Despite ban in futures trading of four agricultural commodities in place for more than a year, the trading volume of 22 commodity exchanges across the country has grown by more than 13% in comparison to last fiscal.
According to data released on Monday by Forward Markets Commission (FMC), the regulator for the commodities exchanges, the trading volume of all the commodity exchanges for the forth-night during 1st May ? 15th May 2008, rose to Rs 1,68,814 crore from Rs 1,48,104 crore recorded during the same forthnight last fiscal.
Even the cumulative value of trade in commexes during the first forth-night of May during the current fiscal grew to Rs 5,06,629 crore from Rs 4,59,929 crore reported during the same period last fiscal, a rise of more than 10%.
During the forthnight, out of 24 commodities traded in the Mumbai based Multi Commodity Exchange (MCX), gold, crude oil and silver had the highest volume. The gold was traded at the highest Rs 12,155 per 10 grams on 15th May 2008 while the gold dipped to lowest rate at Rs 11,155 per 10 grams on May 2, 2008. In Mumbai based National Commodity & Derivatives Exchange (NCDEX), guar seed, RM seed and jeera had the highest volumes of trade out 28 commodities. In the NCDEX, jeera was traded at highest at Rs 11,340 per 100 kg on 7th May 2008 while the lowest price was at Rs 10,101 on May 2, 2008.
In the Ahmedabad based National Multi Commodity Exchange of India (NMCE), out of nine volumes traded, sacking, mustard seed and Isabgul seed had the highest volume. The FMC which complies data every forth night said that the MCX reported a turnover of Rs 1,44,344 crore while NCDEX recorded a business of Rs 20,490 crore during May 1-15, 2008.