NCDEX trades touch Rs 2617cr

Commodity futures trading exchanges have been reporting rising volumes and in keeping with this trend, the Mumbai-based National Commodities and Derivatives Exchange of India (NCDEX) reported a record volume of Rs 2617 crore on December 8.

The largest volume, close to 48 per cent or Rs 1250 crore, was generated by guar seed.

Almost 30 per cent of trades worth Rs 790 crore came from silver, one of the more liquid contracts on the NCDEX.

Next in line was gold, with a 5 per cent share of trades worth Rs 131 crore.

Pulses like chana and urad, as well as soyabean, soyaoil, sugar, pepper, mustard seed and wheat contributed to the trading volume as well.

Silver volumes have been traditionally high on the exchange.

On Wednesday, NCDEX silver volumes stood at 707 tonne or 7,00,000 kilogram compared with 630 tonne traded on the Multi Commodity Exchange, which derives over 80 per cent of volumes from bullion. Gold saw a trade of about 1250 kg.

The managing director and the chief executive officer of NCDEX, P H Ravikumar, said, "We are glad to see the outstanding performance on the exchange."

NCDEX has tied up with Reliance Infocomm to disseminate prices to all mobile service subscribers.

The price information will include its near real-time spot as well as futures prices.

NCDEX prices can now be accessed on "R World" service of Reliance Infocomm.

"This joint initiative by NCDEX and Reliance Infocomm is providing value added service to customers", said Meher Baburaj, chief operating officer, NCDEX.

Price information is very critical for traders who can take advantage of price changes using real-time quotes, he added.Our Commodities Bureau