Commexes’ turnover falls for first time in 5 yrshttps://indianexpress.com/article/news-archive/web/commexes-turnover-falls-for-first-time-in-5-yrs/

Commexes’ turnover falls for first time in 5 yrs

For the first time in last five years,the turnover of the commodity exchanges fell by 6 per cent to Rs 170.46 lakh crore in the 2012-13

For the first time in last five years,the turnover of the commodity exchanges fell by 6 per cent to Rs 170.46 lakh crore in the 2012-13 fiscal due to sluggish participation in gold and silver futures,according to the commodity markets regulator FMC.

During 2011-12,the combined turnover of 20 commodity bourses had grown by more than 50 per cent to Rs 181.26 lakh crore,it said.

Maximum fall was seen in bullion futures,while agriculture commodities witnessed a marginal drop during the 2012-13 financial year,the FMC said in a statement.

As per the FMC data,the cumulative business at commodity bourses has taken a hit for the first time in the last five years. The turnover has been growing each year since 2007.

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During 2010-11 and 2011-12,the business had grown by more than 50 per cent.

The major drop in bullion futures was because of high price volatility that prompted investors to stay away from the markets,experts said.