Commodity prices stay firm
Maize prices averaged Rs.9090 per MT at the market yard this week, up by about 1% this week. But the prices were 17% higher than last year. In the futures market (NCDEX), the futures were down by 4-8%, max being for Sept by 8%. In the spot markets of Nizamabad and Karimnagar prices were down by 3%, while in Davangere they are up by 3% at Rs.10760 per MT.
Pearl Millet (Bajra)) prices were up by 1.8% to Rs.8050 per MT of demand from poultry sector, specially the layer segment. Prices are up by 15% over last year. Against maize the price are lower by 13%. The prices have moved up only due to pressure of buying.
Sorghum (jowar) prices on the other hand were down by 8.5%, to Rs.10409 at the market yard, but 11.7% higher than last year. And 12.7% above maize prices.
Barley prices moved up substantially this week to Rs.10,944 at the market yard, add 6.4% to its tally. The prices were 30.5% above last year values. On NCDEX, the futures were lower by 2-5% over last week and also in the spot market the prices were reported lower by 1%.
There has been extensive amount of rain this week all over the country and this may be good news for some areas, bur the flood situation in some areas could be an issue. Farmers are still out there planting gains, oilseeds etc and we can expect a good crop in the long run.
Corn prices on CBOT were below 200 levels for SEPT delivery ($196.20), a drop of 11.8% over last week. Dec corn was also at $204 per MT, losing 11.3% in the rally.
Year of food safety and quality
The year 2008/09 has been declared as the YEAR OF FOOD SAFETY AND QUALITY, by Government of India. As citizens of the country, customers and part of the food industry, let us join hands and do what we can to make this a year what it is meant to be be.
Lets try to make simple changes in the way we see food products (produce, transport, store and sell) and one small change of keep temperature as per the requirement and general cleanliness can make a different.
It is not a one man's job, but a collective effort that can help every one. If China can think of doing such a spectacular show, make changes in the system and adopt food safety systems, India too can do that, and with Food Safety and Standards Authority (FSSA) now a reality, it is more important that its hands are strengthened.
What do you think needs to be done in the meat sector (production, distribution, retail, customer level). If you have any suggestions, do write in with reasoning and these will be put together and put on the blog, for wider circulation and discussion.
Amit Sachdev
India representative
U S Grains Council
bluecross303@gmail.com
Maize prices averaged Rs.9090 per MT at the market yard this week, up by about 1% this week. But the prices were 17% higher than last year. In the futures market (NCDEX), the futures were down by 4-8%, max being for Sept by 8%. In the spot markets of Nizamabad and Karimnagar prices were down by 3%, while in Davangere they are up by 3% at Rs.10760 per MT.
Pearl Millet (Bajra)) prices were up by 1.8% to Rs.8050 per MT of demand from poultry sector, specially the layer segment. Prices are up by 15% over last year. Against maize the price are lower by 13%. The prices have moved up only due to pressure of buying.
Sorghum (jowar) prices on the other hand were down by 8.5%, to Rs.10409 at the market yard, but 11.7% higher than last year. And 12.7% above maize prices.
Barley prices moved up substantially this week to Rs.10,944 at the market yard, add 6.4% to its tally. The prices were 30.5% above last year values. On NCDEX, the futures were lower by 2-5% over last week and also in the spot market the prices were reported lower by 1%.
There has been extensive amount of rain this week all over the country and this may be good news for some areas, bur the flood situation in some areas could be an issue. Farmers are still out there planting gains, oilseeds etc and we can expect a good crop in the long run.
Corn prices on CBOT were below 200 levels for SEPT delivery ($196.20), a drop of 11.8% over last week. Dec corn was also at $204 per MT, losing 11.3% in the rally.
Year of food safety and quality
The year 2008/09 has been declared as the YEAR OF FOOD SAFETY AND QUALITY, by Government of India. As citizens of the country, customers and part of the food industry, let us join hands and do what we can to make this a year what it is meant to be be.
Lets try to make simple changes in the way we see food products (produce, transport, store and sell) and one small change of keep temperature as per the requirement and general cleanliness can make a different.
It is not a one man's job, but a collective effort that can help every one. If China can think of doing such a spectacular show, make changes in the system and adopt food safety systems, India too can do that, and with Food Safety and Standards Authority (FSSA) now a reality, it is more important that its hands are strengthened.
What do you think needs to be done in the meat sector (production, distribution, retail, customer level). If you have any suggestions, do write in with reasoning and these will be put together and put on the blog, for wider circulation and discussion.
Amit Sachdev
India representative
U S Grains Council
bluecross303@gmail.com
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