SEBI suspends futures trading in key farm crops
The Hindu
Move seen to curb rising prices
Market regulator Securities & Exchange Board of India (SEBI) on Monday issued an order suspending futures trading in paddy (non-basmati), wheat, Bengal gram (chana dal), mustard seeds and its derivatives, soyabean and its derivatives, crude palm oil and green gram (moong dal) for a year, in a move believed to stem rising prices.
In its order, SEBI asked stock exchanges in commodity derivatives segment to not to undertake any trading in derivative contracts in these key farm commodities with immediate effect.
“No new contract shall be launched till further orders. In respect of running contracts, no new position will be allowed to be taken. Only squaring up of position will be allowed,” the regulator said in its order.
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