Maize is stable, other coarse grain prices move up in Indian market
Maize prices remained stable in the last week of the year at about 7650/7700 per MT range, though the prices were higher than last year by about 9.2% for the last week of the year. The month average for maize for Dec 2008 at the market yard (loose stock) is about Rs.7815, which is 15% higher than last year, but 4% lower than Nov 2008 levels.
The average prices are down from the peak in Aug 2008 (Rs.8900 levels at market yard) by about 12.32%, which is boon to the poultry farmers. The cost of Soybean meal on the other side has not come down and are currently at Rs.16000 per MT delivered at some mills. The cost of production thus is still at Rs.39-42 per kg of chicken. As there has been a lower placement of parent stock and corresponding commercial broiler placement, the price of live broiler in South India was ruling at close to Rs.56-58 per kg.
In the futures market (NCDEX), the prices have moved up by close to 2.36% for near month delivery (Jan – Mar) over last week values. The prices though remain at Rs.8000 per MT, about 4.76% lower than the MSP announced by GOI. In the Spot markets of Nizamabad and Karimnagar the prices moved lower by 1.5% against last week prices to Rs.8160 per MT., while in Davangere the prices were close to Rs.8050 per MT range.
Pearl Millet (Bajra) prices have also remained stable at Rs.7750 per MT range, but are higher than last year by 14.8%. The prices are higher than maize by 0.6%. The monthly average was at Rs.7650, about 15.4% higher than last year and about 1.7% higher than Nov 2008 for market yard prices.
Sorghum (Jowar) prices have moved up by about 23.5% to Rs.10,120 per MT. prices are 8.5% higher than last year and about 24% higher than maize. Average month pries was s.Rs.9036, about 6.5% lower than last year, and o.5% lower than Nov 2008 for market yard prices.
Barley prices added 9.7% to the tally this week, averaging Rs.9150 per MT, but remained lower than last year prices for the last week of the year by 12.8%. Monthly average prices were Rs.8870 per MT, about 13% lower than last year and 4.3% lower than Nov 2008 levels. The prices for Dec 2008 are lower than the peak average prices in Jun 2008 (Rs.11253) by about 21% for market yard prices.
The spot prices of barley at Jaipur moved down by 4.76% to Rs.8725 per MT. while in the futures the prices for April delivery remained unchanged at Rs.10442 per MT.
The prices of corn on CBOT were similar to last week’s close at $162.27 and $166.36 per MT for March and May delivery respectively. One of the reasons being attributed is the seasonal holidays, which keep the business at lower ebb.
The freight market has remained subdued this week in the US, due to the holiday season. The US-Gulf – Japan index was $23 per MT, PNW-Japan was $13, also US Gulf – Egypt for 55000 ton was $13 per MT as per latest report. The delivered value of corn to Egypt would be in the range of $198-200 per MT.
*** The information provided in this report has been derived from various sources, which are believed to be reliable and accurate but can not be guaranteed. All market data is subject to change in tandem with market conditions. Please obtain market updates and reconfirm all values before making any trading decisions based on the above data.
Maize prices remained stable in the last week of the year at about 7650/7700 per MT range, though the prices were higher than last year by about 9.2% for the last week of the year. The month average for maize for Dec 2008 at the market yard (loose stock) is about Rs.7815, which is 15% higher than last year, but 4% lower than Nov 2008 levels.
The average prices are down from the peak in Aug 2008 (Rs.8900 levels at market yard) by about 12.32%, which is boon to the poultry farmers. The cost of Soybean meal on the other side has not come down and are currently at Rs.16000 per MT delivered at some mills. The cost of production thus is still at Rs.39-42 per kg of chicken. As there has been a lower placement of parent stock and corresponding commercial broiler placement, the price of live broiler in South India was ruling at close to Rs.56-58 per kg.
In the futures market (NCDEX), the prices have moved up by close to 2.36% for near month delivery (Jan – Mar) over last week values. The prices though remain at Rs.8000 per MT, about 4.76% lower than the MSP announced by GOI. In the Spot markets of Nizamabad and Karimnagar the prices moved lower by 1.5% against last week prices to Rs.8160 per MT., while in Davangere the prices were close to Rs.8050 per MT range.
Pearl Millet (Bajra) prices have also remained stable at Rs.7750 per MT range, but are higher than last year by 14.8%. The prices are higher than maize by 0.6%. The monthly average was at Rs.7650, about 15.4% higher than last year and about 1.7% higher than Nov 2008 for market yard prices.
Sorghum (Jowar) prices have moved up by about 23.5% to Rs.10,120 per MT. prices are 8.5% higher than last year and about 24% higher than maize. Average month pries was s.Rs.9036, about 6.5% lower than last year, and o.5% lower than Nov 2008 for market yard prices.
Barley prices added 9.7% to the tally this week, averaging Rs.9150 per MT, but remained lower than last year prices for the last week of the year by 12.8%. Monthly average prices were Rs.8870 per MT, about 13% lower than last year and 4.3% lower than Nov 2008 levels. The prices for Dec 2008 are lower than the peak average prices in Jun 2008 (Rs.11253) by about 21% for market yard prices.
The spot prices of barley at Jaipur moved down by 4.76% to Rs.8725 per MT. while in the futures the prices for April delivery remained unchanged at Rs.10442 per MT.
The prices of corn on CBOT were similar to last week’s close at $162.27 and $166.36 per MT for March and May delivery respectively. One of the reasons being attributed is the seasonal holidays, which keep the business at lower ebb.
The freight market has remained subdued this week in the US, due to the holiday season. The US-Gulf – Japan index was $23 per MT, PNW-Japan was $13, also US Gulf – Egypt for 55000 ton was $13 per MT as per latest report. The delivered value of corn to Egypt would be in the range of $198-200 per MT.
*** The information provided in this report has been derived from various sources, which are believed to be reliable and accurate but can not be guaranteed. All market data is subject to change in tandem with market conditions. Please obtain market updates and reconfirm all values before making any trading decisions based on the above data.
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