FMC seeks lifting ban on futures trade in four commodities
Commodity markets regulator Forward Markets Commission today said it will ask the government to lift the ban on futures trading in wheat, rice, urad and tur.
By PTI |
MUMBAI: Commodity markets regulator Forward Markets Commission today said it will ask the government to lift the ban on futures trading in wheat, rice, urad and tur.
"We will write to the Consumer Affairs Ministry this week to lift the ban on futures trading in the four commodities," FMC Chairman B C Khatua told reporters here today.
"The concerns that prompted the ban have been dispelled. There were enough indications to show that there was no link between commodity futures trading and price increase," he said.
"We are not waiting for the Abhijit Sen Committee report for asking the lifting of the ban," Khatua added.
The Government had constituted a committee headed by Planning Commission Member Abhijit Sen to study the impact of futures trading on prices of essential food items.
"We thought the report will come in time, but since a delay is taking place, we would go ahead to ask the government to lift the ban," Khatua said, adding "it should not take such decisions in haste".
Commenting on foreign direct investment limit on commodity exchanges, Khatua said the Cabinet Committee on Economic Affairs (CCEA) is scheduled to take up this matter at its next meeting.
FMC has also asked the commexes to formulate guidelines for aggregators. "We have asked the commodity exchanges to formulate guidelines for aggregators on aggregation of farmers for participation in the futures market.
"We will write to the Consumer Affairs Ministry this week to lift the ban on futures trading in the four commodities," FMC Chairman B C Khatua told reporters here today.
"The concerns that prompted the ban have been dispelled. There were enough indications to show that there was no link between commodity futures trading and price increase," he said.
"We are not waiting for the Abhijit Sen Committee report for asking the lifting of the ban," Khatua added.
The Government had constituted a committee headed by Planning Commission Member Abhijit Sen to study the impact of futures trading on prices of essential food items.
"We thought the report will come in time, but since a delay is taking place, we would go ahead to ask the government to lift the ban," Khatua said, adding "it should not take such decisions in haste".
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Commenting on foreign direct investment limit on commodity exchanges, Khatua said the Cabinet Committee on Economic Affairs (CCEA) is scheduled to take up this matter at its next meeting.
FMC has also asked the commexes to formulate guidelines for aggregators. "We have asked the commodity exchanges to formulate guidelines for aggregators on aggregation of farmers for participation in the futures market.
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