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G. Gurumurthy

Coimbatore, Sept 23

Maize price in Karnataka fell by 11 per cent to Rs 6,300 per tonne as compared to last week’s Rs 7,100 and the market sources attributed the easing of price to the arrivals of new crop in some areas.

Across the country, the market yard corn rates prevailed at the same level as in the previous week at Rs 6,800, according to a US Grains Council India report on current commodity prices.

The report citing the Union Government said the first estimates on the 2007-08 khariff crop have projected a maize production of 13.07 million tonnes from a crop area of 7.617 million hectares with an average yield at 1.71 tonnes per hectare. When compared to the 2006 kariff production of 11.43 mt, this year’s production would be a new record. The report said that with maize export not being canalised, there are reports of export commitments made to neighbouring countries primarily to take advantage of the prevailing freight. It said that the US has reported harvest of some 14 per cent corn crop. The corn prices on the Commodity Board of Trade had closed at $148.22 per tonne for December delivery which is about $10 higher over last week’s quote.

More Stories on : Foodgrains | Karnataka

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