NCDEX forwards witness consistent growth

Over 1,000 tonnes traded in forwards segment in July 2015

August 06, 2015 06:58 pm | Updated March 29, 2016 01:36 pm IST - CHENNAI:

The forwards segment on National Commodity and Derivatives Exchange (NCDEX), the leading commodity exchange in India has seen robust and consistent growth in July 2015 with 1,044 tonnes of agricultural commodities traded. Additionally, 12 kg. of gold was traded in the recently launched Gold Now forwards segment of the Exchange.

The forwards segment which was launched in September last year, has seen an encouraging response and has registered volume of 19,102 tonnes of agricultural commodities, valued at Rs. 87.39 crore, with 18,872 tonnes of goods delivered. The Gold Now forwards platform has seen 15 kg of gold traded and delivered since its launch.

Mr. Samir Shah, MD & CEO, NCDEX said “Exchange Traded Forwards are a path breaking innovation that will help in integration of the physical markets and bring about real inclusiveness in the real economy in commodities. Our mission is to bring national markets to farmers, mandi traders and buyers through the forwards platform.”

The futures segment of NCDEX also has been witnessing steady growth. The average daily trade value (ADTV) registered for the month of July 2015 was Rs. 4,080 crore. The open interest stood at Rs.7,729.17 crore. The Agri futures segment registered monthly total volume of Rs.91,245.03 crore. The top three commodities were Chana, Guar seed and refined soya oil with total traded volume of Rs.20,510.94 crore, Rs. 12,853.52 crore and Rs. 10,865.6 crore respectively. The total traded volume for Guar seed was Rs. 12,853.52 crores with 11.32 per cent rise month on month. The exchange has facilitated smooth delivery of 1,49,574 tonnes goods and 12 kg of Gold for the July expiry contracts.

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