FMC expects futures mkt to grow 25%

New Delhi: The commodity futures market is expected to grow by 25% to about Rs 150 lakh crore in this fiscal due to recovery of the global economy, commodity markets regulator Forward Markets Commission (FMC) said. The cumulative turnover of the commodity futures market, which comprises of 23 commodity bourses, is estimated to have risen by 53% to R119 lakh crore in FY' 11, it said.
"I would take a conservative view of 20-25% growth at R140-150 lakh crore in the current fiscal," FMC chairman BC Khatua said.
Since the global economy is in "recovery mode", trade volumes are expected to be higher on the commodity exchange platforms, he said.
Khatua noted that the growth of the commodity futures market may not be like last fiscal as prices of gold and silver are already at peak level.
He, however, said the commodity bourses have potential to achieve higher than the conservative growth estimate of 25% this year...