Pakistan Mercantile Exchange: Commodity trading value jumps ten fold
Pakistan Mercantile Exchange Limited (PMEX), a commodity futures exchange, trade value increased by 1,026 per cent compared with the same period last year, primarily due to product diversification at the exchange.
Growth in trading volumes was accompanied by a growing product diversification, according to a press statement issued by the exchange on Wednesday.
Almost the entire volume of trading a year ago was in gold but the last quarter’s activity diversified as 55 per cent of the total trade was gold while silver and crude oil had a 20 per cent and 25 per cent share, respectively.
The Exchange also expects to list sugar, wheat, maize, basmati rice and currency futures during the current year.
In another record, commodities traded value crossed the Rs50 billion monthly mark for the first time in March.
Published in The Express Tribune, April 7th, 2011.
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