CPI(M) calls for ban on future trading in essential commodities

CPI(M) calls for ban on future trading in essential commodities CPI(M) calls for ban on future trading in essential commodities

Source: IRIS (22 January 2007)

Arguing for the common man, who is facing spiraling prices of essential commodities, CPI(M) has demanded a ban on futures trading in essential commodities

Expressing serious concern at the rising inflation rate which has now crossed 6%, the party also asserted a reduction in prices of petrol and diesel in view of fall in international crude prices.

The party pointed out that the inability of the government to improve the supply situation by augmenting production and cracking down on hoarding is responsible for the continuing increase in prices of food items. Further the speculations of further rise in prices push future prices of commodity up, ultimately resulting into a rise in spot prices.

The annual WPI based inflation has crossed the mark of 6% to touch 6.12% for the first week of the new year. Further considering lower crude oil prices, which are trading below USD 53 a barrel in addition to rising inflation rate, has strengthened the argument of the Left to call for a reduction in fuel prices.

* Q - Quote , N - News , C - Chart , F - Financials


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