The commodity market regulator FMC on Monday said futures trading will resume this week in potato, rubber, chana and soyaoil, after a nearly six-month ban on the four items ended on Sunday.
“The suspension on four items has lapsed on November 30. The trading in these commodities will resume this week after contracts are processed and approved,” Forward Markets Commission (FMC) Chairman B C Khatua said.
The government had suspended futures trading in the four items for four months on May 6 under pressure from Left parties who blamed futures market for price rise. The ban was later extended till November 30.
Khatua said the regulator has not received any communication regarding extending the ban.
“FMC will take a few days to check contract specification before giving the approval for trading,” he said, adding the FMC would issue circular in this regard soon.
Leading commodity exchange NMCE has already applied for resuming futures contracts in all the four items, the firm’s Managing Director Kailash Gupta said.
According to sources, other two national exchange ? NCDEX and MCX – are also in the process.
Potato was largely traded on MCX platform, while chana and soya oil were actively traded on NCDEX and rubber on NMCE.
Khatua had recently said he was hopeful about lifting of ban as inflation has eased. The regulator had also sent a note to the Consumer Affairs Ministry favouring removal of ban on the four restricted items.
