MUMBAI (Commodity Online): Guar Seed futures extended uptrend on Monday due to limited stocks in the domestic markets amid firm export demand.
In NCDEX guar seed February contract is trading at Rs.13941 per quintal, down by 4 per cent on 12:30 IST against the previous close.
In the morning session the contract traded at a range of Rs.13520-13941 per quintal. Open interest of the contract is 21350 lots and volume traded is 1540 lots for the time being.
In the month of January, FMC has taken various measures to curb the rising prices viz- imposition of special margin, cut in position limit, Further to curb volatility, FMC on 11.1.12 took another measure to curb the rising price of Guar Seed and gum viz- Cut in position limits w.e.f. FMC on 11. 1.2012 directed the exchanges to cut position limit in Guar seed by 20% for brokers and clients and in Guar gum by 40% for brokers. Position limit in Guar gum for clients remain unchanged.
Exports of Guar gum from Apr to Oct 2011 stood at 3.48 lakh tn a rise of 75.8% compared to 1.98 lakh tn during a year ago . In 2010-11 fiscal, Guar gum exports were almost doubled to 4.03 lakh tonnes compared to 2.1 lakh tonnes in 2009-10.
