Commexes turnover up 20% in Jan-Mar, led by bullion: FMC
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Commexes turnover up 20% in Jan-Mar, led by bullion: FMC

Last Updated: Thursday, August 23, 2012, 14:32
 
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Commexes turnover up 20% in Jan-Mar, led by bullion: FMC
New Delhi: The total value of trade in the commodity futures market rose 20 percent to Rs 44.03 lakh crore in the first three months this year, led by gold and silver, market regulator FMC has said.

"The value of trade during January to March 2012 was Rs 44.03 lakh crore as against Rs 36.78 lakh crore in the corresponding period last year," Forward Markets Commission (FMC) said in its latest bulletin.

Trading in bullion contributed a major share in the total value of trade in the market, it said.

The value of trade in bullion was the maximum at Rs 21.45 lakh crore as compared to other commodities.

Bullion is largely traded at MCX, the country's leading commodity bourse. The turnover from gold and silver was Rs 9.29 lakh crore and Rs 11.64 lakh crore, respectively, on the exchange in the review period.

While the value of trade in other metals on the 21 commodity exchanges was Rs 8.54 lakh crore in the January- March period, the turnover from farm items was at Rs 7.24 lakh crore and energy commodities at 6.80 lakh crore, the FMC data said.

FMC, which regulates 21 commodity bourses, said the five national level exchanges -- MCX, NCDEX, NMCE, ICEX and ACE -- made a total business of 43.87 lakh crore and the remaining 16 commodity exchanges achieved a turnover of Rs 0.16 lakh crore in the review period.

The regulator said that it granted permission to the exchanges to launch 54 commodity contracts both agricultural and non-agricultural items in the first three months of 2012.

Prominently traded farm items were refined soy oil, mustardseed, chana, soyabean and pepper, followed by mentha oil, guarseed, kapas, crude palm oil, guar Gum and cotton seed oilcake, it added.

To protect individual traders, the Commission said, it has issued directives to the national exchanges for setting up of Investor Protection Fund, sending every day details of trade to traders and quarterly settlement of individual trader's account by brokers.

PTI



First Published: Thursday, August 23, 2012, 14:29


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