July 17, 2012

India increases special margins for soy, rapeseed

After oilseed futures struck record highs on Monday's (July 16) trade, special margins on long positions of soy and rapeseed futures have been raised by India's National Commodity and Derivatives Exchange effective Wednesday (July 11), it said in a statement.

The exchange will levy special margins of 20% in all long positions of soy, up from the earlier 5%. The special margin for rapeseed futures was increased to 15% from the earlier 5%.

Oilseeds futures rose 3% on Monday (July 16) to hit their contract high powered by strong overseas markets and as poor rainfall raised concerns over oilseed output.