The Forward Markets Commission (FMC) expects the prohibition on trading of eight commodities on exchanges will go in November. They will take a call after analyzing the situation in mid-November and recommend suspension of the ban on four commodities (rice, wheat, urad and tuar), Mr B.C. Khatua, Chairman of FMC, said. While the ban of trade in rubber, chana, soya oil and potato would come to an end automatically in November, the ban on rice, wheat, urad and tuar has no time frame for suspension.
The prohibition came in the wake of sharp criticism from Left parties, which alleged that the futures markets had triggered sharp rise in prices of these vital commodities. The slowdown had affected the trading of agricultural commodities. There is a fall of 50 per cent from Rs 13 lakh crore in 2006-07 to 6-6.5 lakh crore in 2007-08.
The prohibition came in the wake of sharp criticism from Left parties, which alleged that the futures markets had triggered sharp rise in prices of these vital commodities. The slowdown had affected the trading of agricultural commodities. There is a fall of 50 per cent from Rs 13 lakh crore in 2006-07 to 6-6.5 lakh crore in 2007-08.
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