The Hindu Business Line : Commodity futures trade trebles in 2005-06

The total value of trade increased to Rs 21,34,000 crore, according to the Forward Markets Commission (FMC). In the previous fiscal, the value of trade stood at Rs 5,72,000 crore.

The three national multi-commodity exchanges — National Commodity and Derivative Exchange of India (NCDEX), Multi Commodity Exchange of India (MCX) and National Multi-Commodity Exchange of India Ltd (NMCE) — together accounted for 94 per cent of the trade in futures.

The NCDEX share was Rs 10,46,000 crore and MCX Rs 9,62,000 crore. FMC did not give figures for the Ahmedabad-based NMCE.

The top five commodities traded in the futures market in 2005-06 were gold, silver, guar seeds, channa and urad. There was significant growth in the trading volumes of other commodities also. At present, the futures trading is going on in about 90 commodities in the three national exchanges and 21 regional exchanges.

New contracts were introduced by various exchanges during the year, including furnace oil, sponge iron, polymer, isabgul seeds, cumin seeds, tea, barley, ethanol and cooking coal.

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