MUMBAI (Commodity Online): Guar Seed futures extended uptrend on firm overseas demand amid limited stocks in spot markets.
In NCDEX guar seed March contract is trading at Rs.14624 per quintal, higher by 4 per cent on 12:25 IST against the previous close.
In the morning session the contract traded at a range of Rs.14483-14624 per quintal. Open interest of the contract is 25260 lots and volume traded is 290 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.
