Coarse Grains prices move up
Maize prices at the market yard on an average moved up to Rs.8100 per MT, adding 1.5% to the last week’s prices. The prices were 13.3% higher than last year’s prices at the market yard. Delivery prices across the country are going up. At the consumption centers e.g., Gujarat Rs.9400 per MT; Maharashtra Rs.8900 per MT; Andhra Pradesh Rs.8800 per MT; Uttaranchal Rs.10700 per MT. Reports of export deliveries to Bangladesh and Pakistan @ 210 – 220 per MT have possibly caused the increase in prices.
In the futures market corn prices have moved up across the board by 4.5 - 4.7%, adding about Rs.400 per MT over previous week’s prices. Even in the Spot markets of Davangere, Karimnagar and Nizamabad, the prices moved up by 2.6 – 3% over last week prices.
Pearl Millet (Bajra) prices have moved downward to Rs.7595 per MT, a loss of 6.3%. The prices though remain higher than last year’s values by 13.2%. Against maize, the price of Pearl Millet at the market yard was down by 6.6%.
Sorghum (Jowar) prices have added 1.2% to the prices, averaging Rs.9415 per MT at the market yard The prices are 4.7% lower than last year’s prices, but remain 14% higher than maize prices at the market yard.
Barley prices averaged Rs.9373 per MT, adding 4.4% to the values. The prices have move up by 1% against last year’s prices. In the Spot market, the prices moved up by Rs.400 per MT to Rs.8900 per MT, adding 4.7% to the tally.
Reports are that drought is Argentina is more serious that previously thought. The country agriculture office has projected corn production to fall to 15.5 MMT against 20.85 MMT produced in 2007/08, a drop of 25%. USDA had reported a production estimates of 16.5 MMT in Jan 12, 2009 report. Exports are likely to be anywhere between 6-9 MMT, down from last year’s 15 MMT Farmers, who until four months back were protesting against the export tax, not are looking towards to government to give them some relief. Soya crop as per reports may not be as badly affected, but production is expected to be 41-42 MMT, against 46.2 MMT last year, a drop of 11%. This may help the prices of corn and soybean to move up in the world market.
On CBOT, corn closed at same pries as last week for the Mar $153.69; May $158; Jun $162.19 per MT. FOB values (UD Gulf) were indicated in the range of $177 – 180 per MT, While Sorghum FOB US Gulf was indicated at $164-168 per MT. DDGS prices to SEA region were $210 per MT.
Maize prices at the market yard on an average moved up to Rs.8100 per MT, adding 1.5% to the last week’s prices. The prices were 13.3% higher than last year’s prices at the market yard. Delivery prices across the country are going up. At the consumption centers e.g., Gujarat Rs.9400 per MT; Maharashtra Rs.8900 per MT; Andhra Pradesh Rs.8800 per MT; Uttaranchal Rs.10700 per MT. Reports of export deliveries to Bangladesh and Pakistan @ 210 – 220 per MT have possibly caused the increase in prices.
In the futures market corn prices have moved up across the board by 4.5 - 4.7%, adding about Rs.400 per MT over previous week’s prices. Even in the Spot markets of Davangere, Karimnagar and Nizamabad, the prices moved up by 2.6 – 3% over last week prices.
Pearl Millet (Bajra) prices have moved downward to Rs.7595 per MT, a loss of 6.3%. The prices though remain higher than last year’s values by 13.2%. Against maize, the price of Pearl Millet at the market yard was down by 6.6%.
Sorghum (Jowar) prices have added 1.2% to the prices, averaging Rs.9415 per MT at the market yard The prices are 4.7% lower than last year’s prices, but remain 14% higher than maize prices at the market yard.
Barley prices averaged Rs.9373 per MT, adding 4.4% to the values. The prices have move up by 1% against last year’s prices. In the Spot market, the prices moved up by Rs.400 per MT to Rs.8900 per MT, adding 4.7% to the tally.
Reports are that drought is Argentina is more serious that previously thought. The country agriculture office has projected corn production to fall to 15.5 MMT against 20.85 MMT produced in 2007/08, a drop of 25%. USDA had reported a production estimates of 16.5 MMT in Jan 12, 2009 report. Exports are likely to be anywhere between 6-9 MMT, down from last year’s 15 MMT Farmers, who until four months back were protesting against the export tax, not are looking towards to government to give them some relief. Soya crop as per reports may not be as badly affected, but production is expected to be 41-42 MMT, against 46.2 MMT last year, a drop of 11%. This may help the prices of corn and soybean to move up in the world market.
On CBOT, corn closed at same pries as last week for the Mar $153.69; May $158; Jun $162.19 per MT. FOB values (UD Gulf) were indicated in the range of $177 – 180 per MT, While Sorghum FOB US Gulf was indicated at $164-168 per MT. DDGS prices to SEA region were $210 per MT.
Amit Sachdev
India Representative
U S Grains Council
usgcindia@gmail.com
No comments:
Post a Comment