MUMBAI (Commodity Online): Guar Seed futures fell Friday on selling pressure by the traders on the back of poor export demand at higher levels.
In NCDEX guar seed February contract is trading at Rs.11875 per quintal, down by 2.17 per cent on 12:25 IST against the previous close.
In the morning session the contract traded at a range of Rs.12250-11735 per quintal. Open interest of the contract is 39410 lots and volume traded is 14480 lots for the time being.
NCDEX postpones launch of August 2012 contract until further notice. 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.
Exports of Guar gum from April to October 2011 stood at 3.48 lakh tn a rise of 75.8 % compared to 1.98 lakh tn during the same period last year (Source: Apeda dated 29th Jan, 2011).
