The turnover of the 23 commodity exchanges in the country rose by 54.31 per cent to Rs. 9.89 lakh crore in October, buoyed by a surge in bullion trade, according to the Forward Markets Commission (FMC).

The turnover of the commexes stood at Rs. 6.40 lakh crore in the same period last year, data collated by the commodity markets regulator showed.

Among the four national bourses, the MCX’s turnover rose sharply by 57.46 per cent to Rs. 8.47 lakh crore in October, which was almost 80 per cent of the combined turnover of all 23 bourses. In October, 2009, MCX did business worth Rs. 5.38 lakh crore.

The turnover of the NCDEX, which mainly offers futures trading in agri-commodities, grew by 25 per cent to Rs. 95,344 crore from Rs. 76,274 crore in the corresponding period last year.

But the turnover of the NMCE, the country’s third largest national commodity bourse, fell by more than 50 per cent to Rs. 8,757 crore last month from Rs. 19,635 crore in October, 2009.

New entrant ICEX did business worth Rs. 30,700 crore last month.

The FMC said gold and silver trading volumes were significant last month and as a result, turnover from bullion trade jumped by 93 per cent to Rs. 4.73 lakh crore in October from Rs. 2.45 lakh crore in the year-ago period.

Similarly, business from energy trade rose by 28 per cent to Rs. 1.87 lakh crore in October, 2010, from Rs. 1.46 lakh crore in October, 2009 while the turnover from trading of metals like copper rose marginally by 5.34 per cent to Rs. 2.21 lakh crore in the review period.

The turnover from agri-futures was Rs. 1,06,149 crore in October, 2010, as against Rs. 1,04,008 crore in the corresponding period last year, the FMC data showed.