Coimbatore: Maize prices continued to move northward amidst reports of crop damages in some parts of the country due to rains.
The spot price remained higher even as the market yard rates for the crop continued to rule higher for the week ended April 4.The futures prices too are firming up for the July delivery.
According to the US Grains Council’s India reports, price data, maize price at market yard (loose), was quoted at Rs 7,200 a tonne, marginally higher over the previous week’s price.
While price at Davangere market was at Rs 7,160 a tonne, the same was higher at Nizamabad at Rs 7,530 and Rs 8,375 at Nimbaheda, Rs 8,300 at Ratlam, whereas the price quote for Karimnagar market was Rs 7,390. The futures prices for April and July deliveries are put at Rs 7,700 and Rs 8,510 a tonne respectively.
The reports quoting market sources said that rains in parts of peninsula India have caused damages to crops, especially in some areas in Andhra and Tamil Nadu. They have also expressed apprehension on quality deterioration which may leave the commodity not suitable for use either by the starch industry or poultry feed sector.
Chicago Board of Trade rates rally: The US corn prices on the Chicago board of trade kept its rally with the quote for the July delivery crossing $6 a bushel (236 dollar a tonne). While the rate for May delivery closed at $235.42 a tonne, the same for the July delivery touched $240.62, the Council’s India reports added.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment