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Shetkari Sanghatana writes to SEBI; asks not to ban futures trading of soyabean
April 21, 2021
Shetkari Sanghatana President, Anil Ghanwat×
Ban will pull down prices drastically, turn farmers away from producing oilseeds: Anil Ghanwat
Shetkari Sanghatana (SS), the farmers’ body in Maharashtra, has written to SEBI that it should not succumb to pressure from soyabean processors to ban futures and options trading in soyabean on NCDEX.
“The processors lobby is saying that soyabean prices have risen to ₹7,000/quintal plus due to speculation and not the demand-supply situation, and justifies the ban on futures,” said SS President Anil Ghanwat in a press statement. He added that a ban on futures trading of soyabean will pull down the prices drastically. This will turn farmers away from producing oilseeds in future, said Ghanwat.