India’s Forward Markets Commission (FMC) today announced plans relist guar seed and guar gum futures due to a sharp decline in prices and expected higher output. In March 2012, local commodity exchanges banned trading in guar seed and guar gum futures amid a regulatory inquiry after prices soared more than tenfold.
As reported today by the Hindu Business Line, FMC, which regulates the commodity markets in India, recommended the ban should be lifted expeditiously as the arrival season is fast approaching. FMC Chairman Ramesh Abhishek said the commission will consult with a number of government agencies before making a final decision on guar futures.
