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Guar price-rig report names Ruchi Soya, Betul

The Forward Markets Commission (FMC) has found 4,490 entities were involved in guar gum price manipulation. In a report submitted to the ministry of consumer affairs (MCA) on Friday, the commodity market regulator has said these entities made profits of Rs 1,291 crore by way of price manipulation. The report also names listed entities Ruchi Soya and Betul Oil. The report is significant as many traders had earlier said the price of guar gum had risen abnormally because of a shortage. However, the commodity was cornered through other channels, including margin funding and booking of huge ...