Commexes turnover jumps 61 pct

The turnover of 23 commodity exchanges surged by 61 per cent to Rs 15,87,023 crore in the first two months of the current fiscal on the back of higher participation in bullion,metals and energy trade,according to the Forward Markets Commission (FMC) The turnover of commodity bourses stood at Rs 9,87,058 crore in the same period […]

The turnover of 23 commodity exchanges surged by 61 per cent to Rs 15,87,023 crore in the first two months of the current fiscal on the back of higher participation in bullion,metals and energy trade,according to the Forward Markets Commission (FMC) The turnover of commodity bourses stood at Rs 9,87,058 crore in the same period last year,it said in a statement.

The commodity market regulator FMC said that much of the business had come from futures trade in bullion,energy and metals.

In metals,trading in copper and zinc pushed up the turnover at exchanges more than two folds to Rs 4,34,633 crore in April-May of the 2010-11 fiscal,against Rs 1,79,356 crore in the same period last year.

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Higher participation in gold and silver increased the total business in the bullion segment by 62 per cent to Rs 6,99,833 crore. The turnover from farm commodities rose by 10 per cent to Rs 1,73,938 crore,while energy by 28 per cent to Rs 2,78,610 crore in the review period.

National level commodity exchanges — MCX,NCDEX,NMCE and ICEX together did a business of Rs 12,90,109 crore in the first two months of the current fiscal,the FMC said.

Currently,there are four national and 19 regional exchanges. Bullion and metals are largely traded on the MCX platform,while agricultural items on NCDEX.