Maize prices up in India, arrivals slow; DDGS is good buy; Ingredient prices to go up if EU bans GM product imports
Harvest in India continues and the
reports are not very encouraging. The market yard prices range between
Rs.13000/MT is Telangana; Rs.13640/MT in Rajasthan; Rs.13520/MT in
Andhra Pradesh; Rs.13830/Mt in Uttar Pradesh (low 12800 – high
Rs.15000/MT) . Tamil Nadu is not a producer state in Khariff and hence
the prices were much higher at Rs.147300/MT. The grains size is small,
especially in drought hit areas.
This was also short week, with Dussehra
in mid week and Muhram on the weekend, which possibly made supplies slow
and lead to higher prices. Overall the Future prices on NCDEX were up.
Oct contract expired on 20th and was up 2.42% top Rs.13960/Mt; Nov up
3.11% to Rs.14240/MT; Dec up 3.32% to Rs.14330/MT; Jan up 3.69% to
Rs.14600/MT and Feb up 4.06% to Rs.14870/MT. Spot prices were mixed,
Nizambad up 1.20% to Rs.13865/MT; Davangere down 2.37% to Rs.14562/MT;
Karimnagar up 0.12% to Rs.13750/MT; Sangli up 1.03% to Rs.14750/MT and
Gulabbagh up 0.65% to Rs.14220/MT.
There has been an improvement un poultry
prices across the country, which is good sign, but still price in some
areas are below cost of production, which had shot up considerable due
to increased ingredient prices especially corn and SBM. The end users
are still wanting to buy non-conventional protein sources and prices
have gone up for these as well. International prices of the protein
meals, including SBM and DDGS have been low. SBM on CBOT was trading at
$302-305/MT and DDGS, a co product of the ethanol industry in the US
containing 26-28% protein and 6% fat was quoted at $185MT (FOB US Gulf)
and $195/MT (PNW). CNF price to Vietnam was indicated at $234/MT.
Bangladesh traders/end users have received quotes for DDGS @ $236/MT
(CNF Chittagong). CGM price in the US has been stable and it indicated
at $615/MT (FOB).
A most recent report from European Union
cites that if EU bans import of low priced, processed GM products,
which includes SBM and also the products, its ingredient prices count
increase by over 10 percent and this would eventually increase the
prices of meat, milk and eggs in EU. Many of the EU countries import Gm
products as feed ingredients and also some countries allow its planting
as well.
Corn prices in US remain stable as the
harvest progresses. As per an estimate almost 60 percent of the crop has
been harvested. Dec corn was up 0.80% to $149.44/MT; Mar up 0.26% to
$152.98/MT and May up 0.15% to $155.35/MT. FOB prices were indicated at
$177-180/MT (US Gulf); 184-187/Mt (PNW).
Indian barley prices continue to move up
as the crop is still to be planted. Spot price at Jaipur moved by 2.55%
to Rs.14500/MT. Feed barley in US is priced at $225/MT..................Amit Sachdev, USGC Representative for India
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