The three leading commodity exchanges – the Multi Commodity Exchange (MCX), the National Commodity & Derivatives Exchange (NCDEX) and the National Multi-Commodity Exchange (NMCE) – recorded splendid turnover in August despite uncertainty over recovery in global economies that forced participants to play safe and hold back their investment and trading plans.
The three comexes that represent over 95% cent of India’s futures trade, witnessed 45.40% growth in turnover at Rs 6,17,484.83 crore in August 2009 as compared to Rs 4,24,666.28 crore in the corresponding month last year. Total agri business of the three exchanges soared 119% to Rs 121619.44 crore while non-agri business also advanced 34.33% to Rs 495865.40 crore.
MCX continued to remain the major contributor with a 79.08% contribution to the total turnover in August 2009. However, total business of the exchange grew 33.48% from Rs 3,65,820.22 crore to Rs 4,88,314.47 crore in the month under consideration.
The agricultural segment of MCX rose a phenomenal 174% to Rs 7,781.26 crore from Rs 2,839.80 crore while business from the non-agri segment stood at Rs 4,80,533.22 crore, up 32.39% from Rs 3,62,980.42 crore.
NCDEX’s overall turnover rose 69.16% to Rs 93,211.63 crore in August this year from Rs 55,103.98 crore in the same month of previous year. Business from agricultural commodities shot up by 84.54% to Rs 91,778.92 crore from Rs 49,734.42 crore, while turnover from non-agri segment plunged 73.32% to Rs 1,432.71 crore from Rs 5,369.56 crore.
The Ahmedabad-based NMCE reported a turnover growth of 861% at Rs 35,958.73 crore in August this year from a mere Rs 3,742.09 crore in the same month last year.