India maize prices stable, but still higher than world rates

Even as maize prices stabilised in the country during the last week, they were still ruling higher than the rates in the international market, according to the US Grains Council (USGC).

"Indian maize prices did not rally much on a weekly basis and were range bound during the last week even though the crop is being harvested," said USGC Advisor - India, Bangladesh, Sri Lanka - Amit Sachdev.

Jalgaon prices were in the range of Rs 14,000-14,250 per tonne, down 1.72 per cent over last month. Nizamabad was down 0.75 per cent at Rs 15,200-15,300 per tonne, Davangere down 0.31 per cent at Rs 16,100-16,250 per tonne, Sangli down 1.85 per cent at Rs 15,900-16,100 per tonne and Gulabbagh down 4.17 per cent at Rs 12,600-12,800 per tonne.

This was due to slow supplies and within May, there were few days when rains affected the delivery, Sachdev said.

Indian maize continued to be be highest priced in the world market and even though, as per the government data, the country has produced over 26 million tonne of corn, there has been no export, he added.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)