Maize prices up on increase in demand, says USGC

Corn prices in all major markets in India moved up during last week due to increasing demand, according to US Grains Council.
"Almost all of the country is covered with rains, placements of broilers is back, which has created a demand pull for maize in poultry segments," US Grains Council India Representative Amit Sachdev said.
Placement of broilers is the Preparation before arrival of chicks.
Prices in Bihar moved up to Rs 11,200 per tonne from Rs 10,500 per tonne. The damaged grain though in this is about 7 per cent, the report said.
There is stock and farmers and traders may be stocking it in anticipation of higher prices, it said.

Spot prices of maize in the key NCDEX delivery points was up, in Nizamabad it was up 0.46 per cent to Rs 13,125 per tonne, Davangere up 0.93 per cent to Rs 13,625 per tonne, Karimngar up 0.82 per cent to Rs 13,712 per tonne, Sangli up 6.03 per cent to Rs 14,950 per tonne and Gulabbagh up 0.98 per cent to Rs 11,135 per tonne.

Meanwhile, USGC said arrivals from Uttar Pradesh have also started and priced at Rs 10,750 per tonne (loose material at market yard). The production in Uttar Pradesh is expected to be higher than last year.

With rains covering all of the country the sowing is expected to be good and the Minimum Support Price of all Khariff crops has been increased, especially maize.
The increase in MSP is 1.15 per cent and it will be Rs 13,250 per tonne applicable from October 1, 2015, it added.