Mix of prices in the last week of the year 2009

Wishing you a Healthy, Wealthy and Wise 2010

May you make bigger and better decisions in 2010, that will help make this world a better place to live.

May your decisions reduce the carbon footprint..........., but don't forget to drink more milk, eat more corn and demand a safe product.

Mix of prices in the last week of the year 2009

Maize prices moved lower in the market by 3.5% in the last week of the year to Rs.9325 per MT. Prices remained higher than last year by 17.5%. The average prices for the month of Dec 2009 was Rs.9373 per MT, up 19.79% against last year (Dec 2008) average and 0.42% higher than Nov 2009. While the prices moved up slightly in Andhra Pradesh and Gujarat by 0.75% and 0.8% to Rs.8585 and Rs.10090 per MT respectively, prices have moved lower in Maharashtra 1.91% to RS.8533; Rajasthan 5.41% to Rs.9913; Tamil nadu 1.34% to Rs.8810; and Uttar Pradesh 4.87% to Rs.9750 per MT.

In the futures market as well, prices moved lower for Feb, Mar and April contracts by 3.5%, 4.6% and 5.9% respectively. While Feb contract ended at Rs.9570 per MT, Mar was down to Rs.9750 and Apr at Rs.9950 per MT. This being the last week of the year and long holiday in the companies. High deliveries in the market, could be one reason of the price correction. In the spot markets as well, the markets corrected and were down in Nizamabad by 1.88% to Rs.9167. In Karimnagar prices were up slightly at Rs.0.36% to Rs.9138, while in Davangere prices were stable at Rs.9142 per MT.

Pearl Millet prices moved up by 5.1% this week to Rs.10402, higher by 25.6% against last year. Prices were also higher than maize by 10.4%. The average price for the month of Dec was Rs.10089, 32% higher than Dec 2008 average and 2.6% lower than Nov 2009.

Sorghum prices corrected and were down by 10.2% to Rs.12299 per MT at the market yard. Prices were higher than last year by 17.7%. Prices were higher than maize by 24.2%. The average price for Dec 2009 was Rs.12611 per MT, 39.56% higher than Dec 2008, but 4.31% lower than Nov 2009 average.

Barley prices moved lower than last week by 8.4% to Rs.8528 per MT, 7.2% lower than last year. The average for the month was Rs.8747 per MT, 1.4% lower than Dec 2008 and 8.68% lower than Nov 2009.

In the futures market, prices were up by 1.16% for Apr to Rs.10460 per MT and up by 1.93% for May contract to 10650 per MT. In the Jaipur market, prices were up by 0.88% to Rs.9500 per MT.

This week was again a short week, but prices gained on CBOT from the three contracts, Mar up by 1.47% to $163.14 per MT, May up 1.33% to $166.99 per MT and Jul up by 1.12% to $170.46 per MT. Indicative FOB values for Gulf and PNW were $190 and $211 per MT.

Amit Sachdev,

India Representative,

U S Grains Council

Email: usgcindia@gmail.com