FCI floats bids to sell 31566 tonnes of Maize

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Apr 2008

The Food Corporation of India has invited bid to sell 31,566 tonnes of maize along with other foodgrain across the country next month. An official release said that it has floated tender inviting bids for sale of 31,566 tonnes of maize. Bids would close on May 26 and the decision on the same would be taken on the same day, FCI said on its website. Of 31,566 tons of maize, 16,890 tons would be sold in Andhra Pradesh, 6,289 tons in Maharashtra, 2,432 tons in Karnataka, 2,400 tons in Orissa, 2,364 tons in Chhattisgarh and 1,190 in Madhya Pradesh, it said.
Experts said maize availability would be better this year as production is estimated at 16.78 million tons in 2007-08 seasons. Prices in the domestic market are stable and comparatively lower than the international rates.
At present, domestic prices are ruling at Rs 725 per quintal level, while global rates stand at Rs 940 per quintal mark, they said. Both good production and conducive price situation is expected to boost overseas sale as well. Exports may surge to the tune of 2.4 million tons this year, traders said.
Besides maize, FCI plans to sell 75,645 tons of bajra and 341 tons of jowar. As per the tender, 63,286 tons of bajra would be sold in Haryana, 11,544 tons in Maharashtra and 815 tons in Madhya Pradesh. As far as jowar is concerned, 238 tons would be sold in Karnataka and 103 tons in Maharashtra.
FCI has a scheme of open market sale (OMS) in which the agency sells the foodgrain to private traders through tender.

Source: Commodity Online