Oct 21, 2008, 08.22 AM IST | Source: Business Line

Ban on 8 commodities may go next month: FMC chief

The Forward Markets Commission (FMC) hopes the ban on trading of eight commodities on exchanges will go in November.

Hyderabad, Oct. 20

The Forward Markets Commission (FMC) hopes the ban on trading of eight commodities on exchanges will go in November.

We will take a call after studying 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 ban 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.Addressing a press conference here on Monday, Mr Khatua said the current prices (of these commodities in the open market) didnt justify the suspension any longer.

contd on page 2...

1 2

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

584.32 3.08 0.53%

364780

Bought today

85837

Sold today

0.55%

User holding

video of the day

Chandra says satisfied with TCS' FY14, FY15 to be better

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.