Maize prices stable on increased sowing: USGC

Maize prices in India have been stable during last week mostly due to the government import tender not being fulfilled and pick up in sowing, according to US Grains Council.
"The maize prices in India overall have been stable for some time now, however, the price did show some upward movement may be because of the tender not being fulfilled," USGC Representative for India, Bangladesh and Sri Lanka Amit Sachdev said.
There were not much interest shown on the import tenders by state-owned trading firms State Trading Corporation (STC) PEC, floated for the poultry sector and dairy animals.
Meanwhile, Sachdev said, maize planting is catching up as farmers in most areas received good prices this year.

As on July 22, 2016 maize has been planted in 6.826 million hectares, 9.7 per cent more than last year.
Corn spot prices moved up slightly on the news, in Nizamabad prices were up 0.57 per cent to Rs 17,394 per tonne, Davanagere down 0.18 per cent to Rs 17,900 per tonne, Karimnagar up 1.24 per cent to Rs 17,666 per tonne, Sangli down 0.53 per cent to Rs 18,600 per tonne and Gulabbagh up 0.16 per cent to Rs 15,501 per tonne.
In the Uttar Pradesh market, maize price (loose) was selling at Rs 14,500-14,700 per tonne, which was higher than the MSP declared by the government.

In the futures market, maize was slightly firm as the August delivery was up by 1.41 per cent at Rs 15,830 per tonne, September up 1.77 per cent at Rs 16,090 per tonne, while the October contract was down by 2.41 per cent at Rs 14,180 per tonne and November was down 7.06 per cent at Rs 13,430 per tonne as corn arrival is expected in during these two months.