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Mumbai Feb. 13 Reacting to the rise in potato prices on the futures market, commodity markets regulator Forward Markets Commission has imposed an additional margin of 5 per cent on potato (Tarkeshwar) and 4 per cent on the Agra variety on the net buy positions on MCX and NCDEX.

Effectively, the Agra variety will have a daily initial margin of 11 per cent (5 per cent payable in cash), an additional margin of 9 per cent on buy side and special margins if there is any further volatility.

Similarly, margins on the Tarkeshwar variety will carry a daily initial margin of 10 per cent, an additional margin of 10 per cent on buy side and special margins on further volatility.

The margins will be calculated at the end of the trading hours on the outstanding net long (buy) positions and will be blocked from the deposits available with the exchange, the FMC said.

More Stories on : Horticulture/Fruits & Vegetables | Regulatory Bodies & Rulings | Commodity Markets

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