Commexes turnover up 57.5% till July this fiscal

The turnover of 23 commodity exchanges in the country has risen by 57.5 per cent to Rs 53,11,356 crore as of July in the current fiscal on the back of increased trade in bullion and farm items, the Forward Markets Commission (FMC) has said.

The turnover stood at Rs 33,72,249 crore in the corresponding year-ago period, the FMC said in a statement today.

Much of the business volume came from futures trading in gold, silver, guar seed, chana and soya oil, it said.

According to the FMC data, turnover from bullion has more than doubled to Rs 30,57,508 crore till July this fiscal from Rs 15,19,559 crore in the corresponding year-ago period.

Turnover from agricultural items rose 56.43 per cent to Rs 5,89,893 crore from Rs 3,77,099 crore, while business from energy items jumped 31.32 per cent to Rs 8,25,432 crore from Rs 6,28,568 crore in April-July, FY’11.

However, the turnover from metals like copper has declined marginally to Rs 8,38,520 crore as of July of the 2011-12 fiscal from Rs 8,47,009 crore in the corresponding year-ago period.

During July, leading commodity bourse MCX did the maximum business of Rs 12,45,256 crore, followed by NCDEX (Rs 1,92,791 crore), ICEX (Rs 15,998 crore), ACE Derivatives and Commodity Exchange (Rs 13,089 crore) and NMCE (Rs 10,288 crore).

Currently, there are five national level and 18 regional commodity exchanges in the country. The commodity futures market did business worth Rs 119.48 lakh crore in 2010-11.