Commodity Online
NEW DELHI: Even after the government’s ban on Futures trade in several commodities, the turnover of commodity exchanges in India shot up to Rs 11.15 lakh crore in the first quarter of the current fiscal, a growth of 24 per cent over the same quarter last fiscal.

This has undoubtedly established the strength of growing commodity market in India. What helped the growth in commodities seems to the fall of stock market in India.

Fearing major losses in the Sensex, investors put their money in commodities, which have been witnessing major growth for the past few years in the country.

According to Forward Market Commission, the cumulative value of trade from April 2008 up to June, 2008 for the financial year 2008-09 was Rs 11,15,326.99 crore.

In the first quarter of the previous fiscal, the turnover stood at Rs 8,97,816.52 crore.

During the fortnight ending June 30, turnover rose 68 per cent to Rs 2.21 lakh crore, against 1.31 lakh crore.