Anil Ghanwat, president of the party, has urged farmers to participate in the sit-in, which is to start from January 23.

Sebi originally banned trading in chana, wheat, paddy (non-basmati), soybean and its derivatives, mustard seed and its derivatives, crude palm oil and moong till December 2022.

The market regulator extended the ban till December 20, 2023, drawing stiff resistance from farm groups as well as other stakeholders.

Trade bodies pointed out that mature markets had always allowed trading in agri commodities on the exchanges as it was necessary for better price realisation and futures price guidance.

Ghanwat, while speaking to The Indian Express, pointed out that Sebi’s decision was an anti-farmer one.

The party founded by late Sharad Joshi, an ardent votary of open-market economy and farmers’ access to technology, had led a massive agitation for the introduction of genetically modified cotton in India. It had multiple representatives in local bodies and the legislature in Maharashtra.

Futures markets, many farm organisations have said, allowed for the scientific price discovery of international commodities like soybean, palm oil and others. Farmer producer companies also deal with the exchanges to both trade and hedge their produce for better price realisation.

The central government’s decision to ban the trading of cotton (ginned seedless kapas) on the multi-commodity exchange (MCX) has directly resulted in the lowering of kapas (raw unginned seed cotton) prices in open markets. Farm groups have pointed out that the commodity markets allow them a third option to offload their produce.

The party said the decision had also affected the business of processors and traders. “We have urged every farm organisation and other stakeholders affected by this decision to join us,” he said.