The exchange’s average daily turnover (ADT) more than quadrupled to Rs 2,905 crore in April 2021 compared to Rs. 698 crore in the same month a year ago. Average Open Interest also saw a strong increase of 92.13% year-on-year to 876,600 tonnes. The exchange delivered 44,646 tonnes of raw materials in April 2021, an increase of 43.58% year over year.
Refined soybean oil, RM seeds, chana, soybeans and cottonseed meal were the most traded derivative contracts during the month under review. The ADT value in refined soybean oil was Rs. 685 crores, making it the most traded agro-derivative contract in the country as of April 2021, while for RM Seed, the ADT was at Rs. 551 crores. . The Chana, soybean and cottonseed meal contracts posted ADTV of Rs. 506 crore, Rs. 474 crore and Rs. 246 crore, respectively, during the month.
ADT in the evening session topped Rs 200 crore in April 2021, indicating improved alignment of internationally referable commodities such as refined soybean oil, kapas and steel with the global market.
“Agri-derivatives markets are primarily intended for risk management by farmers, processors and traders. Staggering growth in our volumes over the past few months and in April in particular indicates that participants in the agribusiness value chain have used the NCDEX platform more aggressively to hedge during the extremely volatile agricultural commodity market ”, said Mr. Kapil Dev, Chief – Business & Products. More importantly, the surge in volume increases is a reflection of the tremendous confidence shown by market players despite the various challenges posed by the resurgence of the virus, Kapil Dev said.