July 16, 2012 / 1:13 PM / 5 years ago

India's NCDEX raises special margins for soybean, rapeseed

MUMBAI, July 16 (Reuters) - India’s National Commodity and Derivatives Exchange increased special margins on long positions of soybean and rapeseed futures effective Wednesday, it said in a statement, after oilseeds futures struck record highs on Monday’s trade.

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

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

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