MUMBAI (Commodity Online): Guar Seed futures dropped Thursday on profit booking by the traders though firm export demand and limited stocks in spot markets limited the uptrend.
In NCDEX guar seed February contract is trading at Rs.12464 per quintal, down by 1.04 per cent on 12: 15 IST against the previous close.
In the morning session the contract traded at a range of Rs.12340-12730 per quintal. Open interest of the contract is 43660 lots and volume traded is 13440 lots for the time being.
Total margin levied on the long side of Guar Seed and Guar gum contracts stands at 72% which include cash margin of 60%.
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.
