Commodity futures trading volume up in ’07

Feb 29 2008, 00:25 IST
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SummaryThe total volume of trade in the commodity futures market rose from Rs 34.84 lakh crore in 2006 to Rs 36.54 lakh crore in 2007, notwithstanding the suspension of trading in wheat, rice, urad and tur.

The total volume of trade in the commodity futures market rose from Rs 34.84 lakh crore in 2006 to Rs 36.54 lakh crore in 2007, notwithstanding the suspension of trading in wheat, rice, urad and tur.

Commodities, which were traded in the commodity futures market during 2007, included a variety of agricultural commodities, spices, metals, bullion and crude oil, according to the Economic Survey 2007-08 released on Thursday.

The daily average value of trade in the exchanges improved from Rs 13,000 crore during 2006 to more than Rs 15,000 crore in 2007. While the commodities traded at the exchanges included major agricultural commodities, major share of the turnover was accounted for by spices, crude oil and natural gas, the Survey said.

The MCX continued to be the largest commodity futures exchange during 2007 both in terms of turnover volume and number of contracts.

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