NCDEX average daily turnover value up 126% at Rs 1,945 crore in June

Mumbai: The National Commodity and Derivatives Exchange (NCDEX) on Friday said its average daily turnover value (ADTV) has increased more than two-folds in June to Rs 1,945 crore compared to the same month in 2020. In June 2020, NCDEX had posted an ADTV of Rs 860 Crore, NCDEX said in a statement.

“Continued trade disruptions notwithstanding, we have posted a strong performance in June helping a number of agri value chain participants to effectively manage their price and raw material risks through the exchange platform,” NCDEX Managing Director and Chief Executive Officer Arun Raste said.

In June, the Refined Soy Oil contract continued to be the country’s top agri-derivative contract for the 10th successive month.

The contract posted an ADTV of Rs 653 crore in June, up 267 per cent from Rs 178 crore posted in June 2020. The ADTV in Mustard rose 135 per cent in June to Rs 326 crore year-on-year and the same in Chana increased 129 per cent to Rs 277 crore.

Soybean contract posted an ADTV of Rs 199 crore, up 93 per cent year-on-year.

“The increase in trading volume and deliveries underlines the importance of agri-derivatives market as a place to manage price as well as raw material risks during trade disruptions. With Kharif plantations peaking this month, the exchange is ready to serve farmers and Farmer Producer Organisations (FPOs) to enable them to lock-in price of their harvests,” NCDEX Chief – Business and Products, Kapil Dev added.