After falling for two years, futures trading in agri-commodities recovered in 2009 and grew by 48 per cent at Rs 10.88 lakh crore over the previous year on the back of the government lifting ban on five farm items, the Economic Survey said today.
"Agriculture commodity futures staged a remarkable recovery after steady decline over the last two years," the pre-budget statement on the health of the economy said.
The turnover from agri-futures alone rose by 48 per cent to Rs 10.88 lakh crore in 2009 from Rs 5.22 lakh crore in the previous year, it said.
The survey noted that the year 2009 started on an optimistic note as the government removed the suspension on futures trading in chana, soy oil, rubber and potato in December 2008, while the ban on wheat was lifted in May 2009.
The suspension on sugar futures, however, will remain till September this year, it added.
According to the survey, total value of trade in the commodities futures market rose to Rs 70.90 lakh crore in 2009 from Rs 50.34 lakh crore in 2008.
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The Multi Commodity Exchange (MCX) recorded the highest turnover of Rs 59.56 lakh crore in 2009, followed by NCDEX at 8.05 lakh crore and NMCE at 1.95 lakh crore, it said.
Farm commodities, bullion and energy accounted for a large share of the items traded in the commodities futures market last year.
Currently, there are four national level and 19 regional commodity exchanges in the country.