The commodity market regulator's decision to, lift the ban from the sugar futures in the country paving the way for trading. It is to be mentioned here that the market watchers take the recently announced decision as an important step towards lifting all government controls over the industry.

BC Khatua, chairman of (FMC), said that the authority has now allowed the lapse of ban of the sugar futures trading and a decision on launching new contracts will now be taken in a span of the next 2-3 days.

While the decision on the same will be taken in talks with the sugar and commodity industry, it is surely one of the resounding validations of the growing belief that the price of the futures contract is not the utmost reason for the movement in the sugar prices.

For the record, the current sugar prices are trading at Rs 30-32/ kg, close to 40% down and trading was banned for the past six months. While the ban was first introduced in May 2009, it was later extended in the September-end with the soaring prices in mind.