Maize prices rule high on slow arrivals, says USGC

Even as retail prices of pulses continue to pinch consumers, maize ruled high in the range of Rs 13,000 to Rs 14,730 per tonne last week amid slow arrivals of the crop, according to a report by US Grains Council.
"Harvest in India continues and the reports are not very encouraging. The market yard prices range between Rs 13,000 per tonne in Telangana, Rs 13,640 per tonne in Rajasthan, Rs 13,520 per tonne in Andhra Pradesh, Rs 13,830 per tonne in Uttar Pradesh," USGC Representative for India, Bangladesh and Sri Lanka Amit Sachdev said.
In Tamil Nadu, which is not a maize producer state during Kharif season, the prices ruled higher at Rs 14,730 per tonne and the grains size are small, especially in drought hit areas, he said.

Since it was also a short week, with Dussehra and Muharram holidays, which also made supplies low leading to higher prices, he added.
In the future market prices on NCDEX were firm with October contract, which expired on 20 this month, was up by 2.42 per cent at Rs 13,960 per tonne, while the November contract was up by 3.11 per cent at Rs 14,240 per tonne, December was up 3.32 per cent at Rs 14,330 per tonne.
However, the prices in the spot market were mixed, USGC said.

In Nizambad prices were up by 1.20 per cent at Rs 13,865 per tonne, in Davangere down by 2.37 per cent at Rs 14,562 per tonne, in Karimnagar up by 0.12 per cent at Rs 13,750 per tonne, in Sangli up by 1.03 per cent at Rs 14,750 per tonne and in Gulabbagh up by 0.65 per cent at Rs 14,220 per tonne.

There also has been an improvement in poultry prices across the country, however, the prices in some areas are still are below the cost of production, which had shot up considerably due to increased ingredient prices, especially corn and soybean meal (SBM), USGC said.
It said that the prices also went up as end users are still wanting to buy non-conventional protein sources.
Corn prices in the US remained stable as the harvest is still in progress.
As per an estimate almost 60 per cent of the crop has been harvested, it added.