Business

Bullion metals volumes increased 9%, Agriculture futures volumes fell 35%, maintaining the advantage as the bull cycle continues in agri! | Bullion metals volume increased 9%, Agriculture futures volume fell 35%, profit now as the bull cycle continues in agri!

GujaratiBusiness NewsMetal bullion volumes increased 9%, agricultural futures volumes fell 35%, maintaining the advantage as the bull cycle continues in Agri!

Annoyed by the ads? Install the Divya Bhaskar app to read the news without ads

Ahmedabad 10 days ago

With the introduction of several bills to boost the growth of farmers’ incomes, the year ended with record cereal production in the agricultural sector.

2020 has been a dull year for the commodities market. Trader-investors gained on the rapid rise in metal bullion, but there has been a sluggish trend in current and futures trading in agricultural commodities. Due to the Corona outbreak, the volumes of futures contracts in the bullion segment increased on average by 10%, while the volumes of agricultural commodities futures fell by 35%. The volume was affected because the overall lockdown environment and current operations were also affected. The volume is expected to increase in the coming new year, analysts say, given the boom in the agricultural commodity market and the launch of new commodity futures. Volume growth will be seen on the upside in bullion and metals.

India’s agricultural sector saw record food grain production in 2020. Positive growth has been recorded despite the lockdown of the corona virus. Record plantings were made in Kharif as well as during the rabi season, thanks to which agricultural experts also hope for good production in the new year. In addition, a number of incentive policies have been implemented by the central government for agricultural products, but despite the support prices, farmer-focused programs that allow farmers to sell their products anywhere , there is now widespread opposition from some states. Negotiations are underway with the government due to the fierce agitation by farmers. Union Agriculture Minister Narendrasinh Tomar said new solutions would be found to end the crisis in the new year. The country’s agricultural sector contributes around 15 percent to the GDP and employs over half of the population.

The Koro epidemic hit almost all sectors hard, while agribusiness sectors grew 4.4% in the first and second quarters of the fiscal year. The country’s cereal production during the 2019-20 crop year (July-June) was 296.65 million tonnes and due to a good monsoon, production could increase to 300 million tonnes in 2020-2021. With the increase in support prices, the government bought a record 39 million tonnes of wheat at support prices and 45 million tonnes of paddy. Inflation in the retail market is also expected to increase in the near future with support for large-scale buying.

MCX volume status

Annual volume change (%) 2020865280017.29.392019791015722.821.38201865169980226.952017513348771.5-162016611154045.510.09

NCDEX volume status

Annual volume change (%) 202029632083.15-34.85201945479767.66-24.04201859876288.0710.45201754209690.58-16.73201665104349.09-36.65

Back to top button