Even as the retail prices of pulses continue to pinch consumers, maize prices ruled high in the range of Rs 13,000 to Rs 14,730 per tonne last week amid slow arrivals of the crop, according to a report by US Grains Council.
“Harvest in India continues and the reports are not very encouraging. The market yard prices range between Rs 13,000 per tonne in Telangana, Rs 13,640 per tonne in Rajasthan, Rs 13,520 per tonne in Andhra Pradesh, Rs 13,830 per tonne in Uttar Pradesh,” USGC Representative for India, Bangladesh and Sri Lanka Amit Sachdev said.
In Tamil Nadu, which is not a maize producer state during kharif season, the prices ruled higher at Rs 14,730 per tonne and the grains size is small, especially in drought-hit areas, he said.
Since it was also a short week, with Dussehra and Muharram holidays, supplies were low leading to higher prices, he added.
In the futures market, prices on NCDEX were firm with October contract, which expired on 20th, up by 2.42 per cent at Rs 13,960 per tonne, while the November contract was up by 3.11 per cent at Rs 14,240 per tonne, and December was up 3.32 per cent at Rs 14,330 per tonne.
However, prices in the spot market were mixed, USGC said.
In Nizambad, prices were up by 1.20 per cent at Rs 13,865 per tonne, in Davangere down by 2.37 per cent at Rs 14,562 per tonne, in Karimnagar up by 0.12 per cent at Rs 13,750 per tonne, in Sangli up by 1.03 per cent at Rs 14,750 per tonne and in Gulabbagh up by 0.65 per cent at Rs 14,220 per tonne.
There also has been an improvement in poultry prices across the country. However, the prices in some areas are still below the cost of production, which have shot up considerably due to increased ingredient prices, especially corn and soyabean meal (SBM), USGC said.
It said that the prices also went up as end users still want to buy non-conventional protein sources.
Corn prices in the US remained stable as the harvest is still in progress.
As per an estimate, almost 60 per cent of the crop has been harvested, it added.