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G. Gurumurthy

Coimbatore, April 14

Maize prices have turned sober this week amidst speculation on the Union Government extending the export ban on the commodity too.

The market yard (loose) price of maize that remained firm over the past several weeks tumbled last week from the previous week’s Rs 7,200 a tonne to Rs 7,090.

According to the US Grains Council’s India market report, the sobering maize price is partly due to increased arrivals of the rabi crop into major markets.

The fear of the Government extending the export ban to coarser grains is also believed to be behind the sobering prices this week which have seen the price of pearl millet (bajra) ruling lower by some nine per cent over previous week’s price at Rs 7,000 a tonne and the jowar (sorghum) at Rs 10,050 a tonne, some 1.2 per cent lower than the previous week’s price level. Barley prices too slipped to Rs 950 a tonne, some one per cent down from the previous week’s levels.

Maize futures on the Chicago Board of Trade closed lower at $229.98 a tonne for May 2008 delivery and the July delivery too quoted marginally lower at $235.18 a tonne.

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