Mumbai (Maharashtra) [India], June 5 (ANI): National Commodity and Derivatives Exchange (NCDEX) said on Saturday it clocked over three-fold jump in its average daily turnover value (ADTV) to Rs 2,139 crore in May despite heavy disruptions in spot market amid lockdowns across the country.
The exchange retained its number one position in agri-derivatives space with a market share of 79 per cent.
In May last year, NCDEX had posted an ADTV of Rs 588 crore after a complete pan-India lockdown during the first wave of Covid-19 outbreak caused supply chain disruptions.
ADTV in mustard futures contract rose 554 per cent year-on-year last month while the same in chana, refined soy oil and soybean posted a rise of 398 per cent, 362 per cent and 202 per cent respectively.
Open interest in chana futures contract was at 22-month high of 184,700 tonnes on May 11.
At an ADTV of Rs 602 crore, refined soy oil retained its status as India’s top traded agri-derivative contract for ninth month in row.
NCDEX said it delivered over 46,400 tonnes of commodities in May, marking a rise of 119 per cent year-on-year despite logistical hurdles.
“Higher trading volume during the lockown is a reflection of faith of agri-value chain participants on the exchange as a platform to mitigate their price risks in a challenging trade environment and enhanced volatility,” said Kapil Dev, Chief of NCDEX business and products division.
“As we enter the kharif plantation season backed by normal monsoon forecast, we expect the momentum to accelerate further with more participation from farmers and farmer producer companies,” he said in a statement.
NCDEX is a leading agricultural commodity exchange in India which offers services across the entire post-harvest agricultural commodities value chain. (ANI)