The sales turnover on National Commodity and Derivatives Exchange’s (NCDEX) electronic spot trading platform ‘NSPOT’ is likely to more than doubled to Rs 7,000 crore this fiscal, ending March 31. The turnover at its spot platform last fiscal, 2012-13, stood at Rs 2,685.23 crore. NCDEX spot exchange (NSPOT) is wholly owned subsidiary of NCDEX, and has presence in nine states.
The Commodity bourse is also planning to launch small contracts of one tonne of guar seed and channa in early March as they have already got the approval from Forward Markets Commission (FMC) for the same. These smaller future contracts of one tonne will be available along with bigger future contracts of 10 tonnes. The bourse is also looking at the options of launching contracts on aluminium, tin, lead, iron ore and coal in the coming days.
Further, farmers body SFAC has also tied up with the NSPOT exchange to procure commodities on behalf of small farmers. SFAC has used the NSPOT platform to procure tur and groundnut in the last two months.