Corn prices surge up to Rs 14,400 per tonne on slow arrivals

Maize prices during last week jumped up suddenly as deliveries remained slow and market tight leading to higher than average prices, according to the US Grains Council.
Overall corn prices across the country averaged at market yards at Rs 13,400-14,400 per tonne, USGC Representative for India, Bangladesh and Sri Lanka Amit Sachdev said in a report.
Maize delivered to warehouses (loose material and packed material) were priced at Rs 14,000-15,400 per tonne and in north India were the highest at Rs 16,000 per tonne.
In Rajasthan, price was at Rs 13,900 per tonne for loose material and packed maize was available at Rs 14,500 per tonne, delivered to Gujarat at Rs 15,500 per tonne.

Nizamabad price was up 4.36 per cent at Rs 14,470 per tonne, Davangere up 1.29 per cent at Rs 14,750 per tonne, Karimnagar up 1.33 per cent at Rs 13,933 per tonne, Sangli up 0.34 per cent at Rs 14,800 per tonne and Gulabbagh up 2.19 per cent at Rs 14,531 per cent.
The future prices too jumped and November contract was up 4.07 per cent at Rs 14,820 per tonne, December up by 4.82 per cent at Rs 15,020 per tonne, January up 5.48 per cent at Rs 15,400 per tonne, February up 5.58 per cent at Rs 15,700 per tonne.

In global markets, as per reports, almost 75 per cent of the corn crop in the US has been harvested and as corn arrives in the bins, the prices are more or less stable.
Other origin prices too have remained the same as last week with Argentine and Brazilian corn at USD 172 and Black Sea at USD 174 per tonne.
French corn price was at USD 185 per tonne.