New Delhi: Commodity bourses' turnover dropped 60 per cent to Rs 20.17 lakh crore during April-July due to a fall in trading volumes in most commodities, according to the Forward Markets Commission.
The exchanges logged a business of Rs 50.29 lakh crore in the same period last year.
Much of the fall in futures trade volumes was witnessed in bullion, followed by energy, metals and farm items, as per the data released by the commodity markets regulator.
According to FMC data, the turnover from bullion fell 69 per cent to Rs 7.18 lakh crore in April-July this fiscal year from Rs 22.93 lakh crore in the corresponding period last year.
Similarly, the business from energy items like crude oil declined 67 per cent to Rs 4.31 lakh crore from Rs 12.93 lakh crore and the turnover from metals dropped 54 per cent to Rs 4.41 lakh crore from Rs 9.52 lakh crore.
The turnover from agricultural commodities declined by 15 per cent to Rs 4.15 lakh crore in the April-July period of this financial year from Rs 4.89 lakh crore in the year-ago period.
Experts said the fall in business at most of the exchanges' platform was due to imposition of commodity transaction tax since last year.
The dent in investor sentiment after the Rs 5,600-crore payment scam surfaced at National Spot Exchange Ltd (NSEL) also weighed, they added.
At present, five national and six regional level commodity exchanges operate in the country.
New Delhi: Commodity bourses' turnover dropped 60 per cent to Rs 20.17 lakh crore during April-July due to a fall in trading volumes in most commodities, according to the Forward Markets Commission.
The exchanges logged a business of Rs 50.29 lakh crore in the same period last year.
Much of the fall in futures trade volumes was witnessed in bullion, followed by energy, metals and farm items, as per the data released by the commodity markets regulator.
According to FMC data, the turnover from bullion fell 69 per cent to Rs 7.18 lakh crore in April-July this fiscal year from Rs 22.93 lakh crore in the corresponding period last year.
Similarly, the business from energy items like crude oil declined 67 per cent to Rs 4.31 lakh crore from Rs 12.93 lakh crore and the turnover from metals dropped 54 per cent to Rs 4.41 lakh crore from Rs 9.52 lakh crore.
The turnover from agricultural commodities declined by 15 per cent to Rs 4.15 lakh crore in the April-July period of this financial year from Rs 4.89 lakh crore in the year-ago period.
Experts said the fall in business at most of the exchanges' platform was due to imposition of commodity transaction tax since last year.
The dent in investor sentiment after the Rs 5,600-crore payment scam surfaced at National Spot Exchange Ltd (NSEL) also weighed, they added.
At present, five national and six regional level commodity exchanges operate in the country.
New Delhi: Commodity bourses' turnover dropped 60 per cent to Rs 20.17 lakh crore during April-July due to a fall in trading volumes in most commodities, according to the Forward Markets Commission.
The exchanges logged a business of Rs 50.29 lakh crore in the same period last year.
Much of the fall in futures trade volumes was witnessed in bullion, followed by energy, metals and farm items, as per the data released by the commodity markets regulator.
According to FMC data, the turnover from bullion fell 69 per cent to Rs 7.18 lakh crore in April-July this fiscal year from Rs 22.93 lakh crore in the corresponding period last year.
Similarly, the business from energy items like crude oil declined 67 per cent to Rs 4.31 lakh crore from Rs 12.93 lakh crore and the turnover from metals dropped 54 per cent to Rs 4.41 lakh crore from Rs 9.52 lakh crore.
The turnover from agricultural commodities declined by 15 per cent to Rs 4.15 lakh crore in the April-July period of this financial year from Rs 4.89 lakh crore in the year-ago period.
Experts said the fall in business at most of the exchanges' platform was due to imposition of commodity transaction tax since last year.
The dent in investor sentiment after the Rs 5,600-crore payment scam surfaced at National Spot Exchange Ltd (NSEL) also weighed, they added.
At present, five national and six regional level commodity exchanges operate in the country.
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