October 5, 2009
 
India Oilseed Weekly: India corn, coarse grain prices to go up (Week ended Oct 3, 2009)
 
An eFeedLink Exclusive
 
 
Price Summary
  
A mixed trend was noticed in the oilseeds and meals prices in last concluding week. 
 
Rate of soy in Indore market was down by Rs330 per tonne and traded at Rs.19, 820 as compared to last week's price of Rs20, 150 per tonne. 
 
Soymeal in Indore market was also down by Rs.300 per tonne and traded at a price of Rs17, 200 per tonne as compared Rs.17, 500 per tonne.     
 
Soymeal 48% was down by Rs200 and traded at Rs17, 900 per tonne in comparison to last week's price of Rs18, 100 per tonne.
 
Price of peanut kernel was up in this week, with a margin of Rs.400 per tonne and settled at Rs.24, 000 per tonne as compared to last week's price of Rs23, 600 per tonne. However, price of peanut meal remained stable and traded at Rs19, 000 per tonne.
 
Price of rapeseed was down by Rs1, 750 only and traded at Rs22, 000 per tonne as compared to last week's price of Rs23, 750 per tonne. Rapeseed extraction was also down by Rs100 this concluding week and settled at a price of Rs.10, 900 as compared to last week's price of Rs11, 000 per tonne.
 
Sunflower was up by Rs610 and traded at Rs20, 500 compared to last week's price of Rs19, 890 and its extraction was down by Rs200 in the last concluding week and traded at price of Rs11, 000 compared to last week's price of Rs11, 200 per tonne respectively.    
 
 
Market Analysis
 
There was a three- day trade as Monday was a holiday on account of Dusherra while Friday was a holiday on account of Gandhi Jayanti.
 
Corn prices were down about 3.2 percent this week to Rs.9, 000 per tonne. Prices remained higher than last year by about nine percent and average prices for September 2009 was Rs.9, 220 per tonne, about 8.4 percent higher than September 2008 and three percent lower than August 2009.
 
Prices in almost all states were down except in Andhra Pradesh where prices moved up by 6.2 percent to Rs.9, 000 per tonne.
 
Prices in Gujarat down 5.6 percent to Rs.9, 500 per tonne; Maharashtra down 1.6 percent to Rs.9, 000 per tonne; Rajasthan down 2.6 percent to Rs.9, 300 per tonne; Tamil Nadu down 0.5 percent to Rs.8, 600 per tonne; Uttar Pradesh down 6.2 percent Rs.9, 300 per tonne. Prices in Karnataka remained stable at Rs.8, 700 per tonne.
 
Pearl Millet (Bajra) prices were up this week by 3.5 percent to Rs.9, 230 per tonne. New arrival of pearl Millet has started in Haryana. Prices are higher than last year by 21.2 percent. The prices against corn are higher by 3.1 percent. An average price in September 2009 was Rs.9, 014 per MT, 26.2 percent higher than September 2008, but 0.25 percent lower than August 2009.
 
Prices of Sorghum (Jowar) moved up higher by 31.7 percent this week to Rs.12, 680 per tonne. Prices are higher than last year by 20.7 percent and corn was also higher than corn by 29.5 percent. The average price of sorghum in September 2009 was Rs.12, 118 per tonne, 25 percent higher than September 2008, but about nine percent lower than August 2009.
 
Barley prices moved up by 22.3 percent to Rs.8, 730 per tonne but prices were down from last year by 6.8 percent. Average price in September 2009 was Rs.7, 885 per tonne, 17 percent lower than September 2008 and down by 4.5 percent against August 2009.
 
In the futures market the prices for October 2009 delivery was down by 0.5 percent to Rs.8, 750, For December prices down by 0.24 percent to Rs.9, 140 per tonne; April 2010 delivery up 1 percent to Rs.9, 300 per tonne. In the spot market (Jaipur), prices were up by 0.26 percent to Rs.8, 300 per MT.
 
CORN:
 
Monsoon rain received over parts of east Maharashtra and Andhra Pradesh will enhance moisture availability in deep soils of north peninsula. Corn crop is mostly in cob development stages here. Increased acreage in parts of Karnataka and Andhra Pradesh coupled with healthy growth will enhance yield expectations.
 
SOY:
 
Early soy that is in flowering to pod formation stages is healthy under optimum moisture. Current weather in pats of Andhra Pradesh and Karnataka will benefit the crop. Current dry and sunny weather in Punjab and other parts of north India will aid the crop at seeding and maturity stages.
 

The comparison rates of nine commodities like Soy/ Peanut/ Rapeseed/ Sunflower and their meals

Commodities

Prices as on Sep 26

Prices as on Sep 30

Difference

   Soy (Indore)

    Rs 20, 150

    Rs 19, 820

   - Rs 330

   Soy Meal Indore

    Rs 17, 500 

    Rs 17, 200

   - Rs 300

   Soy Meal 48%

    Rs 18, 100

    Rs 17, 900

   - Rs 200

   Peanut Kernal

    Rs 23, 600

    Rs 24, 000

   +Rs 400 

   Peanut Meal

    Rs 19, 000

    Rs 19, 000

        Stable

   Rapeseed

    Rs 23, 750 

    Rs 22, 000

   - Rs1, 750

   Rapeseed Meal

    Rs 11, 000

    Rs 10, 900

   - Rs 100 

   Sunflower

    Rs 19, 890

    Rs 20, 500

   +Rs 610

   Sunflower Meal 

    Rs 11, 200

    Rs 11, 000

   - Rs 200

US$1 = INR 47.51 (Oct 5, 2009) 

 


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