Ban on futures trading in 4 commodities may be lifted: FMC
Commodity markets regulator Forward Markets Commission on Wednesday expressed hope that government would lift the ban on futures trading in four commodities -- soya oil, potato, rubber and chickpea.
By PTI |
MUMBAI : Commodity markets regulator Forward Markets Commission on Wednesday expressed hope that government would lift the ban on futures trading in four commodities -- soya oil, potato, rubber and chickpea.
"I hope that trade in the recently suspended agricultural commodities would be revived," FMC Chairman B C Khatua said in Bangalore at a meeting.
In May, the government under pressure to control soaring inflation, suspended futures trading in the above mentioned commodities for four months.
FMC had convened a meeting of representatives of Trade and Manufacturers Associations, Chambers of Commerce and Industry, Marketing Federations and Co-operatives, at Bangalore.
Khatua, in his inaugural address, highlighted the growth of the commodity futures market in India and the various initiatives taken by the FMC for the development and regulation of the market.
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He, however, stated that in the recent past, trading in agriculture commodities had slowed down. This trend could be revised through greater participation by hedgers, processors, importers, exporters and entities engaged in value-addition of agricultural commodities. Khatua said the Indian commodity futures market, though in nascent stage in current format, had stabilised and in some areas even surpassed markets such as the US.
Through timely and vigilant regulation that addressed every small divergence, as and when they arose, the market has been functioning without any major distortions, he said.
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