Commodity prices in India and US
The last week in India was the festival week. The week started with Deepawali, the festival of lights on Tuesday and ended with EID on Friday. Most markets were subdued and arrivals very slow.
Yellow corn averaged at Rs.5500 ($124) per MT while the local corn average at Rs.5600 ($126) per MT. The spot price at Davangere (Karnataka) was reported at Rs.5322 ($120) per MT while in Nizamabad (Andhra Pradesh) the price was Rs.5348 ($121) per MT.
The prices during the same period last year (first week of November 2004) were much lower. Prices in Andhra Pradesh last year were $90 – 100 per MT while in Bangalore were $115 per MT.
The harvest in US is almost complete and 80% of the crop has been harvested. The prices have also come down as per last week and Dec corn closed at $1.955 per bushel ($77.62 per MT), The corresponding FOB value is $98.5 per MT. March corn closed at $2.0975 per bushel ($ 82.65 per MT). In India the future prices for February are Rs.5640 ($127) per MT. That will be the time when the Rabi crop will be harvested in some parts of the country, specially in Bihar and parts of Karnataka and Andhra Pradesh.
Detailed market report from US Grains Council can be found at:
http://www.grains.org/buying/market_perspectives/mp_11-04-05.pdf
Biotech – spreading its wings
A report in farmers weekly says that the farmers in UK are losing out on agriculture as they are not allowed to plant any biotech crops. Farmers from UK visited Spain to study the system and found nothing wrong with the system. Spain, as per the reports, plants 11% of its area under biotech maize. The technology behind biotech maize prevents corn borer damage and saves at least two insecticide treatments, bringing down the cost of production.
As per the farmers from UK, a herbicide resistant biotech sugar beet could significantly reduce production costs to offset some of the severe price cuts in the proposed reforms.
While the farmers in UK are frustrated on not being allowed to use the technology to compete in the world, farmers in Czech Republic will be growing biotech corn this year, which will be hitting the market by 2006. The corn, which is more resistant to disease-bearing pests, is expected to be used in the country's animal feed industry.
Reports available suggest France and Portugal in Europe have also begun commercial growing of biotech maize this year. Spain and Germany are already growing biotech maize. The European Union has long imported biotech products from United States, but only this year the laws have been amended on the Continent's agriculture industry to enable countries to decide whether to allow the growing of biotech crops.
The EU currently allows only biotech maize to be grown, but it could also give a green light to modified potatoes and rapeseed down the line. Observers say farmers are turning to the crop to save money: Better harvests would cut production losses caused by disease and lower the costs of chemically protecting crops.
In lighter vain, some observers point out all those who oppose biotech crops travel on business or as tourists in areas of the world where they eat these products and do not raise any questions. In addition they bring packed food from those areas which, is not labelled and that this is the best clinical trial and opinion trial that one can have.
It’s final – Frozen Chicken in MFPO net
The final notification made on Oct 27, 2005 by Ministry of Food Processing Industries, Government of India is an amendment to the Meat Food Products Order of 1973. With this amendment frozen chicken and fish are included in the products that would need a licence to be sold in India. Plants processing chicken and selling frozen chicken would need to register themselves with Ministry of Food Processing Industries (MoFPI) and obtain a licence. The licence number would need to appear on the package of frozen chicken as it now appears on the packs of value added products. In the new amendment, the chilled chicken registration has been kept on a voluntary basis as this is the start will be made compulsory at a leter date.
Until recently chicken (frozen or chilled) was not included in the list of MFPO products. The notification is a step in a right direction and will help in creating confidence among the consumers and increase acceptance of dressed/packed chicken.
U S Grains Council has been involved with the poultry processing sector in India for last 3 years and has recently completed the training of Ministry of Food Processing Industry inspectors and production managers of major processing plants in India. The training will help the production managers produce a better product and will also help the inspectors implement the notification.
Amit Sachdev
Representative
U S Grains Council, India
bluecross303@gmail.com
November 05, 2005
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