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NEW DELHI: Commodity market regulator FMC on Tuesday banned futures trading in sugar to arrest a possible speculation-driven rise in prices of the sweetener.

“Yes. We have suspended futures trading in sugar with immediate effect. No new sugar contract would be launched and no fresh position will be taken in the running contract,” Forward Markets Commission Director, Mr Anupam Mishra said.

The decision comes after days of the government revoking a nearly two-and-half year ban on futures trading in wheat. - PTI

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