Tuesday, 11 November 2014

FMC discontinues guar contracts for Oct, Nov & Dec 2014

Forward Markets Commission (FMC), the commodity markets regulator has discontinued guar seed and guar gum contracts for October, November and December 2014 at the MCX platform because of insufficient liquidity in them. Currently its competitor NCDEX is offering guar seed and guar gum contracts for delivery up to March 2015. The regulator has also asked exchanges to charge a minimum initial deposit amount of 5 per cent in the case of guar gum and guar seed keeping in view the recent price movement and volatility.
The prices of guar seed and guar gum in the futures market have come under pressure due to the arrival of guar crop. As per the exchange data, futures price of guar seed for December month delivery at NCDEX is quoting over Rs. 5,000 per quintal now againast Rs. 6,540 in August. Similarly, the futures price of guar gum has declined to Rs. 14,200 per quintal from the peak of Rs. 17,800 in the same period.

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