Vindicating the point, so does Hirendra Rathod, President of Delhi Trade Forum, alleging that prices of commodities are not being fixed as per demand or supply, but by the commodity exchanges in order to book profits. Traders like Rathod, accusing commodity exchanges of manipulating markets, have angrily demanded a ban on their operations. Even the UPA Chairperson, Sonia Gandhi, while chairing the Core Ministerial meeting of the government to review price rise, flatly put the onus of unprecedented inflation on commodity markets. But the Chairman of commodity futures regulator, the Forward Markets Commission (FMC), S. Sundaresan, copiously doesn’t think so. The increase in prices is, hmm, how do we put it, “In sync with market trends,” as he sassed recently rising up to defend the futures markets.
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