National Commodity and Derivative Exchange (NCDEX) has posted a 63 per cent increase in trading volumes in the second quarter of the current fiscal as against the corresponding period of the previous fiscal.
The exchange has fetched Rs 4.98 lakh crore in the second quarter of the current fiscal as against Rs 3.06 lakh crore in the corresponding period of the previous fiscal, Mr R. Ramaseshan, Managing Director and CEO, NCDEX, said.
Mr Ramaseshan, who was here today, told reporters that the exchange had also registered a 16-17 per cent growth in its daily turnover of value of commodities traded in the current fiscal. This year as on date, the daily turnover had touched Rs 5,000 crore against Rs 4,300 crore reported last year. The daily turnover had even crossed Rs 10,000 crore on certain occasions in the current year, he said, adding that NCDEX is trading 12-13 in commodities, which constitutes 80 per cent of the volume.
More than 80 per cent of the trading is from agriculture products. Non-agriculture products traded in the exchange included steel, gold and silver in limited quantities. The exchange is providing information to farmers. In the next stage, it expects farmers to actively involve in trading, he said.
To manage the agri trade, NCDEX through private parties has over 600 warehouses across the country. The company enlist private parties to operate these warehouses according to the norms set by the company.
Asked about plans to increase futures trading in rubber, he said NCDEX is planning to expand the warehousing facility for rubber and is trying to encourage more members to participate in the trading. NCDEX is focussing more on raising the trading volumes in the existing commodities rather than introducing new products at the moment. “Instead of launching new products, we believe that the existing contracts have lot of potential with healthy volume,” he added.
The exchange conducts several awareness programmes across the country for market participants and farmers to highlight the opportunities in the commodity space, he said.