Futures market suspension sparks debate

| | New Delhi
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Futures market suspension sparks debate

Wednesday, 22 January 2025 | Pioneer News Service | New Delhi

Futures market suspension sparks debate

Ashish Bahuguna, Chairman of NCDEX, criticised the suspension of futures markets, highlighting its adverse effects on farmers. He argued that the suspension, seen as a government attempt to control prices, benefits consumers at the expense of farmer incomes, potentially undermining the goal of doubling farmer earnings. With farmers' per capita income still at a 1:3 ratio compared to non-farmers, Bahuguna emphasised that suspensions fail to reduce price volatility and overlook global and local price influences like tariffs and import duties.

Market expert Vijay Sardana supported Bahuguna's stance, calling for studies to examine the political motivations behind the suspension. Meanwhile, Neeraj Jat, CEO of AwantikaFPC, praised the futures market for helping farmers secure better prices and reduce dependence on traditional mandis. Advocates argue that developing futures derivatives could enhance agricultural value chains, improve infrastructure, and better support farmers.

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