India suspended trading of natural rubber, including four varieties of futures

The Government of India to be suspended, including soybean oil, rubber, chickpeas and potato varieties, including four types of futures trading. It is understood that the move is an attempt to strengthen local control rising inflation. Official data show that as of April 19 the week, the rate of inflation in India 42 months high of 7.57 percent. Last year, the Indian government has stopped the wheat and rice futures exchange.

Indian industry regulators related to the futures market, the Commission said, more varieties of futures trading from May 8 to close for at least 4 months, the clearing price will be yesterday's closing price for the calculation.

It is understood that the Indian Prime Minister Manmohan Singh also want to prohibit the cooking oil, sugar and other commodities on the futures exchange, he said that speculative forces are making soaring commodity prices; Finance Minister Chidambaram said that in considering the futures of food The implementation of the ban, India is facing a very serious food crisis.

Last year, the Government of India has stopped the futures of wheat and rice, lentils in 2006 to stop the transaction, which is to prevent the type of commodity prices in the local soaring. In the implementation of the ban last year, the Government of India has invited a阿比吉特森economists under the chairmanship of the group, the impact of the measures evaluated.阿比吉特森However, in a report last week said the group did not show any major impact on prices of agricultural products futures spot price of strong evidence.

Insiders also believe that the ban on futures trading will not curb the surge in food prices. Speculative commodity trading and the growing link between food prices is not solid, food prices are the main driving force of the poor harvest and rising demand. Futures stop, for India to cool inflation may be of little use.

Analysts, traders and food industry executives recently warned that India will be a total ban on futures trading of bulk agricultural products, food prices will not ease up, they said India This is a political gesture.

Analysts pointed out that last year the Indian government banned beans, rice and wheat futures, but it does not contain the bulk of these agricultural products wholesale and retail price momentum.

Traders said that last year, food prices continue to rise sharply, indicating strong demand and due to adverse weather caused by fundamental factors such as supply shortages, food prices are soaring.

伦敦巴克莱Capital (Barclays Capital) of the staple agricultural products, analysts said that financial speculators are the reasons for the rise in food prices is wrong.

Indian commodity exchanges (MCX), a spokesman said MCX, as well as India's largest exchanges - the National Commodity Derivatives Exchange (NCDE), soybean oil, rubber, chickpeas and potatoes, and so on the day of the four commodity futures trading volume as a whole About 120 billion rupees (288,000,000 U.S. dollars). As of March 31, India 23 exchanges of goods this year, the total volume of about 922,000,000,000 U.S. dollars.

India is the world's second-largest buyer of vegetable oils, mainly rely on imports to meet demand for edible oils in general. India and Indonesia from Malaysia palm oil imports from Argentina and Brazil soybean oil imports. Said, in May and June, India's imports of soybean oil and palm oil are about 570,000 tons or so from the beginning of July may be increased to 700,000 tons per month; According to another report, India in March to buy 421,686 tons of soybean oil and palm Oil, an increase of 33% in the same period last year.

India to cope with the surge in food prices has taken a great deal. The Government of India has removed import tariffs on several products, including wheat, wheat flour and palm oil. It also correspondingly increase the minimum rice export tax.