Maize price for near month delivery on the NCDEX fell 2.5 per cent, or Rs 20, after the market sentiment had turned bearish on the Centre's decision to release 21,200 tonne at a price of Rs 450 a quintal to West Bengal, primarily to help poultry farmers. | |
| The major poultry feed closed on the commex at Rs 774.5 a quintal, thus plunging 4.32 per cent since the beginning of the month. The timely release of a part of the 5 lakh tonne surplus stocks held by the government is expected to help poultry farmers access maize at fairly reasonable prices and recover the losses they had incurred at the outbreak of bird flu. |
| |
| Prices will decline if the government releases additional quota, as promised, and imports start in full swing, as predicted. |
| |
| Industry sources say the Centre's decision to scrap customs duty on corn could result in imports of about 25 lakh tonne maize to bridge the demand-supply gap. As per agriculture ministry data, the maize acreage has grown to 11.134 lakh hectares this year from 9.948 lakh hectares in 2005-06. |
| |
| Production for 2006-07 kharif season is estimated at 11 million tonne and, if added with rabi crop, the crop size is expected to be 12.4 million tonne. In contrast, demand for the corn is likely to be around 14 million tonne. |
| |
|
| |
