New Delhi: A turnover of a staggering Rs 175 lakh crore -- that is what commodity exchanges are set to achieve in 2011 with glittering contributions from bullion, primarily gold and silver.
The year has been a marvellous one for commodity bourses, trading on which was re-introduced in April 2003, with turnover in the commodity futures market rising every month, thanks to rising gold prices which went from from Rs 20,700 per 10 grams, to over Rs 29,000 during the course of 2011.
"The overall turnover of commodity exchanges is expected to reach Rs 175 lakh crore by the end of 2011," said a senior official of the commodity markets regulator Forward Markets Commission (FMC).
A turnover of Rs 175 lakh crore, is a jump of 67 per cent from a little over 104,00,000 crore last year.
The official attributed the rise in turnover of the 23 commodity exchanges in the country, including...
