Commodity prices stay up
Maize prices were down for the week ended Aug 29, 2008 by 0.6% to Rs.8740 per MT at the market yard. But the prices were about 18.2% higher over last years prices in the last week of Aug 2007. For the month of August 2008, the prices averages Rs.8914 per MT, about 21% higher than Aug 2007.
Pearl Millet (Bajra) prices were up by 2.8% to Rs.7585 per MT and were also 11.5% higher than last year prices. The prices were lower than maize by 15.2%. For the month of Aug 2008, prices were Rs.7657 per MT at the market yard, about 13.7% higher than Aug 2007 average.
Sorghum (Jowar) prices were up by 8.6% this week to Rs.11,655 per MT at the market yard. The prices were higher than last year by 21%. Against maize the price are higher by 25%. For Aug 2008, the prices averaged Rs.10919 per MT, about 17% higher than Aug 2007.
Barley prices slumped by 1.7% this week to Rs.9960 per MT at the market yard, but the prices were about 19.3% higher than last year values. For the month of Aug 2008, the prices were Rs.10,256 per MT, about 30% higher than Aug 2007 prices.
On Feb 29, 2008, corn on CBOT for Sept and Dec delivery closed at $223 – 230 per MT, about $7 lower than last week’s close. FOB (US Gulf) values for Sept – Dec were close to $250 – 255 per MT. FOB (PNW) for Oct – Dec were close to $295 per MT.
US Grains Council brings Dr.Shukla to India
The All India Starch Manufacturers Association (AISMA) organized a starch application seminar on Aug 26, 2008 at Ahmedabad. Dr.Triveni P Shukla, independent consultant for U S Grains Council provided insights to the participants on the new products and applications.
Dr.Shukla was of the opinion that as the food and the packaging industry grows, the demand for value added starches will grow and the industry will need to move in that direction. At the same time, the industry will need to work closely with the new Food Standards and safety Authority (FSSA), and create new food standards where starch is used as an ingredient and not considered as an adulterant in food. In india the average per capita starch consumption is less that 0.5 kg, which in the US is over 6.0 kg.
On the efficiency factor, Dr.Shukla opined that the use of water in starch production should be 1:9., i.e., for every ton of corn at least 9 tons of water must be used. This water used mostly for steeping and washing plays an important role in the starch recovery, which is US is about 68%.
Amit Sachdev
India Representative
U S Grains Council
bluecross303@gmail.com
Maize prices were down for the week ended Aug 29, 2008 by 0.6% to Rs.8740 per MT at the market yard. But the prices were about 18.2% higher over last years prices in the last week of Aug 2007. For the month of August 2008, the prices averages Rs.8914 per MT, about 21% higher than Aug 2007.
Pearl Millet (Bajra) prices were up by 2.8% to Rs.7585 per MT and were also 11.5% higher than last year prices. The prices were lower than maize by 15.2%. For the month of Aug 2008, prices were Rs.7657 per MT at the market yard, about 13.7% higher than Aug 2007 average.
Sorghum (Jowar) prices were up by 8.6% this week to Rs.11,655 per MT at the market yard. The prices were higher than last year by 21%. Against maize the price are higher by 25%. For Aug 2008, the prices averaged Rs.10919 per MT, about 17% higher than Aug 2007.
Barley prices slumped by 1.7% this week to Rs.9960 per MT at the market yard, but the prices were about 19.3% higher than last year values. For the month of Aug 2008, the prices were Rs.10,256 per MT, about 30% higher than Aug 2007 prices.
On Feb 29, 2008, corn on CBOT for Sept and Dec delivery closed at $223 – 230 per MT, about $7 lower than last week’s close. FOB (US Gulf) values for Sept – Dec were close to $250 – 255 per MT. FOB (PNW) for Oct – Dec were close to $295 per MT.
US Grains Council brings Dr.Shukla to India
The All India Starch Manufacturers Association (AISMA) organized a starch application seminar on Aug 26, 2008 at Ahmedabad. Dr.Triveni P Shukla, independent consultant for U S Grains Council provided insights to the participants on the new products and applications.
Dr.Shukla was of the opinion that as the food and the packaging industry grows, the demand for value added starches will grow and the industry will need to move in that direction. At the same time, the industry will need to work closely with the new Food Standards and safety Authority (FSSA), and create new food standards where starch is used as an ingredient and not considered as an adulterant in food. In india the average per capita starch consumption is less that 0.5 kg, which in the US is over 6.0 kg.
On the efficiency factor, Dr.Shukla opined that the use of water in starch production should be 1:9., i.e., for every ton of corn at least 9 tons of water must be used. This water used mostly for steeping and washing plays an important role in the starch recovery, which is US is about 68%.
Amit Sachdev
India Representative
U S Grains Council
bluecross303@gmail.com
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