Commodity prices stable to up
Maize prices in India remained stable this week at Rs.7300 ($183) per MT at the market yard. The prices are over 17% above the last year prices.
Pearl Millet (Bajra) prices on the other had jumped by 8% this week to reach Rs.7000 ($175) per MT at the market yard. The prices are above the last year’s price by about 5.4% and against maize the prices are lower by 3.5% only. Pearl Millet is mostly grown in northern Indi and parts of Rajasthan and also Central India. The use of the grain as food is rampant in all these areas.
Sorghum (Jowar) prices slumped by about 3.3% over last week to reach Rs.9300 ($232) per MT at the market yard. The prices are up by 21.4% over last year’s prices during the same time. As against maize the price is higher by 28%.
Barley prices also shot up this week by 4% to reach Rs.7300 ($183) per MT at the market yard. The prices are also higher than last year by 4%.
Corn on CBOT slipped a bit to close at $125.26 per MT for Sept delivery. Price for Dec delivery closed at $131.56 per MT on CBOT.
World of Corn 2007
World of Corn 2007
The latest issue of World of Corn 2007 by National Corn Growers Association is now available on the web. The issue provides details of the corn production and consumption in the US. The theme for the 2007 issue is “Energy” - Energy to grow corn, use corn and use the products and by products as well and how all this has helps US. The concept of sustainable approach to the energy needs will help not only the US, but other parts of the world as well.
The PDF file can be downloaded from the NCGA website or clink of the link below to download the file.
Biotech Benefits
Regulatory authorities all over the world have been reviewing the commercial use of biotech crops according to established, internationally-accepted standards of risk assessment. The method has also been affirmed by the United Nations Codex Commission. It has been found and determined that biotech crops pose no more risk than crops produced through traditional crop breeding methods. On the other side there are inherent benefits of using the technology. But before there is talk about the benefits, some hard facts:
1. The global population is growing by more than 73 million people each year. This is only slightly less than adding a population the size of Germany each year.
2. The global population is expected to reach 7 billion by 2013 and 8 billion by 2028 (US Census Bureau, 2005).
3. The combined effect of population gains and income gains around the world is projected to increase the demand for food by 55 percent by 2030 (FAO, 2003).
4. Production of primary food and feed crops - coarse grains, wheat, rice and oilseeds - has increased by 21 percent since 1995, while the total cropland devoted to these crops has increased by only 2 percent (USDA-ERS, 2004).
Benefits to farmers and environment:
Evidence demonstrates that plant biotech has potential to improve food and feed safety and the safety of food production practices, like reduction of insecticides improves farm worker safety in India, China and also US. Saving on insecticide is an economic gain.
Improved insect resistance is an important tool to reduce contamination of food with mycotoxins, especially Aflatoxins and Fumonsin.
Future Benefits include improvements like drought tolerance, saline tolerance, and increased yields - facilitating the conservation of natural areas. Like sweet potato (staple in Africa and Asia) resistant to feathery mottle virus, Disease resistant Banana in Africa, Drought resistant Corn, Soya, wheat etc (http://www.whybiotech.com/) and Oranges resistant to Canker in USA.
According to a recent study by the Australian Bureau of Agricultural and Resource Economics (ABARE), a full global adoption of plant biotechnology crops over the 10-year period from 2006-15 will result in income gains of US$210 billion per year in gross national product (GNP), by the end of the period. It also projects that the largest potential gains in incomes will be in developing countries at a rate of 2.1 percent of GNP per year.
Amit Sachdev
India Representative
U S Grains Council
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