Rise in maize prices drives panic stocking in India | MED-Amin network | Scoop.it
By
Jayashree Bhosale, 27/11/2018

Spot maize prices have risen 7.6% over the past fortnight, driving end-users including poultry and livestock feed manufacturers to panic stocking.

Feed manufacturers are heading towards Chindwada in Madhya Pradesh, the only place in the country where maize availability is currently comfortable.

“We normally buy maize from Karnataka and Maharashtra. However, this year, even during the peak season, availability at these two places was not enough and neither was it of good quality,” said Latur-based Vijay Jadhav, a poultry feed manufacturer who purchased his requirements from Madhya Pradesh.

Spot maize prices for Sangli delivery increased to Rs 1,647/quintal on the National Commodity & Derivatives Exchange on Monday from Rs 1,531/quintal on November 12.

With the shortage developing during the crop’s peak arrival season, the feed industry is in panic mode.

Maize is the third most important cereal crop in India, after rice and wheat, and accounts for about 10% of the country’s food grain production. More than half the maize produced locally is consumed as poultry feed, while the rest goes as food for humans, animal feed and industrial processing.

Pune: Spot maize prices have risen 7.6% over the past fortnight, driving end-users including poultry and livestock feed manufacturers to panic stocking.

Feed manufacturers are heading towards Chindwada in Madhya Pradesh, the only place in the country where maize availability is currently comfortable.

“We normally buy maize from Karnataka and Maharashtra. However, this year, even during the peak season, availability at these two places was not enough and neither was it of good q ..