Maize prices slightly up by 0.8% at Rs 13,524 per ton: USGC

Maize prices during last week moved up marginally on pan-India average by 0.8% to Rs 13,524 per tonne as the supply is limited and the demand remains strong, the US Grains Council said.

"Corn prices moved up slightly during last week on pan- India average by 0.8% to Rs 13,524 per tonne and higher than last year by 8.3%," USGC India representative Amit Sachdev said.

This higher price trend prevails as it is the fag end of the market season 2012-13 and hence the market is somewhat higher as the supply is limited and the demand remains strong, he pointed out.

End-users, he said, are waiting for the new crop to arrive, which is somewhat delayed due to late rains in key production centres.

Prices were reported higher in Andhra Pradesh by 2.38% at Rs 13,266 per tonne, Gujarat by 4.6% at Rs 14,847 per tonne, Karnataka by 2.73% at Rs 14,196 per tonne and Tamil Nadu by 1.09% at Rs 15,008 per tonne.

In some of the centres prices were down, specially in Madhya Pradesh where it declined by 4.57% to Rs 13,616 per tonne, Maharashtra by 2.7% to Rs 15,106 per tonne, Rajasthan by 3.46% to Rs 13,967 and Uttar Pradesh by 1.78% to Rs 13,389 per tonne.

Globally, market in the US was very volatile and the old crop prices closed lower.

Meanwhile, in other coarse cereals, pearl millet prices were down 3.6% to Rs 12,809 per tonne, higher than last year by 3.2%.

Sorghum prices were up by 9.5% to Rs 16,065 per tonne and down 4.7% against last year prices at the same time.

Barley prices moved up by 1.2% to Rs 11,966 per tonne at the market yard, higher than last year by 7.8%.