This week was a 3 day trade week, Monday was a holiday on account of Duserra while Friday was a holiday on account of Gandhi Jayanti.
Maize prices were down about 3.2% this week to Rs.9000 per MT at the market yard. Prices remained higher than last year by about 9%. The average price for Sept 2009 was Rs.9220 per MT, about 8.4% higher than Sept 2008 and 03% lower than Aug 2009. Prices in almost all states were down except in Andhra Pradesh where prices moved up by 6.2% to Rs.9000 per MT. Prices in Gujarat down 5.6% to Rs.9500 per MT; Maharashtra down 1.6% to Rs.9000 per MT; Rajasthan down 2.6% to Rs.9300 per MT; Tamil nadu down 0.5% to Rs.8600 per MT; Uttar Pradesh down 6.2% Rs.9300 per MT. Prices in Karnataka remained stable at Rs.8700 per MT.
In the futures market (NCDEX) prices moved up for Oct 2009 delivery to Rs.9100 per MT. Prices in Nizamabad were down 0.6% to Rs.8920 per MT; Davangere down 0.78% to Rs.8751 per MT and prices in Karimnagar were up by 0.6% to 8790 per MT.
Pearl Millet (Bajra) prices were up this week by 3.5% to Rs.9230 per MT. New arrival of pearl Millet have started in Haryana. Prices are higher than last year by 21.2%. The prices against maize are higher by 3.1%. Average prices in Sept 2009 was Rs.9014 per MT, 26.2% higher than Sept 2008, but 0.25% lower than Aug 2009.
Prices of Sorghum (Jowar) moved up higher by 31.7% this week to Rs.12680 per MT. Prices are higher than last year by 20.7%. Prices are higher than maize by 29.5%. The average price of Sorghum in Sept 2009 was Rs.12118, 25% higher than Sept 2008, but about 9% lower than Aug 2009.
Barley prices moved up by 22.3% to Rs.8730 per MT. Prices were down from last year by 6.8%. Average price in Sept 2009 was Rs.7885 per MT, 17% lower than Sept 2008 and down by 4.5% against Aug 2009.
In the futures market the prices for Oct 2009 delivery was down by 0.5% to Rs.8750, Fpr Dec dprices down by 0.24% to Rs.9140 per MT; Apr 2010 delivery up 1% to Rs.9300 per MT. In the spot market (Jaipur), prices were up by 0.26% to Rs.8300 per MT.
On CBOT, corn prices moved up for both Dec 2009 and Mar 2010 delivery by 5.29% and 0.46% to $131.56 per MT and $136.21 per MT. May 2010 delivery prices were quoted at $139.83 per MT. FOB value (US gulf) was indicated at $163 per Mt for Oct/Nov/Dec, while FOB PNW was indicated at $194/195 for the same period.
DDGS prices (FOB US Gulf) have more or less remained stable at $144/145 per MT for Oct/Nov/Dec period. CNF values for the SEA region were indicated at $210 – 216 per MT. The total exports for the period Jan – July 2009 from US are 2.614 MMT, up about 7% against last year same time period. Some major buyers in SEA region include China (+34 TMT), Bangaldesh, Philippines (+64 TMT), Vietman (+113 TMT). In all these countries use of DDGS has helped reduce cost of production of meat, milk and eggs and has assisted in taming the rate of inflation. In the US too, the increased production and sage of DDGS is expected. As per reports US is likely to produce 43.47 billion liters of Ethanol in calendar year 2009.
Without the use of alternative protein and energy sources in India it will be difficult to reduce the cost of production of meat, milk and eggs. Molasses, as a source of energy is used extensively in cattle feed is priced at Rs.11500 per MT feed mill delivery. GOI is thinking of reducing the excise duty on molasses to reduce the cost of cattle feed and the burden on the farmers.
New corn products in the market
Corn is a source of energy specially for poultry and dairy. School of Nutrition of the Philippine Women’s University (PWU) has developed the energy bar from corn for physically active individuals. The energy bar will be made from white flint corn grits (why not yellow). Corn due to its high Amylose content would be a good meal, similar to corn flakes.
Energy bars in India have found a niche and quite a few people who are on the move prefer to consume energy bars not available in India and made indigenously. Using corn as a source of energy will be more feasible and healthy.
Amit Sachdev
India Representative
U S Grains Council
email: usgcindia@gmail.com
No comments:
Post a Comment