NCDEX maintains numero uno status for trading in Guar Seed

NCDEX, India's leading agricultural commodity derivatives exchange, has strongly reinforced its position as the leading exchange for futures trading in Guar seed and Guar gum. The first day of recommencement of trading in the contracts saw the exchange clocking a trading volume of 5664 MT and Open Interest of 2137 MT  with Traded value of Rs. 53.76 crore in Guar Seed and trading volume of 1014 MT & Open Interest of 237 MT with Traded value of Rs. 28.60 crore  in case of Guar Gum.

The Exchange received the approval for trading in Guar Seed and Guar Gum June 2013, July 2013, October 2013 and November 2013 contracts from the commodity markets regulator, Forward Markets Commission (FMC) on May 13, 2013. The exchange commenced trading in the June 2013, July 2013 & October 2013 expiry contracts from today.

With the contract size of 1 MT, tick size of Rs. 10 per quintal and the delivery unit of 1MT, it is a compulsory delivery contract, with staggered delivery being offered for the last 15 days. The basis delivery centre is Jodhpur, and additional delivery centres are Bikaner, Nokha, Barmer, Sriganganagar, Deesa and Adampur.

NCDEX is the premier exchange in the country offering a price discovery and risk management platform for Guar complex futures since 2007 and has seen wide participation from the value chain participants.  Since NCDEX contracts serve as the price benchmarks to the trade, they are used by them as risk mitigation tools to manage their price risks in the domestic as well as export markets.

Mr. R Ramaseshan, MD & CEO, NCDEX said: "NCDEX Guar seed and Guar gum Futures effectively provide a benchmark price for the Guar industry not only in India but globally as well. Participation from all segments of the value chain will ensure that the market dynamics functions better as a result of the larger participation. It is important that the growth is maintained and for this, higher participation is sought from hedgers. The Exchange remains committed to maintaining the integrity of the market and in providing a fair and transparent platform."

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