Maize prices stable at present, expect to go up next month

New Delhi, July 10 (UNI) Maize prices are stable for the time being, and are up by just 1 per cent over last week to Rs 7,300 per MT at the market yard.

The price though are higher than last year by 18.7 per cent.

As per the reports available, the consumption is likley to increase in the poultry and the starch sectors. Reports also indicate a higher area under crop as the prices have been very good.

Though most of the maize areas have received adequate rains, they have also caused havoc in some of the maize growing areas, which could be a cause of concern. It is still too early to predict the maize production for the year Khariff season.

Speculations of the higher price in the next month (August 2007) are also there, and prices are likley to open higher in the new season as well. Highest prices of maize was in Gujarat at Rs 8,240 per MT.

Bajra (Pearl Millet) prices were down by 1.7 per cent over last week to Rs 6,250 per MT, but the prices are higher than last year by 0.7 per cent. The prices are also lower than maize by 14.5 per cent, thus making it a comepetive commodity against maize. Layer farmers in north India can easily use the product, replacing maize partly in the rations.

Sorghum (Jowar) prices were down by 4.7 per cent over last week to Rs 9,260 per MT. The prices are higher than last year by 19 per cent and also higher than maize by 27 per cent.

Barley prices dipped by 4.7 per cent over last week to Rs 6,750 per MT at the market yard. The prices are also lower than last year by 7.4 per cent, according to a US Grains Council release here today.

UNI