With less than a month left before the suspension of futures in four farm commodities comes up for review, and despite faint indications that the government might extend the suspension, the turnover in India?s commodity exchanges showed no signs of slowing down.
According to the latest data from the Forward Market Commission (FMC), commodity exchanges recorded a 40.23% jump in their turnover at Rs 16,54,442 crore till July 2008-09, against Rs 11,79,765 crore during the corresponding period in 2007-08.
During July 16-31, the total turnover of the three national exchanges and 19 regional exchanges increased by 82.67% at Rs 3,01,269 crore compared with the year-ago period, the FMC said in a release.
According to FMC data, the turnover of the MCX, the country?s leading exchange, stood at Rs 2,55,191 crore, while leading agri-commodity bourse, NCDEX, recorded a business of Rs 42,296 crore. Other national level exchanges like the Ahmedabad-based NMCE, registered a turnover of Rs 1,114 crore.