The Hindu Business Line : H1 agri commodity futures turnover down 32%

Mumbai, Oct.14 With the ban on futures trading in wheat, urad, tur, rubber, chana, soyoil and potato still lingering, the turnover of agriculture commodity futures on the national exchanges fell 32 per cent to Rs 31.91 lakh crore in the first half of the Fiscal Year 2008-09 against Rs 46.86 lakh crore in the same period last year, according to the Forward Markets Commission data.

In the fortnight ended September 30, the agriculture commodity turnover on the national exchanges fell 11.48 per cent to Rs 23,152 crore against Rs 26,155 crore in the same period last year.

Besides the ban of futures trading in most of the important agriculture commodities, the recent fall in prices of farm commodities might have led to the drop in turnover, said an analyst.

Turnover of 22 commodity exchanges was up 28 per cent to Rs 2.83 lakh crore in the fortnight ended September 30, against Rs 2.21 lakh crore registered in the preceding fortnight. It rose 99 per cent on year-on-year basis.

In the first half of the fiscal year 2009, turnover of the commodity exchanges rose 48 per cent to Rs 25.89 lakh crore against Rs 17.55 lakh crore recorded in the same period last year.

Bullion up sharply

Cumulative bullion turnover jumped 194 per cent to Rs 1.80 lakh crore (Rs 61,032 crore), while in the first half of FY09 it was up 133 per cent to Rs 13.70 lakh crore (Rs 5.87 lakh crore).

Turnover of other commodities including energy and metals improved 29 per cent to Rs 8.99 lakh crore (Rs 6.98 lakh crore) in the first half of FY09.

MCX registered a 30 per cent rise in turnover to Rs 2.56 lakh crore in the fortnight under review against Rs 1.98 lakh crore in the preceding fortnight. NCDEX turnover was up 13 per cent to Rs 23,348 crore (Rs 20,751 crore) in the fortnight ended September 30, while NMCE turnover had increased 20 per cent to Rs 1,422 crore (Rs 1,182 crore).

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