Tuesday, 25 August 2015
MCX TIPS- MAIZE AGRI MARKET UPDATE 25- 08-2015
Maize settled up by 2.46% at 1377 tracking firmness in spot demand despite of weak trend in overseas prices. The October requirement of 1.5 million tonne too will need to be met with the stocks from 2014-15 crop.
The availability from Uttar Pradesh is poor and prices are now at over Rs 12,600 per tonne and delivered to Haryana ranging between Rs 14,000-14,400 per tonne.
There was increase of almost Rs 1,500 per tonne in 15 days. Delivered price of maize to south India, particularly Coimbatore region from Bihar is now at Rs 15,500 per tonne or more.
China's imports of corn and corn substitutes, including barley, sorghum and distillers' grain (DDGS) hit a record high in July as feed mills took advantage of cheap overseas prices to replace expensive domestic grain.
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