FMC may probe jeera, turmeric price volatility

The Forward Markets Commission (FMC) is likely to probe excessive price volatility in jeera and turmeric futures witnessed in the last few days, traders said on Thursday.

A section of traders and exporters had a meeting with the regulator on Thursday to express their concerns on the sharp intraday movement that has surprised farmers and exporters as well. FMC has, however, denied any manipulation in jeera or turmeric futures. “The enquiry is a part of routine surveillance carried out by the regulator on exchanges,” FMC Chairman B C Khatua said.