BCE online futures turnover touches Rs 3.02 crore in 15 days

Our Commodities Bureau

Mumbai, Dec 9: The Bombay Commodities Exchange (BCE) online trading has witnessed a total volume of 1,155 metric tonne since it went online on November 25. In four commodities — RBD palmolein, refined sunflower oil, castorseed and groundnut premium seed — the exchange saw a turnover of Rs 3.02 crore. The new online trading platform offers trading in futures of 21 commodities.

According to the figures made available by BCE, the futures segment members showed maximum interest in trading futrues of RBD palmolein of which contracts for 840 tonne were traded. This was followed by castorseed futures (245 tonne), sunflower oil (40 tonne) and groundnut (30 tonne).

Trading started for the January 2002 contracts for RBD palmolein, refined sunflower oil and groundnut premium variety. Castorseed is the only commodity for which trading has started for the February 2002 contracts. Although, the volume of trade has been quite low, BCE CEO, Anjani Sinha is quite optimistic about an upturn soon. He says: “People are still learning how to trade on the online system. Once the comfort level is reached, more and more people will automatically start participating in the online trade.”

The past two weeks saw 60 January 2002 contracts being traded in RBD palmolein. The volume of trade was 840 metric tonnes valued at Rs 249.48 lakhs. RBD palmolein was quoted between Rs 296-299 per 10 kgs on the exchange.

Similarly, 6 January 2002 contracts in refined sunflower oil and 5 January 2002 contracts in groundnut premium seed were traded. While the volume of trade in refined sunflower oil was 40 metric tonne, that for groundnut premium seed was 30 metric tonne.
The value of trade for refined sunflower oil was Rs 17.02 lakhs and for groundnut premium seed, it was Rs 6.12 lakhs.

On the futures market, refined sunflower oil was quoted at around Rs 432-445 per 10 kgs and groundnut premium seed was quoted at Rs 2,000-2,060 per quintal (100kgs).