History may repeat and 'futures trading' in agricultural
commodities in India may soon come to a close if prices
of essential commodities continue to surge.
do not know how long I will be able to resist (the pressure),''
food and agriculture minister Sharad Pawar told a conference
of vice chancellors of state agricultural universities
in New Delhi.
view of the rising inflation, political parties, especially
the UPA partners, have been demanding a ban on futures
trading in agricultural commodities, which is attributed
to spiralling prices of essential commodities.
late, the number of people opposing futures trading in
agricultural commodities has been swelling day by day,
parliamentary standing committee on food and public distribution
also has opposed futures trading in farm products, saying
it helps in inflating commodity prices.
however, said that there was no evidence that futures
trading led to price rise in commodities. He pointed out
that prices of urad and tur are still high in the market
despite a ban on futures trading in these products.
the economy is growing at 9 per cent and growth in money
circulation is 3-4 per cent, prices are bound to rise
if there is a demand-supply
mismatch," Pawar pointed out .
coalition politics, if all parties agree on the issue
of withdrawing agricultural commodities from futures market
it may finally prevail, Pawar added.