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MARKET UPDATES/NEWS

The Securities and Exchange Board of India has asked the National Commodity and Derivatives Exchange to not launch any new chana contracts on its platform till further notice, the market regulator said in a release on August 16. NCDEX has also been directed to not take any new positions for the running contracts, and only squaring up of positions will be allowed on the platform with immediate effect, according to the official release.

Kabuli Chana has been removed from the DoCA (Department of Consumer Affairs) portal so there is no need to give stock information of Kabuli Chana on DOCA portal. Stockists need to upload stock information for rest of the pulses including Gram, Tur, Urad, Moong and Masoor.

The government exempted pulse importers from stockholding limits, but they are still required to declare their stocks on the Department of Consumer Affairs portal, an official release said. On Jul 2, the government-imposed stockholding limits on pulses, barring moong, to curb the rise in prices. The limits, which were to be effective till Oct 31, had been applied on wholesalers, millers, retailers and importers. The government has also revised upwards the stockholding limits for wholesalers to 500 tn, provided there isn't more than 200 tn of one variety, the release said. The limit that had been imposed on wholesalers earlier was 200 tn, provided there was not more than 100 tn of one variety of pulse. For millers, the limit now will be the last six months of production or 50% of annual installed capacity, whichever is higher, the release said. Earlier, the limit was three months of production or 25% of annual installed capacity, whichever was higher. All the stakeholders--wholesalers, retailers, millers, and importers--are required to reduce the stocks with them to the prescribed limit within 30 days after they declare excess stocks, the release said. The government has procured 545980 tons of chana harvested in 2020-21 rabi season.

Govt. in its released 3rd Advance estimates for 2020-21 food-grains production, increased Bengal Gram production by 10 lakh MT to 126.1 lakh MT. For tur, it is 41.40 lakh MT, Urad at23.70 lakh MT, Masur at 12.60 lakh MT, Masur production estimate has been decreased from 13.50 to 12.60 lakh MT.

After a gap of three years, India has opened up import of tur, moong and udid as the Union Ministry of Commerce changed these three pulses from restricted to open category. The order states that for three kinds of pulses — tur/arhar, moong and urad dal — any party can import any amount till 31 October. The consignment can be cleared till 30 November, as long as it’s billed before 31 October.

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