Maize prices in India begin to decline: USGC

Maize prices in the country has begun to slide during last week bringing in some respite to end users like poultry sector, according to the US Grains Council (USGC).
In Nizamabad, corn prices declined 2.07 per cent to Rs 15,370 per tonne, the prices in Davangere dipped by 1.24 per cent to Rs 15,250 per tonne.
In Karimnagar the prices slipped by 1.50 per cent to Rs 15,333 per tonne, in Sangli it went down 2.39 per cent to Rs 15,325 per tonne and in Gulabbagh it plunged to Rs 16,131 per tonne, USGC Representative for India, Bangladesh and Sri Lanka Amit Sachdev said today.

Future prices for maize were also down. December down 1.05 per cent to Rs 15,060 per tonne, January down 1.69 per cent to Rs 15,100 per tonne, February down 1.35 per cent to Rs 15,310 per tonne.
However, March contract was up by 1.84 per cent at Rs 15,520 per tonne.
The Rabi crop sowing for maize is good at 0.996 million hectares, but is lower by 4.9 per cent than last year's 1.046 million hectares, as on date and it might pick up.

Also the poultry prices are better across the country as demand is rising and the hatch holidays announced have helped.

Prices of live chicken - ex farm are ranging from a low of Rs 67 per kg in Punjab and in Raipur (Chhattisgarh) Rs 85 per kg, much better than Rs 40 per kg few weeks ago.
But, Sachdev said, this does not mean that the industry is out of the woods as yet.
The overall cost of poultry production still remains high and industry is buying inputs at prices higher than the world market.
Maize imports will help keep the poultry prices stable and the pressure on the poultry production centres in the country will ease.