The Union Government has banned the export of maize till October 15 for increasing domestic availability of the commodity to check rising prices of poultry and starch products. The ban follows the persistent demand of the poultry industry and National Egg Co-ordination Committee for ban on exports and futures trading.
Recently, Union Commerce Secretary, G K Pillai had hinted that government might soon ban maize exports and futures trading. However, the government is yet to ban maize futures.
According to the Directorate General of Foreign Trade notification, the ban on export of maize is with immediate effect. Maize prices in the country are ruling at over Rs 900 per quintal in mandis, while in the US they have touched $400 per tonne (Rs 1,720 a quin tal). Maize is a key ingredient for poultry, livestock and starch industries, which require about one million tonnes of the commodity every month.
Source: Commodity Online
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