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.

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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.

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"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.

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