Commodity prices remain stable
The week for the coarse cereals prices also showed a down trend as the stock market did the past week. Although the prices were not so badly hit as the crash in the stick market. Overall the prices were stable for grains.
This week also saw the tender for another 3 MMT of wheat opening for imports into India. Reports indicate that the total imports will be close to 5.5 MMT for the year 2006-07 and imports for private traders will also be opened in near future once the Food Corporation of India (FCI) can fulfil its own requirements of wheat for the Public Distribution System (PDS).
On the coarse cereal front, the barley prices remained higher than last year prices of $131 per MT and were at $161 per MT, about 23.18% higher than last year. Over the last week, the prices were down by just about 1%.
Sorghum prices on the other hand tumbled down by about 7% over last week and were $169.43 per MT. The prices turned lower due to more arrivals in the market specially in Maharshtra. Over the last year the prices are higher by 5.24%, during the same period.
Pearl Millet prices also were down by 2.&% over last week’s $ 146.2 per MT and were $142.3 per MT. The prices were also lower than last year prices by 2.53%.
Corn prices also had a down trend and prices dropped by 3% over last week, averaging at $124.7 per MT, just about 0.21% less than last year’s price of $125 per MT during the same period last year.
Prices of corn on CBOT also plunged to $ 99.42 per MT, down from last week’s close of $ 101 per MT, a loss of about 1.6% over last week. The planting is almost 85% complete. FOB values are estimated at $112-113 per MT (FOB NOLA).
Reports indicate that the prices of commodities especially corn will be higher than normal as we near the lean season. It will be a litmus test for the poultry sector at that time as it would be on the path of recovery. Those who have stocks will survive in the market, while those who will be dependent on the market for every day needs will suffer the most.
Biotech Media Tour 2006 and acceptance of the technology
The U S Grains Council had organized a media tour on Biotechnology Education in first week of April 2006.
The tour provided science-based information to a team of media representatives from around the world and brought them face to face with the way the products are researched, produced and handled. As one of the Journalists, ValentÃn Fuentes, editor of Quo Magazine in Mexico put it, “now I’m aware that it is used responsibly in the United States.
To know more about the program and what the journalists saw and experience, please visit the council’s Biotechnology Research Centre at the following link.
http://brc.grains.org/grains/page.ww?section=2006+Programs&name=April
It has been the endeavour of the U S Grains Council to provide correct, science based information to all the stake holders, including policy makers, users as well as consumers. While there have been some controversies associated with the technology and its acceptance, it has been gained wide spread acceptance in the last 10 years and farmers in many countries have embraced the technology for their own benefit and that for the society at large.
Farmers in Brazil are one such lot who have embraced the technology and in some cases have completely stopped - plowing or tilling the soil to eliminate weeds and prepare fields for planting. The benefits of conservation tillage range from less erosion to improved wildlife habitat to a reduction in greenhouse gases and fuel use.
Brazilian farmers have experienced damage to environment due to soil erosion. The losses were to the extent of 10 tons of soil per hectare per year, to produce one ton of grain. The problem has been lost by eliminating tillage, as per Mr.Almir Rebelo, grower advisor and president of Friends of the Earth.
A reduction in plowing means a decrease in the number "tractor trips" across a field – resulting in fuel savings and a reduction in greenhouse gases.
This is just a start and farmers are begging to realize the importance of GM traits being offered to them, which not only save them money, but also provide them with better production, help the environment by less soil erosion, green house emissions and much more.
Amit Sachdev
Representative
U S Grains Council, India
bluecross303@gmail.com
May 20, 2006
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