Trading in guargum, guarseed futures restart

New Delhi, May 14. Trading in guargum resumed after a gap of nearly 13 months on the Multi Commodity Exchange and prices dropped sharply by over 3 per cent. At the Multi Commodity Exchange, guargum for delivery in June contracts fell by Rs 904, or 3.14 per cent, to Rs 27,896 per quintal in volume of 113 lots. The commodity markets regulator, Forward Market Commission (FMC) today lifted the ban and allowed trading in guar seed and guargum for June, July and October 2013 contracts. FMC had banned futures trading in both the commodities in March last year due to volatility in the prices. NCDEX also commenced trading in June, July and October 2013 expiry contracts. Meanwhile, trading unit of the Guar Seed and Guar Gum is 1 MT (tonne) each and price quote for the contracts is ex-warehouse Jodhpur, inclusive of Sales tax and VAT, MCX said. Guarseed for delivery in far-month October contracts lost Rs 756, or 9 per cent, to Rs 7,664 per quintal, with a business volume of 43 lots at the MCX, while June contracts dropped by Rs 575, or 5.92 per cent, to Rs 9,125 per quintal, in a trading volume of 1,756 lots. Similarly, the commodity for July contracts traded Rs 535, or 5.40 per cent, down at Rs 9,365 per quintal in a turnover of 293 lots.