MUMBAI (Commodity Online): Futures trading in commodities in India is zooming, if statistics from apex commodities futures trading regulatory body Forward Markets Commission (FMC) is any indication.

The turnover of commodity exchanges in India surged by 28.87 per cent to Rs 2,424,596 crore during the first four and a half months of the current fiscal due to an increased participation in energy and farm commodities.

An FMC statement said that the turnover stood at Rs 1,881,364 crore in the corresponding period previous year.

A rise in the turnover is mainly due to a significant jump in the futures trading of agricultural commodities as well as in energy contracts such as natural gas, the commodity market regulator FMC said.

During the first four and a half months of the current fiscal, the turnover from farm commodities has increased 49.34 per cent to Rs 3,84,549 crore from Rs 2,57,503 crore in the corresponding period last year, as per the FMC data.

While the turnover from other commodities such as natural gas has increased by whopping 66.35 per cent to Rs 1,120,639 crore from Rs 6,73,676 crore, it said.

Between August 1 and 15, the futures trading in three national level commodity exchanges and 20 regional bourses stood at Rs 3,00,959 crore during the first fortnight of the current month, up by 32.63 per cent, compared to the year-ago period.

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