Banning futures trading would do little to curb prices, especially for commodities like edible oils that are heavily imported.

ECONOMIST: Inflation in India

An even more telling argument is that commodities without futures markets (apples, edible beans) or futures markets where index funds did not get involved (milk, rice) also saw price rises during 2006-08.

ECONOMIST: Investors may not have caused commodity price rises

Robert Ehrlich, 50, a former commodities trader and the founder of Robert's American Gourmet, peddles edible flim-flam.

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