MUMBAI (Commodity Online): To restrict the upward movement of the guar complex, National Commodity & Derivatives Exchange (NCDEX) has postponed fresh launch of futures contract.
The exchange which planned to launch new contract in February 1for expiry in August has been postponed.
The movement was taken to control the prices of these minor commodities which continued their upward move despite several regulatory obstacles.
According to a senior official, if the contract remains live, traders will continue to take positions giving a clear direction to the price. In absence of future contracts, traders may limit their position due to non-availability of price directions resulting the possibilityof a decline, reported Business Standard.
However,traders can take positions in existing contracts expiring in July.
In NCDEX, for February delivery, the guar seed traded up 0.52% to Rs 12560 and guar gum traded down 0.3% to Rs 40900 on 4th February at 11:41IST
