Country’s largest commodity exchange MCX is planning to launch contracts in new agri commodities by end of this financial year, a company’s top official said.
MCX, which predominantly deals in metals and other non-agri commodities, at present offers future contracts in six agri-commodities — crude palm oil, kapasia khalli, kapas, cotton, mentha oil and cardamom.
“We are exploring the option of launching future contracts in some more agri-commodities and we are likely to start contracts in at least one new agri-commodity by end of current fiscal,” MCX Joint Managing Director P K Singhal told PTI.
Singhal also said that turnover of commodity exchanges including MCX is likely to increase in coming days.
“I think the commodity exchanges have already come out of tough times and in coming days the turnover and volumes are likey to go up. I am confident that MCX will continue to maintain its leading position.” Singhal added.
In current fiscal so far, the total turnover of MCX was Rs 30.66 lakh crore out of which Rs 29.95 lakh crore was from non-agri commodities and remaining Rs 71,268.7 crore was from agri-commodities.
In non-agri commodities, the exchange offers contracts in gold, silver, aluminium, copper, lead, nickel, zinc.
Besides these, the exchange also offers contracts in crude oil and gas.