Traders, food cos eye bumper maize output in Karnataka

COIMBATORE/CHANDIGARH: Traders and food companies are hoping for a bumper maize production in Karnataka after rains damaged output in Andhra Pradesh.

With a robust demand from poultry, starch industry and export market, maize prices have remained firm at Rs 960-1,000 per quintal, which is nearly 10% more than the prices this time last year. At the future trading on NCDEX, the price was ruling at Rs 1,047 per quintal for January 20, 2011.

“The crop failure in Andhra Pradesh due to heavy rains has firmed up the maize prices. While the rabi sowing is said to be quite normal, the increasing international demand is keeping prices hot,” said R Krishnamurthi, chief executive officer of the Coimbatore-based poultry company, Shanthi Fortune, which has its presence in Tamil Nadu, Kerala, Karnataka and West Bengal.