The Hindu Business Line : Call to ban forward trading in maize

Advertisement

Visakhapatnam March 2 The National Egg Co-ordination Committee (NECC) has urged the Union Finance Minsiter, Mr P. Chidambaram, to impose a ban on forward trading in maize, as he did in wheat and rice, as it is making life miserable for the poultry farmers and the egg consumers are also suffering. Besides, the maize farmers too are not reaping the benefit.

Mr K. Varahala Raju, Zonal Chairman of NECC, said at a press meet here on Friday that the NECC had represented to the Finance Minister even before the Budget that forward trading in maize should be banned.

Domestic market prices of maize, the chief ingredient in poultry feed, had risen by 100 per cent ever since the introduction of forward trading "due to manipulation and hoarding by speculators and the MNCs."

The input cost for egg and broiler production had gone up by 50 per cent.

He said the loss after the avian flu was estimated at Rs 10,500 crore and the poultry sector was in no position to sustain itself, with the steep hike in the cost of maize. "At present, the per-quintal cost of maize is Rs 900 against Rs 600 last year and there are no substitutes available such sesame cake which can be used as substitutes. Maize is the major and almost the sole ingredient. Other ingredients such as broken rice have also become costly," he complained.

He said that Andhra Pradesh, the leading egg producer, with output of 6 crores per day, was feeling the pinch badly. The State Government too was making matters difficult by charging commercial power tariff for poultry farms. "In Maharashtra, the poultry farmers are paying Rs 2 per unit whereas it is Rs 6.50 per unit in Andhra Pradesh. The State Government should reduce it immediately," he pleaded.

More Stories on : Foodgrains | Commodity Exchanges | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Allow small growers to hedge risks in futures market'

Metal futures post quantum jump on NMCE

Parsoli to encourage more investment in precious metals

National aquaculture centre to be opened at Kakinada today

For farm sector, time to go beyond the Budget

`Budget has made an effort to address farming risks'

Spot rubber prices weaken

Sugar stocks stage comeback amid bearish condition

Golden Leaf tea tasting competition on March 22

Call to ban forward trading in maize

NECC seeks ban on maize futures

Bearish trend grips pepper futures market

Jeera futures down on weather forecast

Increasing exports