NCDEX market share tops 80pc in April

An astounding growth in our volumes since last few months and April in particular indicates that agri value chain participants have been using the NCDEX platform more aggressively for hedging during the extremely volatile agri-commodity market, NCDEX Chief - Business and Products Kapil Dev said.

PTI | New Delhi | Updated: 04-05-2021 15:13 IST | Created: 04-05-2021 15:13 IST
NCDEX market share tops 80pc in April

Leading agri-commodity bourse NCDEX on Tuesday said it witnessed an all-round increase in its operations in April this year with market share crossing 80 per cent in that month, showing strong resilience to the disruptions in the agri-ecosystem due to the COVID-19 pandemic. NCDEX, in a statement, said its average daily turnover in value terms more than quadrupled to Rs 2,905 crore in April 2021 from Rs 698 crore in the year-ago period.

The delivery of commodities on the exchange platform rose 43.58 per cent to 44,646 tonnes on a year-on-year basis, it said.

Refined soya oil, mustard seed, chana, soyabean and cottonseed oilcake were the top-traded derivatives contracts during the month under review. “Agri-derivatives markets are primarily for risk management by farmers, processors and traders. An astounding growth in our volumes since last few months and April in particular indicates that agri value chain participants have been using the NCDEX platform more aggressively for hedging during the extremely volatile agri-commodity market,” NCDEX Chief - Business and Products Kapil Dev said. More importantly, the multi-fold rise in the volume is a reflection of a tremendous trust shown by the market participants despite various challenges being raised by the rising Covid-19 cases, he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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