India Commodity Turnover Climbs 31% on Farm Goods Trading Surge
Share Email Print A A A
By Thomas Kutty Abraham
Sept. 16 (Bloomberg) -- Turnover on the Multi Commodity Exchange of India Ltd. and its rivals expanded 31 percent in the April-August period, led by a surge in trading of farm goods.
Commodities worth 27.3 trillion rupees ($559 billion) were traded in the five-month period, compared with 20.8 trillion rupees a year earlier, the Forward Markets Commission, which regulates the country’s 21 commodity exchanges, said in a statement on its Web site.
Trading in agricultural commodities surged 56 percent to 4.4 trillion rupees in the five months to Aug. 31 after the government ended a ban on soybean oil, rubber, potato, chickpea and wheat futures. Trading in gold and silver dropped 5 percent to 10 trillion rupees, the market regulator said.
Contracts worth 3.04 trillion rupees changed hands on the exchanges in the two weeks ended Aug. 31, up from 2.03 trillion rupees in the same period a year earlier, the regulator said.
Domestic traders, producers and consuming companies are the main participants in India’s commodity exchanges. Overseas funds aren’t allowed to trade commodity futures.
Wednesday, September 16, 2009
Subscribe to:
Post Comments (Atom)
Informative
ReplyDeleteI think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. csgo skin trading
ReplyDeleteWhat a fantabulous post this has been. Never seen this kind of useful post. I am grateful to you and expect more number of posts like these. Thank you very much. crypto trading bot
ReplyDelete