FMC suspends futures trading in 4 commodities for 4 months

Mumbai May 7 (UNI) The country's commodity market regulator Forward Markets Commission (FMC) has suspended futures trading in channa (gram), refined soyoil, potato and rubber with immediate effect for four months, a spokesperson said here today.

''The FMC issued the order tonight delising channa (gram), refined soyoil, potato and rubber contracts with immediate effect.

Due to a bullish phase in these commodity prices since the last few months, the domestic spot prices were rising.

These commodity prices rose above 10-20 per cent in the retail prices inspite of huge stocks at the terminal markets across the country.

The FMC should take action against the other essential commodity prices so that commonman would get cheaper rates at the retail markets, leading traders said.

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