Chana futures with modified contracts at NCDEX from tomorrow

Leading commodity bourse NCDEX today said it will relaunch chana futures tomorrow after a gap of one year with modified contract specifications.

Chana futures were suspended in June 2016 to curb prices owing to fall in output. Markets regulator Sebi has lifted the ban on chana futures following a rise in production in the interest of farmers.

"Futures provide a very strong, well-regulated marketing channel for farmers and the relaunch of chana futures will not only help in providing advance price signals to millions of farmers but also help improve their realisations," NCDEX Managing Director and CEO Samir Shah said.

In a statement, the exchange said it has modified the contract to allow futures trading in only 'unprocessed raw chana not for direct human consumption' for delivery at Bikaner, Rajasthan. Earlier, the delivery centre was Delhi.

Initially, chana contracts for delivery in September, October and November will be available for trading. Further contracts will be made available as per the launch calendar, it said.

The transaction charges will be at a flat rate of Rs 2 per Rs 1,00,000 trade, till further notice from the exchange.

The country is estimated to have produced 9.08 million tonnes of chana in 2016-17 crop year (July-June) as against 7.06 million tonnes last year.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)