SEBI mulls lifting decade-old ban on tur, urad futures.

The Securities and Exchange Board of India (SEBI) may soon allow futures trading in tur and urad dal as the regulator considers lifting a decade-old ban. Agri-commodities bourse NCDEX has also sought the regulator’s nod for relaunching futures trading in tur and urad. Trading in tur and urad was banned in 2007 after a spike in prices of these commodities Currently, these commodities have been trading below the minimum support price (MSP), which is a cause of concern for the government. If SEBI allows future trading in tur and urad, it may ease cartelisation in pulses. Large players will also show interest and derivative is a good tool for price discovery.

Aug pulses import at Chennai port down 4% on month, tur imports rise

Import of pulses at Chennai port fell 3.9% on month in August to 40,224 tn, as urad imports fell sharply. Import of urad in August declined in anticipation of the new crop hitting markets in Karnataka, Madhya Pradesh and Maharashtra in September. Imports of urad fell sharply to 23,856 tn in August from 32,184 tn in July, and 33,720 tn in the corresponding period last year. However, imports of tur last month rose to 11,640 tn compared with 7,752 tn in July. Overall imports of pulses at the various ports remained lower due to restriction by the government in order to support domestic prices.

Maharashtra Markfed to sell 30,286 tn tur

Maharashtra State Co-operative Marketing Federation has offered to sell 30,286 tn of tur through NCDEX e-Markets. The tur to be auctioned is stocked at godowns of Maharashtra State Warehousing Corp.

Kharif tur area up nearly 1% at 4.57 mln ha

Area under tur was up nearly 1% at 4.57 mln ha because acreage in Karnataka, one of the key producing states, rose on the back of good monsoon. Good rains in north Karnataka led to higher acreage, said Vishwanath Biradar. Though acreage in another key producer Madhya Pradesh is down on year, it is higher than the season’s normal acreage based on five-year average.