Coarse Grains Prices Slump
Maize prices slumped this week by 8% going below Rs.8000 per MT levels this week on an average at the market yard. The prices averaged Rs.7830 per MT, about 6.7% lower than the MSP announced by GOI. There are reports from Andhra Pradesh and Karnataka that GOI has stepped up purchases at the MSP level. The prices were about 14.7% higher than last year prices. The Nov average price was Rs.8137 per MT at the market yard, about 22% higher than last year.
In the future market, maize prices were up slightly by Rs.30 – 150 per Mt over last week’s close. While Dec delivery was Rs.8165 per MT, Feb delivery was Rs.8550 per MT. In the Spot markets as well, prices were up slightly in Nizamabad to Rs,8670 per Mt, but in Karimnagar and Davangere prices slumped to Rs,8506 and Rs.8585 pr MT. In Davangere prices were lower by Rs.300 per Mt over last week.
Pearl Millet (Bajra) prices also went down by 7.1% and were at Rs.7272 per MT at the market yard. The prices though are higher than last year by 4.1% for last week of Nov. Against Maize, the prices are lower by 7.7%. The average November value is Rs.7506 per Mt, similar to last month (October), but 11.4% higher than last year’s November average price at the market yard.
Sorghum (Jowar) prices slumped by 4.5% at the market yard over last week and averaged Rs.8867 per MT, Prices were 12.3% lower than last year’s prices. Against Maize, the prices are higher by 11.6%. Nov average prices were Rs.9083 per MT,, about 4.8% lower than last year.
Barley prices slumped by 1.1% to Rs.9195 per MT. prices are down by 8.5% against last year. November average price is Rs.9275 per MT, about 12% lower than last year.
In the future market the prices slumped by Rs.400 per MT over last week to Rs.10,296 per Mt for Dec delivery and Rs.10 ,888 per MT for April delivery. In the spot market too prices were down by Rs.300 per MT to 10358 per MT.
Corn prices on CBOT moved up by about 3.3% over last week for Dec / mar delivery. Dec delivery on CBOT was $137.55 per MT and Dec $143.92 per MT against $133.22 and $139.44 per MT last week.
Brazilian Poultry Market and Prices
Market reports project broiler meat production in Brazil to increase in 2009 by 5% on higher exports and domestic demand. The improved outlook for the Brazilian economy also supports higher domestic demand for animal protein in 2009. Brazil consumes about 37 kg of poultry meat per capita/annum against 45 kg per capita/annum in USA.
In 2000, Brazil farmers placed 27.5 Million broiler parents, which produced 3.2 billion broilers. The price of broiler in 2000 was $0.50 per kg and was sold at $0.68 per kg (RTC). The prices of corn and soybean meal were $0.129 and $0.18 per kg respectively.
A Sept 2008 report indicates that Brazil placed 50.52 million broiler parents and will produce 5.56 billion broilers in 2008. The RTC price of chicken was $1.27 per kg. Corn and Soymeal prices were $0.273 and 0.43 per kg. Current price of corn though is $0.145 – 0.148 per kg against $0.186 per kg price in India. Soymeal price in India currently is $0.30 per kg at the feed mill.
Amit Sachdev
India Representative
U S Grains Council
bluecross303@gmail.com
Maize prices slumped this week by 8% going below Rs.8000 per MT levels this week on an average at the market yard. The prices averaged Rs.7830 per MT, about 6.7% lower than the MSP announced by GOI. There are reports from Andhra Pradesh and Karnataka that GOI has stepped up purchases at the MSP level. The prices were about 14.7% higher than last year prices. The Nov average price was Rs.8137 per MT at the market yard, about 22% higher than last year.
In the future market, maize prices were up slightly by Rs.30 – 150 per Mt over last week’s close. While Dec delivery was Rs.8165 per MT, Feb delivery was Rs.8550 per MT. In the Spot markets as well, prices were up slightly in Nizamabad to Rs,8670 per Mt, but in Karimnagar and Davangere prices slumped to Rs,8506 and Rs.8585 pr MT. In Davangere prices were lower by Rs.300 per Mt over last week.
Pearl Millet (Bajra) prices also went down by 7.1% and were at Rs.7272 per MT at the market yard. The prices though are higher than last year by 4.1% for last week of Nov. Against Maize, the prices are lower by 7.7%. The average November value is Rs.7506 per Mt, similar to last month (October), but 11.4% higher than last year’s November average price at the market yard.
Sorghum (Jowar) prices slumped by 4.5% at the market yard over last week and averaged Rs.8867 per MT, Prices were 12.3% lower than last year’s prices. Against Maize, the prices are higher by 11.6%. Nov average prices were Rs.9083 per MT,, about 4.8% lower than last year.
Barley prices slumped by 1.1% to Rs.9195 per MT. prices are down by 8.5% against last year. November average price is Rs.9275 per MT, about 12% lower than last year.
In the future market the prices slumped by Rs.400 per MT over last week to Rs.10,296 per Mt for Dec delivery and Rs.10 ,888 per MT for April delivery. In the spot market too prices were down by Rs.300 per MT to 10358 per MT.
Corn prices on CBOT moved up by about 3.3% over last week for Dec / mar delivery. Dec delivery on CBOT was $137.55 per MT and Dec $143.92 per MT against $133.22 and $139.44 per MT last week.
Brazilian Poultry Market and Prices
Market reports project broiler meat production in Brazil to increase in 2009 by 5% on higher exports and domestic demand. The improved outlook for the Brazilian economy also supports higher domestic demand for animal protein in 2009. Brazil consumes about 37 kg of poultry meat per capita/annum against 45 kg per capita/annum in USA.
In 2000, Brazil farmers placed 27.5 Million broiler parents, which produced 3.2 billion broilers. The price of broiler in 2000 was $0.50 per kg and was sold at $0.68 per kg (RTC). The prices of corn and soybean meal were $0.129 and $0.18 per kg respectively.
A Sept 2008 report indicates that Brazil placed 50.52 million broiler parents and will produce 5.56 billion broilers in 2008. The RTC price of chicken was $1.27 per kg. Corn and Soymeal prices were $0.273 and 0.43 per kg. Current price of corn though is $0.145 – 0.148 per kg against $0.186 per kg price in India. Soymeal price in India currently is $0.30 per kg at the feed mill.
Amit Sachdev
India Representative
U S Grains Council
bluecross303@gmail.com
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