Turnover at Indian commodity bourses rose 50 percent to 82.70 trillion rupees ($1.83 trillion) in the first three quaters to December on surging volumes on bullion and metal counters, data from the regulator showed.

The total value of trade for bullion jumped 69.89 percent to 37.54 trillion rupees in April-Dec period, while for metals it surged 64.41 percent to 19.37 trillion rupees.

Volumes in agri-commodities rose by a mere 7.48 percent to 9.69 trillion rupees, the Forward Markets Commission said.

India as of now has five commodity bourses - National Commodity and Derivatives Exchange (NCDEX), Multi-Commodity Exchange (MCX), National Multi-Commodity Exchange, and Indian Commodity Exchange, ACE Derivatives and Commodity Exchange, - which operate at the national level. India, which allowed futures trading in commodities in 2003, has one of the fastest growing commodity futures markets and had a combined turnover of 77.65 trillion rupees in the 2009/10 fiscal year ending March.

India is the biggest buyer of bullion and second-largest wheat and rice producing nation.