NEW DELHI: Commodity markets regulator FMC on Friday said that it expects the ban on futures trading of eight commodities to go after November 30 as inflation has begun to ease. "We will write to the government to allow trading of eight commodities once the deadline expires," Forward Markets Commission (FMC) chairman B C Khatua said.
"This is a sunset clause and if it is not renewed, it (ban) will expire automatically," he added. The government had banned futures trading of rice, wheat, tur and urad last year and that of potato, chickpeas (chana), soyabean and rubber in May this year largely due to allegations that such trading contributes to price rise. However, Khatua said the government is "convinced" that futures trading does not have any impact on inflation, especially after the submission of the Abhijit Sen Committee report that almost gave a clean-chit to such trading. The FMC chief said once the kharif crops arrive and rabi sowing starts, the ban is likely to be lifted. Khatua said that he expects inflation to moderate below double digits by November 30. He, however, said, as of now, pressure from loss of crops in Bihar due to recent floods, deficit rainfall in some parts of country continues http://timesofindia.indiatimes.com/Business/Ban_on_commodities_futures_may_go_FMC/articleshow/3477854.cms A likely impossibility is always preferable to an unconvincing possibility. - Aristotle --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
