New Delhi, Dec 18 (PTI) Markets regulator Sebi on Wednesday extended the suspension of derivatives trading in seven agricultural commodities, including wheat and moong, for one more year till January 2025 to rein in prices.

The other agricultural commodities suspended by Sebi are paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives.

Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?.

The directive was initially issued on December 19, 2021, and the suspension was first set to last until December 20, 2022, but was subsequently extended twice -- first for an additional year, until December 20, 2023, and then again until December 20, 2024.

Now, the regulator has decided to further prolong the suspension for another year, keeping the trading restrictions in place until January 31, 2025.

Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for December 18, 2024 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game.

"The suspension in trading in the above contracts has been extended till January 31, 2025," Sebi said in a statement.

The suspension permits the squaring up of existing positions in these commodities, but no fresh futures trading is permitted for a year.

This move aims to curb excessive speculation and volatility in the commodity markets, particularly in these essential agricultural products, which have a significant impact on food prices and inflation.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)