New Delhi, Nov 18 (PTI) Commodity bourse NCDEX todaydemanded lifting of a decade-long ban on tur and urad futurestrading as it welcomed the government's move to remove exportcurbs on all kinds of pulses in the interest of farmers.
Encouraging pulses export is a "path breaking" move at atime when their prices are ruling below the minimum suportprice (MSP), the exchange said in a statement.
"This is also the most appropriate time for re-launchingfutures trading in pulses like tur and urad...," NCDEXsaid in a statement.
The re-launch of pulses futures will provide a priceindicator and a hedging tool for entire pulses value chainincluding farmers, it said.
NCDEX Managing Director and CEO Samir Shah said that therecent re-launch of chana futures on the NCDEX platform hasprovided benchmark prices to the industry.
"Re-launch of tur and urad futures will not only help inproviding advance price signals to millions of farmers butalso help improve their realisations," he added.
Since there has been high price volatility in some pulsessince July 2017, NCDEX said futures trading platform is aneffective hedging and risk management tool for farmers.
"Various studies and surveys done by independent as wellas government agencies have proved that banning the futurescontracts have never been beneficial to the market at large,"it added.
The government on Thursday removed export restrictionson all varieties of pulses in a bid to shore up domesticprices which have fallen sharply because of abundant supplies.
Local production of pulses had risen to a record 22.95million tonnes last year on encouragement from the government,but the output is still short of the annual demand. PTI LUXMR.
This is unedited, unformatted feed from the Press Trust of India wire.