ASSOCHAM
INDUSTRY ASSOCHAM opposes relisting of Guar Gum in future Market Apex industry body ASSOCHAM has cautioned the government for re-listing guar gum and guar seeds in the future market till the Forward Contract Regulation Amendment (FCRA) Bill to accord adequate powers to FMC with a view to regulate the market and penalize any insider trading, cartelization and price manipulations. The chamber study, says the ASSOCHAM secretary general D.S. Rawat, has established that cartelization and price manipulations had suddenly increased the price of guar seed from a level of Rs. 2,422 per quintal in 2010-11 to Rs, 29,000 per quintal in 2011-12. He said, before these manipulations, prices used to be in the range of Rs, 1,500-2,200/quintal for 2004-05 to 2010-11. Even during the year 2009-10 which was a bad crop year with guar seed production falling to an all time low of 3,00,000 MT, the prices ranged within Rs, 1,800-2,200 per quintal. The secretar...