After guar,FMC bans soya futures

After barring fresh positions in guarseed and guar gum futures recently,commodity market regulator Forward Markets Commission

Written by ENS Economic Bureau | Mumbai | Published: April 4, 2012 12:49 am

After barring fresh positions in guarseed and guar gum futures recently,commodity market regulator Forward Markets Commission (FMC) on Tuesday banned commodity exchanges from offering new futures contracts in soyabean to curb price volatility and speculation in the oilseed.

The FMC has enhanced the deposit amount that buyers have to keep with exchanges for trading in soyabean,pepper and cardamom by 10 per cent of the value of the commodities.

This means the exchanges would not be able to launch contracts from September. At present,NCDEX is offering futures trade in six soyabean contracts till August.

In the last couple of months,soyabean and other farm commodities have come under the lens of regulator on sharp price rise in view of demand-supply mismatch.

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