Centre bans exports of pulses
Chennai: The Centre has banned the export of pulses with immediate effect. The ban will be in force till December 26. The Union Commerce Ministry has said the ban would not apply to imports that have been made under advance licence before it came into effect.

The ban applies to over 10 types of pulses, guarseed, lentils and split ones too. The pulses covered under the ban are chickpea, dried leguminous vegetables, including shelled ones, peas, black matpe (urad), arhar (pigeon pea), small red beans, broad beans, red kidney beans and split beans.

The pulses trade sees the move as one that could affect the country's standing in the global market in the long term.

The move to ban exports has led to the prices of various pulses declining in the futures market. The Chana July contracts have declined to Rs2,232 and Rs2,141 a quintal respectively on NCDEX and MCX currently from Rs2,621 and Rs2,562 the day before the ban decision. The sole exception is yellow peas, which increased by Rs21 a quintal on MCX.

A question mark also hangs over the 51,000 tonnes chana contract won by exporters in a tender floated by Pakistan early this month.
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Customs duty on wheat imports cut to 5 per cent
New Delhi: The government has slashed customs duty on wheat imports from 50 per cent to 5 per cent and allowed them under Open General Licence till the year end in a bid to contain the surging prices. These imports would be allowed under Open General Licence and quality standards will be the same as notified for public sector imports.

Last week, the government had allowed import of pulses at zero import duty till March 31, 2007, according to the statement. The sugar imports would also not draw any customs duty but would attract countervailing duty of Rs850 per tonne till September 30, 2006 before new crushing season begins, as per the decision taken by the government last week.
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