Mumbai : Joining hands to curb a sharp surge in prices of pulses, regulator Sebi barred launch of any fresh contracts in ‘chana’ in the futures markets and also asked the investors to wind down their existing positions. In the pulses category, futures trading is currently allowed only in chana (gram) on the commodities derivative exchanges.
With the government initiating multi-pronged efforts to check the prices of pulses, which have shot up to as high as Rs 200 per kg, capital markets regulator Sebi has decided to stop launch of new contracts in chana futures and any fresh position in existing contracts to check any speculative rally.
Chana prices have soared by about 24% in the last one year to up to Rs 94 per kg. The government has, however, directed its agencies to sell chana dal at Rs 60 per kg.
Sebi said the decision has been taken “considering the demand and supply gap, as reflected from the price trend in Chana and the supply constraints in near term, as an abundant caution”. The regulator has accordingly directed the commodity derivatives exchanges that “no new Chana contract shall be launched till further orders”.
