ndias first sectoral index in the Agri commodities basket i.e. GUAREX was launched through the (National Commodity and Derivatives Exchange Limited).
GUAREX is a fee primarily based sectoral index that tracks the movement in the futures contracts of guar gum sophisticated splits and guar seed on a real-time basis. This index product will provide a lot of possibilities to the price chain.
The weightage of guar seed and guar gum refined splits in the index will be sixty three per cent and 37 per cent, respectively. The index futures will be cash-settled. Initially, Guarex futures contracts expiring in September and October will be made handy for trading.
India is the worlds greatest guar producer accounting for 80-85 per cent of the output, while Rajasthan is the countrys top producer with 80 per cent market share. Guar seed was sown on 1.81 million hectares so far this year, down from 2.25 million hectares logged in the identical length closing year.