'Maize prices stable this week on deliveries from Bihar'

Maize prices registered a negligible increase to Rs 10,761 per tonne this week vis-a-vis the previous seven-day period on the back of reports of a normal monsoon in 2011-12 and higher deliveries in Bihar, a US Grains Council (USGC) report has said.

Maize prices were ruling at Rs 10,677 per tonne last week. However, on an annual basis, prices this week are 14.6% higher than the rate prevailing in the year-ago period, according to the USGC report.

"On the reports of a normal monsoon in 2011-12 and higher deliveries in Bihar, maize prices have corrected," it said. Maize prices in Bihar are ruling at Rs 10,500-10,750 per tonne and loaded cargoes are being sold at Rs 11,400–11,500 per tonne, it added.

 

However, prices of maize in all producing states have come down.

Prices have come down by 4.44% in Gujarat to Rs 10,695 per tonne, and by 2.52% to Rs 11,141 per tonne in Maharashtra. In Tamil Nadu, prices are down by 2.48% at Rs 11,332 per tonne.  

The prices have also come down marginally in Andhra Pradesh by 0.78% to Rs 10,418 per tonne. However, prices in Karnataka were up by 0.24% at Rs 11,183 per tonne.

Although, the price of maize was stable in the spot market at Davangere at Rs 12,207 per tonne, the rates in Karimnagar were down by 1.19% at Rs 12,680 per tonne.