India's commodity exchanges grow 4% despite fall in bullion trade

The turnover of commodity exchanges in the country rose marginally by around 4 percent to Rs 26.90 lakh crore in the first two months of the current fiscal despite a sharp fall in bullion trade, according to the Forward Markets Commission (FMC).

The turnover of these bourses stood at Rs 25.97 lakh crore in the same period last year, it said in a statement.Much of the business has been generated in farm commodities, metals and energy items like crude oil. However,there was a sharp decline in business volumes in gold and silver.

According to the data released by FMC, the turnover from agricultural commodities grew by 44 percent to Rs 3,45,052 crore in the April-May period of the 2012-13 fiscal from Rs 2,40,339 crore in the year-ago period.

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[caption id=“attachment_337047” align=“alignleft” width=“380” caption=“Much of the business has been generated in farm commodities, metals and energy items like crude oil. Reuters”]  [/caption]

Similarly, business from metals like copper grew by 41 percent to Rs 5,60,612 crore from Rs 3,98,518 crore, while the turnover from energy items increased by 42 percent to Rs 4,87,617 crore from Rs 3,43,930 crore in the reviewed period.

However, the turnover from bullion fell by around 20 percent to Rs 12.97 lakh crore during the period, as against Rs 16.15 lakh crore in April-May, 2011.

There are five national – MCX, NCDEX, NMCE, ICEX and ACE – and 15 regional commodity exchanges in the country.

PTI