The Hindu Business Line : Commodity exchanges Q1 turnover up 24%

Mumbai, July 11 The Government measures such as ban on futures trading in four commodities – soya oil, potato, rubber and channa – in May and mark up in transaction cost seems to have not affected trading.

Turnover in 22 commodity exchanges jumped 68 per cent to Rs 2.22 lakh crore in the fortnight ended June 30, against Rs 1.31 lakh registered in the same period last year, according to data released by the market regulator Forward Markets Commission (FMC). On a sequential basis, it was up 16 per cent.

For the first quarter ended June 30, turnover of the 22 exchanges increased 24 per cent to Rs 11.15 lakh crore (Rs 8.97 lakh crore).

The three national commodity exchanges – Multi Commodity Exchange of India Ltd (MCX), National Commodity & Derivative Exchange Ltd (NCDEX) and National Multi Commodity Exchange (NMCE) – contributed Rs 2.19 lakh crore, about 99 per cent of the total turnover of the 22 exchanges.

NEW COMMODITIES

“Apart from addition of new commodities for trading, the steep rise in some of the prices has helped exchanges maintain their growth tempo,” said an analyst.

Among agriculture commodities there were active trade in rapeseed, guar seed, soyabean, jeera, turmeric and pepper, while gold, silver, copper and crude oil also saw good trading interest in the fortnight under review.

Trade in crude palm oil, turmeric, soyabean, certified carbon emission and steel ingot picked up significantly.

MCX recorded a 14 per cent rise in turnover at Rs 1.92 lakh crore (Rs 1.68 lakh crore) in the fortnight ended June 30. In NCDEX, the turnover was up 26 per cent at Rs 26,425 crore, while it rose 12 per cent to Rs 1,133 crore in NMCE.

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