Commodity market on-exchange trades total 1 trillion rubles in 2018

In recent years, the oil product market has remained the most liquid organised commodity market. In 2018, the value of contracts concluded in this market increased by 25% to 872.3 billion rubles, while in physical terms it saw a mere 4% increase. This is evidenced by the Bank of Russia-conducted analysis of the on-exchange commodity market in 2018.

Growth was also registered in the on-exchange agricultural produce market, where the turnover increased to 40.06 billion rubles. That said, Bank of Russia experts note that the bulk of this volume is accounted for by forward market instruments — swap contracts whose execution does not provide for the real shipment of goods. In order to develop the agricultural produce market, the National Commodity Exchange launched transactions with new commodities — soy beans and sunflower.

Furthermore, it is of note that the organised commodity market demonstrates negative dynamics. Trading in the natural gas market dropped by 24% to 48.4 billion rubles. This results from the shrinking volumes of gas sales by PJSC Gazprom, its main supplier.

In 2018, commodity trading was organised by five organisations holding stock exchange licences: SPIMEX, Moscow Exchange, NAMEX (member of Moscow Exchange Group), Exchange Saint Petersburg and Saint Petersburg Exchange.