The Hindu Business Line : Maize exports seen at 30 lakh t

Maize prices in mandis across the country are rising sharply as exports are believed to be firm. The US Grains Council in its latest India market report put the size of maize exports at around 30 lakh tonnes for the 2007-08 season.

The report quoted the higher price spread for delivered maize to the South-East Asian region over the US maize is the trigger. The current Indian maize price offered for shipment delivered to Malaysia is $275-285 a tonne against the US corn delivered at $370 a tonne, the report says.

Domestic rates

Domestic maize price across India for loose variety this week is reported to be stable at Rs 7,200 a tonne, whereas the same in Karnataka and Maharashtra has shown a rising trend.

The delivered supplies are quoted higher and the prices for example in Karnataka (Bangalore) are reported higher at Rs 9,000 a tonne.

Whereas in some markets in the South, the price of maize delivered in a gap of one week has seen a price surge from Rs 8,500 to Rs 8,900 a tonne.

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Maize exports seen at 30 lakh t