Commodity prices move up
Maize prices moved up by about 5.6% this to Rs.8700 per Mt at the market yards. For the week ending Sept 7, the prices were s.8200 per MT. Against last year, maize prices were ruling 21.5% higher. In the futures as well the prices from Aug 22 – Sept 12 period for Sept delivery have registered a upswing of 4%. Fir deliveries in months of Oct – Jan, the prices have gone up by 0.2 – 1%. In the spot markets as well, for the three week period, the prices at Nizamabad have shown an upswing of 2.5% to Rs.10,115, Karimngar up by 6% to 10,350 per MT . It was only at Davangere that the prices have been down by 0.7% to Rs.10400 per MT levels. Reports are that at some location in Andhra Pradesh, stocks have started to come into the market.
Pearl Millet prices added about 16.3% to its tally reaching Rs.7450 per MT. Fort he week ending Sept 7, prices were close to Rs.6400 per MT on an average. Against maize, the prices are lower by 17%. The prices were about 15% higher than last year.
Sorghum prices were down by about 8% this week to Rs.9650 per MT at the market yard.. For the week ending Sept 7, the prices were Rs.10,500 per MT. Against last year the prices are up by 14%. Against maize the prices are up by 10%.
Barley prices were down by 4.6% this week to Rs.9200. For the week ending Sept 7, the prices were Rs.9600 per MT. Over last year, the prices are actually down by 1%, which may be good news for the brewery industrly.
On CBOT, the prices were $215.5 – 221.7 per MT for Sept – Dec delivery, The prices are up over last weeks close of $209 – 215 for the same months. The indicative FOB prices from US Gulf would be close to $240 – 245 per MT for Oct – Dec and for PNW $290 per MT.
Second largest US corn crop in offing
The WASDE report on Friday, Sept 12, 2008 shows an increase in domestic sorghum production and the second-largest corn crop on record. The increase in production is driven by global demand. U.S. sorghum production for 2008/09 is estimated at 10.82 MMT. Barley production is estimated at 4.746 MMT.
The 2008 corn crop is also projected at 306.78 MMT, though about 7 MMT lower against last month's estimates, it will still be be the second-largest crop in US history. The productivity is expected at 3.868 tons/Acre.
Information on food safety issues in world trade
Five commodity associations, U.S. Grains Council, U.S. Soybean Export Council, U.S. Meat Export Federation, the USA Poultry and Egg Export Association, and U.S. Dairy Export Council have joined hands to form Food & Agriculture Export Alliance (FAEA). The association has launched a new Web site facilitating international trade by providing information to promote better understanding of food safety based import and export standards.
The site, which is presented in both Chinese and English language, allows users to easily access U.S. and international food safety regulations, the latest news from appropriate regulatory agencies and training modules.
This site can be accessed in English at www.usfoodsafety.cn/webs/standards.aspx
Amit Sachdev
India Representative
U S Grains Council
bluecross303@gmail.com
Maize prices moved up by about 5.6% this to Rs.8700 per Mt at the market yards. For the week ending Sept 7, the prices were s.8200 per MT. Against last year, maize prices were ruling 21.5% higher. In the futures as well the prices from Aug 22 – Sept 12 period for Sept delivery have registered a upswing of 4%. Fir deliveries in months of Oct – Jan, the prices have gone up by 0.2 – 1%. In the spot markets as well, for the three week period, the prices at Nizamabad have shown an upswing of 2.5% to Rs.10,115, Karimngar up by 6% to 10,350 per MT . It was only at Davangere that the prices have been down by 0.7% to Rs.10400 per MT levels. Reports are that at some location in Andhra Pradesh, stocks have started to come into the market.
Pearl Millet prices added about 16.3% to its tally reaching Rs.7450 per MT. Fort he week ending Sept 7, prices were close to Rs.6400 per MT on an average. Against maize, the prices are lower by 17%. The prices were about 15% higher than last year.
Sorghum prices were down by about 8% this week to Rs.9650 per MT at the market yard.. For the week ending Sept 7, the prices were Rs.10,500 per MT. Against last year the prices are up by 14%. Against maize the prices are up by 10%.
Barley prices were down by 4.6% this week to Rs.9200. For the week ending Sept 7, the prices were Rs.9600 per MT. Over last year, the prices are actually down by 1%, which may be good news for the brewery industrly.
On CBOT, the prices were $215.5 – 221.7 per MT for Sept – Dec delivery, The prices are up over last weeks close of $209 – 215 for the same months. The indicative FOB prices from US Gulf would be close to $240 – 245 per MT for Oct – Dec and for PNW $290 per MT.
Second largest US corn crop in offing
The WASDE report on Friday, Sept 12, 2008 shows an increase in domestic sorghum production and the second-largest corn crop on record. The increase in production is driven by global demand. U.S. sorghum production for 2008/09 is estimated at 10.82 MMT. Barley production is estimated at 4.746 MMT.
The 2008 corn crop is also projected at 306.78 MMT, though about 7 MMT lower against last month's estimates, it will still be be the second-largest crop in US history. The productivity is expected at 3.868 tons/Acre.
Information on food safety issues in world trade
Five commodity associations, U.S. Grains Council, U.S. Soybean Export Council, U.S. Meat Export Federation, the USA Poultry and Egg Export Association, and U.S. Dairy Export Council have joined hands to form Food & Agriculture Export Alliance (FAEA). The association has launched a new Web site facilitating international trade by providing information to promote better understanding of food safety based import and export standards.
The site, which is presented in both Chinese and English language, allows users to easily access U.S. and international food safety regulations, the latest news from appropriate regulatory agencies and training modules.
This site can be accessed in English at www.usfoodsafety.cn/webs/standards.aspx
Amit Sachdev
India Representative
U S Grains Council
bluecross303@gmail.com
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