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Informist, Wednesday, Oct. 16, 2024

 

MUMBAI – Futures contracts of yellow peas have been made available to trade Wednesday on the National Commodity & Derivatives Exchange Ltd. The November contract opened at INR 3,561 per 100 kilograms. 

 

At 1117 IST, the price was INR 3,650 per 100 kg, with open interest of 65 contracts. On Monday, the exchange had announced the relaunch of futures contracts of unprocessed whole raw yellow peas, which are not for direct human consumption. Yellow peas were traded on the exchange in 2009. The exchange withdrew yellow pea futures contracts earlier due to liquidity challenges. 

 

Contracts expiring in the months of November, December, January, and February will be launched the same day. The open interest threshold of the yellow pea futures contract is 120,500 tonnes and the contract symbol is YELLOWP, the exchange said. 

 

"Upon expiry of the contracts all the outstanding open positions shall result in compulsory delivery," according to the circular. On Jul. 19, Informist had exclusively reported quoting two unnamed officials that the Securities and Exchange Board of India had approved the relaunch of yellow pea futures contracts on the NCDEX. The report also specified that the contract would be on a compulsory delivery basis and won't have a cash-settlement option.  End

 

Reported by J. Navya Sruthi

Edited by Manisha Baxla

 

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