Agri Business

Fresh bout of rain may soften maize, ragi prices

Anil Urs Bangalore | Updated on September 07, 2012

BL08_AGRI_RAGI

Prices of maize and ragi are expected to soften by 10-15 per cent in the short-term.

At present maize is trading at Rs 1,480/100 kg at Davangere and ragi at Rs 1,450/100 kg in Bangalore.

“The market is assessing the impact of rain since late August and continuing now, as more area has been covered in north Karnataka and old Mysore areas,” said B.V. Gopal Reddy, Vice-President, Karnataka Maize Merchants’ Association.

coverage down

“As fresh sowing has been completed in new areas, we are looking forward for two more bouts of rain – one now (Ganesha festival) and another (around Dasara) to determine the output,” he added.

According to Karnataka Agriculture Department, maize coverage (as on August 28) is down by 16.06 per cent to 9.85 lakh hectares against 11.7 lakh hectares during the same period a year ago.

Normal coverage during the period is 8.96 lakh hectares.

Currently, the standing maize crop is healthy in Shimoga, Haveri and Chitradurga regions.

Sowing has concluded in Navalgund, Gadag and few other places in north Karnataka.

“If rain fails during September and October, then we may see a 40-45 per drop in maize output,” said Reddy.

Price outlook

According to Balachandra K. Naik of Domestic and Export Market Intelligence Cell, Karnataka Agricultural University: “The price of maize is expected to be drop to around Rs 1,100-1,200 in September and October and Rs 1,200-1,300 in November in Ranebennur market. However, prices are likely to improve after November.”

Ragi

Ragi coverage has improved due to late rain. Prices which quoted Rs 1,600 a quintal earlier are now lower by Rs 100 and is currently trading between Rs 1,450 and Rs 1,500.

Ragi coverage (as on August 28) is down by 38.57 per cent at 3.79 lakh hectares ( 6.17 lakh hectares).

Normal coverage for the period is 6.14 lakh hectares.

> anil.u@thehindu.co.in

Published on September 07, 2012

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