Date:09/01/2007 URL: http://www.thehindubusinessline.com/2007/01/09/stories/2007010900791400.htm

Back Commodity futures turnover up

Our Bureau

Mumbai, Jan. 8

Commodity trading continued to grow with the turnover registering a 40 per cent growth to Rs 27,39,340.36 crore between April and December, 2006 against Rs 19,56,008.42 crore for the fiscal April 2005-March 15, 2006. The three national commodity exchanges - MCX, NCDEX and NMCE — accounted for a substantial part of the turnover.

Commodity exchanges were blamed for the rise in essential commodity prices prompting the regulator to clamp various trade restrictions. Experts argued that the prices rose because of a demand-supply mismatch following major crop failures. Total turnover for the fortnight December 16-30 stood at Rs 1,06,462.54 crore. During the period, MCX registered a turnover of Rs 68,904 crore, NCDEX score card stood at Rs 31,756 crore while at NMCE it was Rs 853 crore.