NMCE revise margin in pepper, cumin

Ahmedabad, Jul 6 (UNI) The National Multi-Commodity Exchange (NMCE) has revised the initial margin in pepper (kali mirch) and cumin (jeera) futures contract, which will be 12.5 per cent for the sellers and 18.5 per cent for the buyers.

The revised margin would be collected on real-time basis and would be applicable with effect from today, an official statement said.

This is in pursuance of the latest circular of Forward Markets Commission (FMC), superceding its earlier directive issued in April last.

India contributes to about 70 per cent of global production of cumin seed and 20 per cent of pepper, a statement added.

UNI