The National Commodity and Derivatives Exchange has reported a 47 per cent enhance in average daily turnover at ₹1,857 crore within the monetary yr ended March 2022 in opposition to ₹1,261 crore logged within the earlier fiscal.
This was largely pushed by sharp spike in agriculture commodity costs final yr as a result of provide chain disruptions.
The ADTV on the commodity bourse had crossed the pre-pandemic degree of ₹1,794 crore. The progress was despite suspension of some top-traded contracts comparable to soya complicated, mustard and chana amongst others, mentioned the alternate.
The alternate maintained its management place within the agriculture derivatives phase with a market share of 80 per cent.
Higher participation
Arun Raste, Managing Director and Chief Executive Officer, NCDEX, mentioned the monetary efficiency of the alternate highlights resilience, threat administration behaviour of market members, particularly in agriculture sector when the commodity market is passing by way of a troublesome part as a result of unprecedented geopolitical turmoil.
The open curiosity, a barometer to gauge the seriousness of market members, elevated 32 per cent to ₹3,554 crore (₹2,695 crore).
Kapil Dev, Chief Business Officer, NCDEX, mentioned it was a difficult yr for the agriculture derivatives ecosystem on account of suspension of some key commodity spinoff contracts.
However, he mentioned throughout uncertainty and excessive volatility worth chain members want the derivatives market much more for threat administration and that is evident by elevated participation in all commodities, he mentioned.
The alternate has linked over 1,000,000 farmers to the alternate platform by way of over 400 Farmer Producer Organisations (FPOs).
The agricultural panorama is witnessing a fast change with exports crossing the $50 billion-mark final yr and India rising as a key sourcing hub for a lot of farm merchandise. This transition will definitely result in elevated alternative for the alternate, he mentioned.
Published on
April 21, 2022