Ban Maize Exports by Pvt Trade: Poultry Sector

INDIA - The poultry industry, alleging that private traders and exporters have cornered huge quantity of maize (corn) for speculation, has demanded the Government to ban all maize exports by private trade. It has instead urged the channelising of the maize exports through State agencies such as state trading corporation.
calendar icon 4 January 2008
clock icon 2 minute read

Not opposed per se

The National Egg Coordination Committee, seeking export restriction on maize on behalf of the poultry industry, said the industry was not opposed per se to maize exports but it only wanted ban on exports by private trade, which in the garb of exports had chosen to hoard the stocks to speculate in the forward markets. This led to unreasonable increase in the prices, affecting the 3.2 million people engaged in the poultry farming in the country.

Steep increase

The Committee said during the past one year, maize prices recorded an increase of about 90 to 100 per cent. From an average price of Rs 500-550 a quintal in 2005-06, maize price rose to Rs 800-900 and in some North Indian centres, it had gone up to as high as Rs 1,000 per quintal. Stating such steep increase had never been witnessed in the last 35 years, it said the poultry industry was used to having the maize price ruling lower at all harvesting season.

Source: TheHinduBusinessLine

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