Deliveries of maize in the market yard has increased in the last one
week and that the spit prices continue to move lower in almost all
markets. But all the main in high moisture, ranging between 16-20
percent and hence storage of the new maize will be a problem and could
lead to higher level of fungal growth and hence toxins. The poultry
industry continues to be in negative with chicken selling below cost of
production, this affecting the pick up of maize from the markets.
Nizamabad down 5.52% to RS.13700/MT; Davangere down 2.72% to
Rs.14916/MT; Karimnagar down 1.91% to Rs.13733/MT; Sangli down 5.81% to
Rs.14600/MT and Gulabbagh down 0.57%to Rs.14128/MT. The future prices on
the other hand were mixed. The closed up contracts were down while
other contracts were up. Oct down 6.72% to Rs.13630/MT; Nov down 0.29%
to Rs.13810/MT; Dec up 0.65%to Rs.13870/MT; Jan up 1.88% to Rs.14080/MT
and Feb up 3.10% to Rs.14290/MT.
In the US corn prices have been down following the WASDE report. The corn harvest continues at a fast pace and prices are expected to go down further as per some experts. The world is likely to be full of corn to feed the animals. Dec contract was down 1.57%to $148.26/MT; Mar down 1.475 to $152.59/MT and May down 1.50% to $155.11/Mt. The Fob prices were also down slightly and were indicated at $176-179/MT (FOB US Gulf) and $183-186/MT (ONW) for the delve period Oct-Dec 2015. The origin prices remain stable and were indicated at $160-166/MT (Argentina); $161-168/MT (Brazil); $166-169/MT (Black Sea origin) and $177-180/MT (France). the prices are for the period Oct-Dec 2015.
In the US corn prices have been down following the WASDE report. The corn harvest continues at a fast pace and prices are expected to go down further as per some experts. The world is likely to be full of corn to feed the animals. Dec contract was down 1.57%to $148.26/MT; Mar down 1.475 to $152.59/MT and May down 1.50% to $155.11/Mt. The Fob prices were also down slightly and were indicated at $176-179/MT (FOB US Gulf) and $183-186/MT (ONW) for the delve period Oct-Dec 2015. The origin prices remain stable and were indicated at $160-166/MT (Argentina); $161-168/MT (Brazil); $166-169/MT (Black Sea origin) and $177-180/MT (France). the prices are for the period Oct-Dec 2015.
The protein situation is somewhat
critical for Indian end users as the prices are higher domestically.
Also India’s traditional buyers (importers) have decided to find other
origin products, which are cheaper. Indian exports are left out of the
markets. Just as an example, US SBM is quoted at $350/MT (FOB) and
delivered to Indian Subcontinent in bulk at $390/MT. In containers, it
is priced at $450/MT. Comparatively Indian SBM is being quoted at
$540/MT (FOB). Domestic SBM is priced at $646/MT (Rs.42000/MT) delivered
to South Indian feed manufacturers. Indian DDGS is priced at
Rs.26000/MT (Delivered south India) ($400/MT) and US DDGS is being
quoted at $183/MT FOB US Gulf) and $189/MT (FOB PNW) and delivered to
SEA region at $224/MT (Vietnam) and to China at $209/MT.
US CGM is priced at $615/MT and could be
delivered to SEA region in containers at $700-710/MT, while Indian feed
manufacturers have to purchase CGM in South India at $892/MT
(Rs.58000/MT). Higher cost to production of meat, milk and eggs and
lower revenue will affect the growth of the industry at large. There has
to be way to make available affordable ingredients to the industry to
feed the animals, which produce animal protein to feed the nation.
Barley prices too are also moving up in
India as the next crop will be available in April/May 2016. Current SPOT
price of barley is Rs.14185/MT at Jaipur. US Barley is priced at
$225/MT (FOB US Gulf) and Malting barley at Great Falls was indicated at
$200/MT. (Amit Sachdev, USGC Representative for India)
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