Centre bans futures trade in seven agri commodities including soy complex

Crude palm oil clocked an average volume of around Rs 200 crore daily on the Multi Commodity Exchange

To reign in rising food inflation, the Securities and Exchange Board of India (Sebi) has barred exchanges from launching new futures contracts in seven food items for one year with immediate effect.

The commodities are paddy (non-basmati), wheat, chana, mustard seeds and their derivatives, soybean and its derivatives, crude palm oil, and moong.

In one of the biggest crackdowns on commodity derivative futures since trading was opened in 2003, the regulator said that no new contracts will be allowed in the seven commodities. As to their running contracts, no new position will be allowed to be taken; only squaring off will be