March 12, 2011 / 11:23 IST
Commodity futures turnover from April 2010 to February surged 51.9% on year to Rs 105.9 trillion, helped by trading in bullion and metals, though agri-commodities turnover rose a tad, the regulator said in a statement.
The total value of trade in bullion surged 69.62% to Rs 48.2 trillion, while that for metals rose 54.04% to Rs 24.15 trillion, the Forward Markets Commission said.Turnover in agri-commodities rose a tad by 16.6% to Rs 12.8 trillion.Gold and silver have been on a record-breaking spree due to safe-haven buying in the precious metals complex, spurring volumes in futures exchanges.India, which allowed futures trading in commodities in 2003, has one of the fastest growing commodity futures markets and had a combined turnover of Rs 77.65 trillion in 2009/10. India, the biggest buyer of bullion and second-largest wheat and rice growing nation, has 21 commodity bourses, including five operating at the national level. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!