Maize prices at the market yard moved down by about 3% to Rs.8050 per MT, but the prices have been higher by about 7.4% against last year, during the same time. Overall demand is slow for the domestic sector, specially poultry and starch and purchases are for immediate requirements rather than storage for a long period as rabi crop is due to arrive soon and in some cases arrivals have started.

In the futures market (NCDEX), prices were lower than last week by 1 – 1.5% for Mar – June deliveries. In the SPOT market as well the prices fell by about 1% against last week at all locations.

Pearl Millet (Bajra) prices have moved up by about 1% to reach Rs.8557 per MT at the market yard. Prices have remained higher than last year by 21% and 6% higher than maize at the market yard.

Sorghum (Jowar) prices slumped by 12.4% against last week to reach Rs.8563 per MT. Prices are higher than last year by 12% and also 6% higher than maize.

Barley prices also moved up by about 1% to average at Rs.8780 per Mt at the market yard. Prices are lower than last year by 14.6% In the futures market on NCDEX, the April delivery was slightly lower than last week to Rs.8600 per MT, while May delivery was close to Rs.8700 per MT. In the SPOT market (Jaipur), the prices were Rs.8572 per MT, down by 2.6% against last week.

On CBOT, corn prices moved up by 6.5 – 7.5% over last week. While mar delivery was $147.62 per MT, Sept close at $160 per MT. Delivered values of Corn in the SEA region would be close to $210/212 per Mt in April /May to $215/218 per MT in may/June.

Reports indicate FOB values of corn from India to be close to Rs.164/170 per MT and with the price differential, their could be increase in exports from India as prices remain stable or go down in the wake of increased Rabi arrivals. Also the prices of corn from Argentina (FOB) is somewhat similar to India, but the lower freight makes Indian corn attractive. In such a situation, with production in India also lower than last year by about 2 MMT, any increase in exports could lead to higher prices during the period Jun – Sep.

Even though the demand in poultry and starch may be lower, indications are that the consumption of corn/maize in food as snacks, corn on cob, Breakfast cereals and direct food use is on the increase and in order to arrive at a true consumption picture, the food consumption must be captured correctly.

Food recall procedure to be in place

The Food Safety and Standards Authority of India (FSASI) has initiated steps to set up a food recall system in place for domestic as well as imported foods, that could be unsafe. The

Main objectives of the recall procedure is to set up guidelines for the manufactures, wholesalers and importers so as their could be a rapid identification of unsafe food and removal of the same from the food chain, informing consumers about potentially hazardous products. The recall procedure must be written and there must be a follow-up action that the same situation is not repeated.