Maize prices to rule above MSP, says TNAU
The farm gate price of good quality maize during harvest will be ₹2,200-2,300 per quintal, says TNAU
Maize prices are likely to rule above the minimum support price, according to the TN-IAM Project-funded Price Forecasting Scheme of the Centre for Agricultural and Rural Development Studies, Tamil Nadu Agricultural University, Coimbatore.
The farm gate price of good quality maize during harvest (December 23), will be ₹2,200-2,300 per quintal, which is higher than the MSP of ₹2,090 a quintal fixed by the Centre for the 2023-24 crop year. It urged the farmers to take up “appropriate marketing decisions”.
- Also read: Indian maize exports come to a standstill as domestic prices rise
The Price Forecasting Scheme analysed maize prices that prevailed in the Udumalpet agricultural produce marketing committee (APMC) yard market over the past 27 years.
India produced 34 million tonnes of maize from 10 million hectares in 2023-24 with the productivity being 3.43 tonnes/hectare. Major maize-producing states are Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu, West Bengal, Rajasthan and Bihar.
India exported 0.50 million tonnes of maize in 2023-24. Major buyers were Nepal, Bangladesh, Myanmar, Pakistan and Bhutan.
In Tamil Nadu, maize was cultivated on 0.4 million hectares with production being 2.99 million tonnes in 2022-23. Major maize-growing districts are Salem, Dindigul, Namakkal, Pudukottai, Tiruppur, Villupuram, Perambalur and Ariyalur.
- Also read: Foodgrain procurement under MSP reaches 106.27 million tonnes in 2022-23
An increase in the domestic price of maize reduced the competitiveness in the global market. According to a USDA report, the stock position and domestic consumption of maize in India is 2.2 million tonnes and 31.2 million tonnes, respectively, for 2023-24.
Source Link :- https://www.thehindubusinessline.com/markets/commodities/maize-prices-to-rule-above-msp-says-tnau/article67610515.ece
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