MUMBAI (Commodity Online): Bullion, Energy and Metals formed most part of the commodity exchange turnover, a reason why MCX is far ahead in volume.

But there is a change this August. Out of the total turnover of MCX, NCDEX and NMCE –which forms more than 95% of total trading turnover in India – agri commodities saw a growth of 119 per cent.

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It amounted to Rs 121619.44 crore and the non-agri business was far behind with a rise of mere 34.33 per cent to Rs 495865.40 crore out of a total growth of 45.40 per cent or in other words a turnover of Rs 6,17,484.83 crore.

The growth in agri commodity sector meant the share of MCX decreased as NCDEX is the major player in agri. MCX share in the turnover reduced from 86.14 in July to 79.08 per cent in August. The tag of non-agri comex seems to be fading away from MCX as is agri commodity volume rose 174 per cent.

At the same time NCDEX is also trying to shed its image as a agri only exchange and trying to promote its non-agri products but has not been able to do so if the figures are to be believed. Its non-agri volume plummeted from Rs 5,369.56 crore to Rs 1,432.71 crore in August.

At the same time NMCE with a new logo and new person at the helm of affairs have increased its volume significantly. As India’s first commodity exchange, some of the commodity futures it offers are unique, but limited to certain provinces.

NMCE’s main region is southern India, especially Kerala where it has a good presence. But its reach is getting far and wide as reflected from the turnover of Rs 35,958.73 crore in August from a totally negligible Rs 3,742.09 crore in the same month last year.

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