Commexes turnover dips by 4.5% during Apr-Oct of FY'13
Quotes

Commexes turnover dips by 4.5% during Apr-Oct of FY'13

Last Updated: Monday, November 19, 2012, 17:55
 
 Comment 0
 
Commexes turnover dips by 4.5% during Apr-Oct of FY'13
New Delhi: The turnover of the country's 21 commodity exchanges declined marginally by 4.53 percent to Rs 101.55 lakh crore till October of the current fiscal due to lower participation in bullion trade, according to the Forward Markets Commission (FMC).

These exchanges had made a business of Rs 106.36 lakh crore in the same period last year, the commodity markets regulator FMC said in a statement.

Barring bullion, there was substantial jump in the turnover of energy, metals and farm items during the period under the review, the FMC said.

Business from energy items like crude oil rose by 42 percent to Rs 22.51 lakh crore during the April-October period of the 2012-13 fiscal, as against Rs 15.84 lakh crore in the same period last year.

While the turnover from metals like copper increased by 21.25 percent to Rs 18.73 lakh crore from Rs 15.45 lakh crore, business from farm items rose by 27.51 percent to Rs 13.81 lakh crore from Rs 10.83 lakh crore in the period under the review, according to the FMC data.

However, the turnover from bullion fell by 27.63 percent to Rs 46.48 lakh crore till October of the current fiscal from Rs 64.23 lakh crore in the year-ago.

The regulator said special margins to the tune of 20 percent have been removed effective from October 20 on turmeric traders keen to buy the commodity through November and December contracts on the NCME and NMCE platforms.

FMC also said the government's advisory panel, which met for the first time on October 16, has suggested relaunch of guar futures, which were banned since March this year.

"The Committee members put forward many useful suggestions on increasing hedging, benefits to farmers, and for better alignment of future market with physical market. They also suggested allowing the relaunch of Guar contracts," the Commission said.

At present, the country has five national and 16 regional level commodity exchanges in the country. Recently, the FMC gave approval to the Universal Commodity Exchange to operate as a national bourse.

PTI



First Published: Monday, November 19, 2012, 17:52


Comments


comments powered by Disqus
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Google I/O 2014
Google I/O 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved