Maize prices continue to rise as supply diminish: USGC

Corn prices in the country continue to move up during last week as supplies have diminished and requirement for next three months have to be met through the stocks as the new crop will arrive in October, according to the US Grains Council.
"India's maize price continue to move up as supplies dwindle. For the next two months, August and September the requirement is about 3 million tonne and corn production is not going to hit the market on October 1, 2015. The October requirement of 1.5 million tonne too will need to be met with the stocks from 2014-15 crop," USGC Indian Representative Amit Sachdev said here.

He said the availability from Uttar Pradesh is poor and prices are now at over Rs 12,600 per tonne and delivered to Haryana ranging between Rs 14,000-14,400 per tonne.
There was increase of almost Rs 1,500 per tonne in 15 days, he added.
Delivered price of maize to south India, particularly Coimbatore region from Bihar is now at Rs 15,500 per tonne or more.
As per the report from India Meteorological Department, he
said, while rains have been intense in the west and north, maize-growing regions like Marathwada, north interior Karnataka, Rayalaseema and Telangana have not received enough rains.
The spot market prices continue to move up. In Nizamabad, the prices were up by 1.99 per cent to Rs 13,728 per tonne, Karimnagar up 5.34 per cent to Rs 14,466 per tonne, Sangli by 1.63 per cent to Rs 15,950 per tonne and Gulabbagh up 2.46 per cent to Rs 12,772 per tonne.