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NCDEX Raises Transaction Charges on Agri-commodities

09 June 2014

INDIA - Mumbai based National Commodity & Derivatives Exchange Limited (NCDEX), a leading agriculture-commodity bourse has raised transaction charges on agriculture-commodities from 1 June.

The move is seen to improve financial condition of the exchange that has been down due to falling trade volumes.

NCDEX in a recent circular said that it has revised upward the transaction costs for 15 agriculture commodities to $0.050 per $1689 for average daily volumes of up to $17 million.

For additional volume, the charges are kept at $0.033 per $1689 turnover.

However, NCDEX has kept the transaction costs unchanged for about 10 commodities such as gold, silver and palm oil at $0.006 per $1689 turnover for a volume of up to $8.45 million and $0.005 for volumes exceeding $8.45 million.

In February 2014, the exchange had slashed the transaction costs to encourage trade volumes.
The charges in February for agricultural commodities were kept at $0.032 per $1689 turnover for the first $34 million daily volumes and $0.021 per $1689 for incremental average daily volumes above $34 million.

As per the data maintained by regulator Forward Markets Commission (FMC), trading volumes on NCDEX fell by 33 per cent to $13.41 billion in April 2014, from $19.91 billion in the corresponding month last year.

TheCropSite News Desk

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