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Ban speculative trading in essential commodities: CPI-M

Shimla, Aug 31 (IANS) The Communist Party of India-Marxist (CPI-M) Thursday urged the central government to ban speculative trading in essential commodities, saying their futures trading was fuelling a rise in their prices.

Thursday, August 31, 2006 | 8:45:59 PM IST (+05:30 GMT)
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Shimla, Aug 31 (IANS) The Communist Party of India-Marxist (CPI-M) Thursday urged the central government to ban speculative trading in essential commodities, saying their futures trading was fuelling a rise in their prices.

'We demand that the essential commodities be kept out of the futures commodities act as it was leading to the price rise and hoarding,' Brinda Karat, senior CPM leader and politburo member, told reporters here in this Himachal Pradesh capital Thursday.

The CPI-M leads the Left Front that supports the United Progressive Alliance (UPA) government from outside.

'One example is wheat as its prices have shot up by Rs.200 a tonne this year,' she said.

'The government has only procured 900,000 tonnes of wheat this year instead of the target of 1.6 million tonnes. Clearly the government is shirking its responsibility and has led to an agrarian crisis,' Karat said.

'Isn't it strange that at one time India exported wheat to the Australia wheat board but is now importing it from the same company,' she said.

Copyright : Indo-Asian News Service
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