August 1, 2008

India's NECC urges government to extend ban on corn exports

India's National Egg Coordination Committee (NECC) has appealed to India's Federal Government to extend its current ban on corn exports further to a period of one year, or at least six months.

The current ban, enacted to staunch the flow of corn out of the country as high international prices prompted a run on Indian corn, was slated to end October 15, 2008.

The NECC is an industry organization which has in the past called for market intervention measures, ran egg promotion campaigns and liased with the government on production issues. NECC members, numbering about 25,000, supplies most of India's eggs.

The NECC has also appealed to the Government to impose a ceiling on the stock holding by traders so as to avoid hoarding.

The organization also urged that corn exports by private exporters be banned permanently and a designated government agency be appointed to oversee the country's corn exports even after the ban is lifted.

The NECC has further appealed for an interest subvention of eight percent on bank loans availed by poultry farmers, for a period of at least two years. 

Corn prices in India have cooled after the ban began but have since risen.

Soymeal prices have also risen by 50 percent from last year's levels to about Rs 24,500 currently.