Friday, October 1, 2010

FMC lifts ban on Sugar Futures

Commodity Online: Forward Markets Commission (FMC) today lifted the Futures ban on Sugar on the grounds of reduced prices of the sweetener from its peak levels of January, 2010 and better crop outlook.

The commodity market regulator in the country lifted the ban and said that as the prices of the sweetener have dropped by 40% since January and also bumper output is expected in the year 2010-11.

Agency reports quoted the FMC Chairman, BC Khatua saying, “We have allowed to lapse the ban on trading today.”

However, the decision on launch of new contracts will be taken in next 2-3 days after taking consultation from sugar industry and commodity exchanges, the regulator said.

The futures trading ban had been imposed in May last year as the prices of the commodity had shot up exorbitantly.

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