FMC chief launches quarterly journal

Mumbai, July 3 (UNI) Forward Markets Commission (FMC) chairman B C Khatua today launched 'Commodity Vision', a quarterly journal in bullion segment, to be published by the country's leading commodity bourse MCX.

Talking to reporters after the launch, Mr Khatua said the ban on the future trading in wheat, rice and pulses is likely to be lifted shortly.

He said FMC's regulatory committee has looked into future activity of these commodities due to stability of prices in spot commodity. The country's economic barometer inflation was quoted below five per cent since the last few weeks. The inflation, which touched a low at 4.03 per cent, also contributed to restart future trading in the items.

''FMC has monitored the volatile fluctuation in key commodities like bullion, crude oil and edible oil. If the prices of future trading behaved properly, then all essential commodity prices would be stable, which could be reflected on the spot commodity market,'' Mr Khatua said.

''Farmers are getting more profit in mandi markets due to future activity by big operators. FMC is waiting for permission in future trading by Foreign Direct Investors from related regulatory body under the Finance Ministry,'' he added.

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