India commodity turnover jumps 63.64 per cent

Turnover at commodity bourses in India, the world's biggest buyer of bullion and second largest wheat grower, jumped 63.64 per cent to Rs 144 lakh crore ($2.91 trillion) from April 1 to January 15, data from the regulator showed.

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The increase was spurred by volumes in bullion, which doubled to Rs 83.79 lakh crore, and farm commodities. Bullion volumes in value terms jumped 76 per cent to Rs 15 lakh crore from April 1 to January 15, the data showed.

India, which allowed futures trading in commodities in 2003, has one of the fastest growing commodity futures markets and aggregate turnover in 2009-10 was Rs 77.65 lakh crore. India, the second-largest rice growing nation, has 21 commodity bourses, including five operating at the national level.

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