Trading turnover of all the commodity exchanges in India is expected to grow by 44.24 per cent in the current fiscal to reach Rs 112 lakh crore, according to the Forward Markets Commission (FMC).

“The overall trading turnover of commodity exchanges in the country will be more than 112 lakh crore in the current fiscal,” the FMC Chairman, Mr B.C. Khatua, told reporters here today on the sidelines of an event organised by industry body Assocham.

He said during the last fiscal, the total turnover of commexes stood at Rs 77.64 lakh crore. Trading turnover has already crossed Rs 88 lakh crore in the current fiscal in the first fortnight of January.

“We still have five fortnight period left in the current fiscal and I am sure that it would easily cross Rs 112 lakh crore,” Mr Khatua said.

He, however, expressed concern over the slow growth in the trading turnover of agri-commodities in exchanges.

“We are yet to touch the trading level of 2006-07 fiscal in agri-commodities...this year also, trading in agri-commodities are expected to grow by 7 per cent only,” Mr Khatua said.

According to information available on FMC website, the turnover of commodity exchanges in the country during the first nine months of the current fiscal rose nearly 50 per cent to 82.7 lakh crore.

The surge in commexes’ turnover during the current fiscal is mainly driven by surge in bullion prices, which pushed the turnover of precious metals on exchanges by nearly 70 per cent to 37.5 lakh crore compared with Rs 22.1 lakh crore in the corresponding period last fiscal, FMC said.

Besides, the total trade of metals other than bullion on the exchanges during April-December period also rose 64.4 per cent to Rs 19.37 lakh crore.

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