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Sugar-Futures Trading in India May Resume Next Week, FMC Says

Dec. 23 (Bloomberg) -- Sugar-futures trading in India, the second-biggest producer, may resume as early as next week after the ban ended, the Forward Market Commission said.

A decision on the start date will made today or tomorrow, Chairman B.C. Khatua said an interview in Mumbai. There will be six contracts for the delivery months January to June, he said.

“If we give permission let’s say by tomorrow, they may start from Monday or Tuesday,” he said. “It’s up to the exchanges and their level of preparedness.”

India banned sugar futures last May after global and domestic prices surged as supplies failed to keep pace with demand. Trading hasn’t resumed on bourses including the National Commodity & Derivatives Exchange Ltd. although the restriction ended on Sept. 30.

“It can start in a day or two. This is an old contract, so there won’t be any significant change in that,” Khatua said.

To contact the reporter on this story: Madelene Pearson in Mumbai on mpearson1@bloomberg.net

To contact the editor responsible for this story: Richard Dobson at Rdobson4@bloomberg.net

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