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Exchanges report 38% decline in daily average commodity volumes in May

Lockdown, negative price fiasco at MCX among slew factors cited as reasons for decline

Workers installs LED bulbs for the 1st time in place of incandescent light bulbs at Parliament House ahead of the Independence Day celebrations in New Delhi.
Workers installs LED bulbs for the 1st time in place of incandescent light bulbs at Parliament House ahead of the Independence Day celebrations in New Delhi.

Indian exchanges have reported 38 per cent decline in commodity derivatives business since the Covid-19 pandemic started spreading across the country. Between February and May, the daily average turnover in commodity futures trading slumped by 38%. India’s largest commodity exchange, the Multi Commodity Exchange of India (MCX), reported its daily average turnover (DAT) at Rs 15,658 crore in April 2020, the lowest since 2013. One reason is that after negative price settlement in crude oil ...