India not likely to ban more commodity futures - govt

NEW DELHI (Reuters) - India is not likely to ban futures trading in more commodities, Agriculture Minister Sharad Pawar said on Monday.

Last week, the Forward Markets Commission (FMC) banned futures trading in four commodities for four months.

India's leftist parties, key allies of the federal coalition, blame futures trading for soaring food prices, which have helped push inflation to a 3-1/2-year high.

"The decision to ban four commodities was taken by the FMC. I think the situation will not be there to extend it beyond four months. I don't think any new commodities will be included in the list," Pawar said.

Last month, a top government official, Abhijit Sen, who headed a panel to study the impact of futures trading on commodity prices, submitted his report to the government.

Pawar said the government was considering the report.

"We are studying the report of the Abhijit Sen committee and the government has not come to a final view," he said.

The minister also said the wheat procurement by government agencies this year had risen to 18.5 million tonnes this year.

"I have met state government officials and officials of the Food Corp of India and we are of the view we will buy 20 million tonnes this year and question of imports does not arise," he said.