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The NCDEX sugar futures average daily trading volume witnessed a 140% rise in the last fortnight. The average daily trading volume increased from Rs. 46.31 Crore in February 2014 to Rs. 112.67 Crore as of March 13th, 2014. The total traded volume also increased substantially over the period, from 3,80,230 MT in February to 4,14,850 MT as of March 13th. Open interest in sugar futures contracts rose above 1,00,000 MT, indicating increased participation and trust in the exchange. The rise in sugar contract trading is seen as reflecting underlying supply and demand fundamentals in the market.
The NCDEX sugar futures average daily trading volume witnessed a 140% rise in the last fortnight. The average daily trading volume increased from Rs. 46.31 Crore in February 2014 to Rs. 112.67 Crore as of March 13th, 2014. The total traded volume also increased substantially over the period, from 3,80,230 MT in February to 4,14,850 MT as of March 13th. Open interest in sugar futures contracts rose above 1,00,000 MT, indicating increased participation and trust in the exchange. The rise in sugar contract trading is seen as reflecting underlying supply and demand fundamentals in the market.
The NCDEX sugar futures average daily trading volume witnessed a 140% rise in the last fortnight. The average daily trading volume increased from Rs. 46.31 Crore in February 2014 to Rs. 112.67 Crore as of March 13th, 2014. The total traded volume also increased substantially over the period, from 3,80,230 MT in February to 4,14,850 MT as of March 13th. Open interest in sugar futures contracts rose above 1,00,000 MT, indicating increased participation and trust in the exchange. The rise in sugar contract trading is seen as reflecting underlying supply and demand fundamentals in the market.
NCDEX sugar futures ADTV witness 140% rise in last fortnight
Mumbai, March 14, 2013: NCDEX, the leading commodity exchange is increasingly seeing greater interest by participants in its Sugar contract recording a substantial increase of ADTV over 140% during last fortnight. The total Volume of trade in sugar contracts also witnessed substantial rise during this period.
The Exchange recorded ADTV of Rs. 112.67 Crore till 13 th March, 2014, compared to ADTV of Rs. 46.31 Crore in February, 2014. In terms of quantity, the Exchange recorded 4,14,850 MT of traded volume till 13 th March, 2014 compared to 3,80,230 MT in February, 2014.
Along with achieving wide participation, liquidity and efficient price discovery in Sugar futures, the Exchange has recorded open interest of more than 1,00,000 MT. The rising participation in Sugar futures is an indication of the trust that the market participants repose on the Exchange. Sugar is one of the active contracts on the Exchange platform.
Another noteworthy point is that the increased turnover in Sugar contracts since last 2/3 weeks is reflection of the underlying fundamentals. It is observed that trading in futures contracts has seen increased participation due to market expectations relating to demand/supply dynamics.
The NCDEX while offering of a full range of contracts, both agri and non-agri commodities, has recently launched Gold Hedge (Rs. 4424.85 Crore since launch) Silver Hedge (Rs. 248.37 Crore since launch), contracts in nonagri segment as well as Castor seed 1MT and Chana 1MT futures contracts in agri segment, which have attracted market interest and wide participation.
ABOUT NCDEX:
As Indias leading online exchange, NCDEX is where customers repose trust. It offers the widest range of benchmark products across agriculture, metals and precious metals. NCDEX brings buyers and sellers together through its electronic trading platform. With a widely held shareholding, it enjoys the distinction of being the only exchange in the country promoted by national level institutions. The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience, trust, nationwide reach, technology and risk management skills. Key High lights:
Average Daily Sugar Volume of trade increased from 16532 MT (Feb-14) to 37714 MT (up to 13 th Mar-14)
Open Interest of sugar futures rose from 83400 MT (As on 28 th Feb-2014) to 1,10,150 MT (As on 13 th Mar-2014)
ADTV of sugar contracts increased from Rs. 46.31 Cr. (Feb-14) to Rs. 112.67 Cr. (13 th Mar-14).
Increased participation in recently launched products like Gold Hedge, Silver Hedge, Castor seed 1 MT and Chana 1 MT futures.
For further details contact:- Shalaka Kagathra / Kalpesh Sheth Corporate Communications, NCDEX 9820572798/ 9820305936