‘India not contemplating ban on commodity futures’

NEW DELHI (Commodity Online) : The Consumer Affairs Secretary of India on Thursday said that the country is having no plans to ban futures trading in any commodities as of now.
Rising inflation has been a concern in India and many had pointed at futures trading as a possible culprit. The traders were fearful that futures trading in commodities like sugar, oil seeds and soy oil may be re-introduced.
The FMC or Forward Markets Commission had banned sugar, grains and pulses from futures trading in the past.
Country’s inflation is now hovering at 15.57%.
Onions and other essential commodities have been driving inflation in India for a while. Government is importing onions from Pakistan and maintaining export ban on lentils and edible oils even as prices of milk, eggs and meat have gained because of consumer demand.
The Reserve Bank of India had recently raised the lending rates by 25 basis points.
Corporate margins in India have also taken a beating and foreign funds have pulled out $900 million this January alone.

(Source: http://www.commodityonline.com/news/%E2%80%98India-not-contemplating-ban-on-commodity-futures%E2%80%99-36031-3-1.html)