New Delhi: Country’s leading commodity bourse Multi Commodity Exchange (MCX) has recorded over 50% jump in its turnover during the first fortnight of June, while its rival NCDEX witnessed a sharp fall of 38% due to ban on certain agricultural commodities.
“The turnover shot up by 51.48% to Rs1,68,299 crore in value terms because of a rise in traders’ participation in bullion and crude oil trading,” the commodity market regular Forward Markets Commission said in a statement.
Even the volumes on the exchange has also spiked nearly seven-fold to 1.71 crore tonnes. “Of the traded commodities, gold, crude oil and sliver witnessed the highest volume,” it said.
Total value of trade in all gold contracts stood at Rs58,364 crore, while crude oil and silver recorded Rs58,197 crore and Rs30,705 crore respectively during 1-14 June period.
On the contrary, the turnover of the leading agricultural commodity bourse NCDEX fell significantly by 37.7% to Rs20,838 after the government suspended futures trading in chana, potato, soya oil and rubber to contain price rise.
Its volume also slipped by 18.22% to 73 lakh tonnes during the period under the review, the FMC data showed.
Among the regional bourses, the Indore-based National Board of Trade, which basically deal in soya oil showed a big slump in its turnover at Rs490 crore.
Despite ban and fears of commodity transaction tax, the total turnover of 22 commodity exchanges in the country has risen by 27.10% to Rs1,91,663 crore from previous year.