Hoarding, futures trading responsible for price rise: Sajjan Kumar

New Delhi, June 25 (UNI) Congress leader Sajjan Kumar today demanded a ban on futures trading in commodities and imposition of Essential Commodities Act in Delhi to check the spurt in prices of essential items.

''A syndicate of traders is hoarding essential items and earning crores of rupees by using the Commodities Stock Exchange on the internet, at the common man's cost,'' he said while addressing a press conference here.

The price spiral was ''artificial'' as the traders who benefited from the previous NDA government's decision to allow futures trading in foodgrains were now conspiring against the Congress-led UPA government, he claimed.

The Centre should immediately halt futures trading in commodities while the Delhi government should order a probe at godowns stocked with wheat, rice, sugar and pulses, he said.

The government should ensure that foodgrains stocked at godowns are not above a certain limit, he added, also demanding the immediate imposition of the Essential Commodities Act.

The MP from Outer Delhi has written a letter to Agriculture Minister Sharad Pawar and Delhi Chief Minister Sheila Dikshit in this regard.

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