Maize prices remain stable for five weeks in a row

By Staff
|
Google Oneindia News

New Delhi, Jun 3 (UNI) In view of better availability of the crop from the Rabi season, prices of maize remained stable at Rs 7,000 per MT at the market yard for five weeks in a row, which is very unusual.

''This could be due to better availability of the crop from the Rabi season and low offtake of the crop, as most of the end users are covered. Also, as the demand in summer months is down due to high heat, the stability might be stretched,'' say analysts.

The demand might pick up as monsoons hit the country at different locations and it is difficult to predict the prices now.

Pearl Millet (Bajra) prices were down 6.3 per cent over last week at Rs 6,300 per MT. The prices are currently at four per cent lower than last year and also 10 per cent lower than maize price.

With such low prices, the layer farmers can certainly use the commodity at 5-7 per cent in the rations to further reduce the feed cost, according to a US Grains Council statement here.

Sorghum (Jowar) prices were up by four per cent over last week, at Rs 9,350-9,400 per MT range. The prices are about 14 per cent higher than last year and running about 33 per cent higher than maize. It may be bizzare, but sorghumis also a human staple in many parts of the country, particularly in parts of Maharashtra, Karnataka, Andhra Pradesh, Rajasthan.

Barley prices are stable at Rs 6,800-6,900 range at the market yard and the prices are 13 per cent lower than last year.

UNI

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