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FMC raises open position limits

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Newswire18 Mumbai
Last Updated : Feb 05 2013 | 1:36 AM IST
The Forward Markets Commission (FMC) has increased the near-month position limits on jeera and pepper futures, according to a circular issued by the National Commodity and Derivatives Exchange (NCDEX).
 
The member-level near-month open position limits in the pepper contract has been increased to 500 tonnes from 300 tonnes, while the same for clients has been raised to 170 tonnes from 100 tonnes, the circular said.
 
In case of jeera, the new limits for members will be 200 tonnes as against 120 tonnes earlier. For clients, the near-month position limits in jeera has been increased to 70 tonnes from 40 tonnes.
 
The revised limits would be applicable from the end of trade today, NCDEX said.
 
In May, the regulator had halved the near-month limits in pepper and jeera applicable for the contracts from July onwards. However, spice exporters and hedgers had been complaining to the regulator that the low limits were not sufficient for them to hedge price risks against exposure for the commodity in the physical markets.
 
The FMC had convened a hedgers' meet last week to review the situation.

 
 

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