The six month ban on futures trading in four commodities namely soya oil, potato, rubber and chickpeas lapsed on November 30. The ban on these four agricultural commodities was imposed in order to control inflation. It was due to lapse on September 30 but was extended owing to the high inflation rate in that period. Inflation rate currently stands at 8.84%, from the 16-year high of 12.9% in August.

Futures trading is likely to assume in a weak after regulatory approval by FMC. The chief business officer of the commodity exchange, National Commodity and Derivatives Exchange (NCDEX), Unupom Kausik said that the exchanges have submitted the proposals to the Forward Markets Commission for necessary approval. FMC chairman, BC Khatua said that the matter would be cleared within a weak.

The secretary in the department of consumer affairs, Y. Bhave said that the government has not taken any decision to extend the futures trading suspension and it may start in the coming days. It is worth noting that refined soya oil prices have significantly declined to Rs 38 per kg in November from the peak level of Rs 65-Rs 70 per kg three months back. Soybean Processors Association of India (Sopa) demanded immediate response from the government as prices are declined and inflation rate is in comfortable zone.