exchange (NCDEX), the country’s largest futures trading platform in agricultural commodities, has declined by 52.5 per cent in the past two weeks.

This follows dozens of client defaults in castor seed contracts. Total turnover fell below Rs 1,000 crore on Tuesday, from the Rs 2,179 crore recorded on September 30 but recovered a little on Wednesday and in day session it was Rs 1,035 crore. The share of castor seeds was a fourth of the total at end-September, or Rs 538 crore; it was Rs 75 crore on Tuesday or 8.9 per cent in