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Ban may be imposed on jute futures

22
Sep '09
Raw jute prices in the domestic market had touched an all-time high of Rs 30,200 a ton in the month of July, before falling to the current level of around Rs 21,000 a ton.

This has prodded the Forward Markets Commission (FMC), to contemplate putting a ban in forward trading of Jute, due to abnormal rise in raw jute prices.

Earlier, the apex body of jute manufactures, Indian Jute Mills Association (IJMA), had requested the textile ministry to impose a ban on forward trading of jute.

According to sources, the proposed ban may come into effect from November of the current year.

Fibre2fashion News Desk - India


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