Tags:
Journalism of Courage
The Forward Markets Commission (FMC) would decide on re-launching guar futures contract by the end of this month,more than a year after it was banned to curb price volatility and speculation.
The Commission,however,favoured a probe by the Competition Commission of India (CCI) over allegation of cartelisation in guar trade by a few firms.
FMC chairman Ramesh Abhishek said,We have asked MCX,NCDEX and ACE,which have applied for relaunch of guar contracts,to submit separate report on availability of guar stock in the market. The regulator would take the decision based on their reports.
The production of guar gum,extracted from guar seed,is expected to be 14 lakh tonne this year,slightly lower than 17 lakh tonne in 2011-12.
