India extends ban on futures trade in 4 commodities

MUMBAI, Sept 5 (Reuters) - India has extended by two months a ban on futures trade in four commodities, the regulator for commodity futures said late on Friday.

"Suspension of futures in on soyoil, chickpea, rubber and potato has been extended till Nov 30," said Anupam Mishra, a director with the Forward Markets Commission, the regulator.

A four-month ban of futures trade in these commodities was scheduled to lapse on Saturday.

After halting futures in rice, wheat and two varieties of lentils in 2007, India banned trade in the four commodities in May this year to help check inflation, which raced to double digits in early June.

Earlier on Friday, Yashwant Bhave, the top official of the consumer affairs ministry, which oversees futures trade in India, said the government had not recommended that the ban should continue beyond Saturday. (Reporting by Sourav Mishra; Editing by Michael Roddy)