In commodity market terminology, Yellow Peas refers to a legume, Lathyrus aphaca, that is also known as Yellow Vetch. Yellow Peas are native to Southern Europe, North Africa and parts of Asia. Yellow Peas are used in making Dahl and other Indian delicacies and are a staple of Indian vegetarian cuisine.
Yellow Pea futures trade on the National Commodities and Derivatives Exchange or NCDEX and the Multi-Commodity Exchange or MCX, both in India. The NCDEX and MCX contracts are for 10 metric tons per contract and are quoted in Indian Rupees with a minimum fluctuation of 10 Paise.