Ban on future trading on rice, wheat to be liftedDecember 12th, 2008 - 6:14 pm ICT by IANS
Kolkata, Dec 12 (IANS) The ban on futures trading of rice, wheat, tur and urad will soon be lifted, a senior official of the commodity market regulator said here Friday.”Futures trading on these commodities will start soon. I am quite hopeful it may happen next month,” Forward Markets Commission chairman B.C. Khatua told reporters.
He said the government’s “comfort level” has increased and that the bans would be lifted sooner than later.
Talking about the performance of rubber, soya oil and potato, commodities on which futures trading ban was lifted recently, Khatua said: “When trading on these commodities were suspended, they were very active. They were contributing substantially to the turnover of the exchanges.”
However, he said, regaining old volumes would take some time. “It may take place when the other commodities (rice, wheat, tur and urad) come back into the market.”
At present, the daily volume of rubber, soya oil and potato traded is 30 to 40 percent of what was traded earlier, Khatua said.