SEBI Report
Commodity derivatives turnover rises 87% in FY24, says SEBI
This story was originally published at 16:11 IST on 12 August 2024
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MUMBAI – Commodity derivatives turnover across Indian exchanges rose nearly 87% to 280.6 trln rupees in 2023-24 (Apr-Mar), the Securities and Exchange Board of India said in its annual report. The turnover of the National Commodity and Derivatives Exchange fell slightly, while that on BSE plunged, the report showed.
The turnover of the Multi Commodity Exchange of India, which accounted for nearly 99% of the total, rose 87.1% to 276.6 trln rupees in 2023-24. The turnover of the National Commodity and Derivatives Exchange fell 0.4% to 2.06 trln rupees and that of the BSE fell over 99% to 360 mln rupees. The turnover on the National Stock Exchange surged to 2.01 trln rupees from 177.6 bln rupees, the report showed.
The overall notional turnover of commodity options contracts increased 160.9% to 228.6 trln rupees in 2023-24, the report showed. "The turnover in options contracts increased mainly due to a surge in the turnover of bullion and energy options at MCX by 325.5% and 148.3%, respectively and also due to the introduction of WTI Crude Oil options contract at NSE," it said.
The turnover of futures contracts declined 16.8% to 51.9 trln rupees in 2023-24, the report said. The futures segment contributed 18.5% to the total commodity derivatives turnover, compared to 41.6% in the previous year, according to the report.
The non-agri segment recorded a turnover of 278.5 trln rupees in 2023-24, up 88.4% from the previous year. Within the segment, turnover of energy contracts increased 110.3% to 219.2 trln rupees and that of bullion contracts rose nearly 60% on year to 54.5 trln rupees. However, turnover of base metal contracts fell 49% from the previous year to 4.9 trln rupees, it said.
The agri segment's turnover declined 8.1% to 2.1 trln rupees in 2023-24, the report said. The report did not give commodity-wise turnover for the agriculture segment.
The quantity of physical delivery of agri commodities during 2023-24 was 204,817 tn, down 15.5% from the previous year. However, the physical delivery increased in the bullion and base metals segments by 36.7% and 11.7%, respectively.
The quantity of physical delivery was the highest in the case of NCDEX cotton seed oil cake at 84,630 tn, followed by the NCDEX castor seed and guar seed at 37,380 tn and 26,185 tn, respectively.
On the MCX platform, the highest delivered quantity was aluminium at 24,755 tn, followed by zinc at 23,990 tn and copper at 23,317 tn, the report showed. In bullion, the delivery of gold and silver was 7 tn and 530 tn, respectively. End
Reported by J. Navya Sruthi
Edited by Saji George Titus
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