MUMBAI (Commodity Online): The total trading turnover in India’s commodity bourses witnessed a 50% surge in value terms, said the country’s commodity trading regulator Forward Markets Commission (FMC) on Thursday.
FMC said in its report that the cumulative value of trades from 1st April, 2009 upto 28th February 2010 for the financial year 2009-10 surged by 50% to Rs.69,72,216.73 crore as against Rs 46, 44,496 crore in the same period last year.
FMC said that the spurt in the turnover is because of increased trading in agricultures futures such as guarseed, soybean, soy oil and mustard seed as well as commodities such as energy and crude oil.
Among 23 commodity bourses, the country's leading exchange Multi Commodity Exchange's turnover soared up by 42% to Rs 57,67,386 crore during April-February of FY'10, against Rs 40,59,944 crore in the same period last year.
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The business of the leading agri-commodity bourse National Commodity & Derivatives Exchange rose significantly by 69% to Rs 8,33,444 crore from Rs 49,2761 crore, while that of NMCE's turnover scaled up by five folds to Rs 1,94,380 crore from Rs 39,625 crore in the review period, the data showed.
The new entrant ICEX made business of Rs 1, 01,301 crore since the launch of the exchange on November 21, 2009. The turnover of regional exchange National Board of Trade rose sharply to over Rs 25,000 crore so far this fiscal.
