RM SEED RECOVERS AFTER INITIAL LOSSES AS NCDEX INCREASES
INITIAL MARGIN
Date: 11/04/2012
RM Seed has reacted negatively in the opening ticks on the back of NCDEX strong measures to curb speculation further. The exchange has today informed that it will be increasing minimum initial margin by 10% of the value of contract or Variance based margin whichever is higher. The margin will take effect from 12 April 2012. NCDEX informed that the special margin, additional margin or any other margin levied shall be above the minimum initial margin.
The move of NCDEX resulted in sober opening of Rape Mustard Seed that tumbled at Rs 3941 per quintal, down Rs 14. The prices have recovered from the losses and are trading at Rs 3949 per quintal, down only Rs 5. The production estimates are lower though and that has helped Mustard trade stably.
Earlier, NCDEX decided to revise the position limits of Mustard Seed contracts to 75000 metric tons for members from 125000 metric tons earlier. For clients the positional limits have been revised to 15000 metric tons from 25000 metric tons earlier.
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