Agri Picks’ report for July 22, 2024 states: Geojit Monetary Administrations the Protections and Trade Leading body of India has supported the relaunch of yellow peas prospects on the Public Item and Subordinates Trade, two authorities with the trade told Informist.
According to two representatives of the exchange who spoke with Informist, the relaunch of yellow peas futures on the National Commodity & Derivatives Exchange has received approval from the Securities and Exchange Board of India. An official claims that the contract was last traded on the exchange in 2009. Due to liquidity issues, the contract was withdrawn by the exchange. It trusts the agreement will get momentum this time because of expanded imports and developing utilization. ” India was very different from what it is now fifteen years ago,” a different official stated. Yellow peas were exempt from import duty in December until March 31 and then until June 30. After production of tur decreased and the availability of chana also became a concern, the government extended the duty waiver in May for shipments covered by a bill of entry issued on or before October 31. As a result, the price of chana and tur decreased. A less expensive alternative to chana is yellow peas. India imported around 1.2 million tons of yellow peas in 2023-2024 (April Mar), a significant increase from the previous year’s 539 million tons. India has imported 686,730 tn of yellow peas thus far this year. Yellow peas, which are imported, are a decently sized commodity. Since pulses have been traded, the value chain is aware of the contract. An NCDEX official stated, “They have a sense of acceptability throughout the value chain.” Numerous pulses, including yellow peas, tur, urad, and chana, were previously traded on the NCDEX.
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The trade desires to draw in cooperation across the worth chain including shippers, homegrown dealers, ranchers, processors, and mill operators. Regarding the relaunch of yellow peas, NCDEX officials stated that the contract’s specifics have not yet been finalized by the exchange. Next week is probably when the decision will be made. An official stated, “The contract will not have a cash settlement option and will be on a compulsory delivery basis.” The hub for delivery is Kanpur. At this point there is no extra conveyance place,” he added. The base unit of exchanging would be 10 tn and costs would be cited rupees per 100 kg, he added.
