In the light of the latest surge in the price of maize to an all-time high of Rs 1040 per quintal, National Egg Co Ordination Committee (NECC) has reiterated its appeal to the government to immediately ban forward trading in maize and soya meal, and, canalize the exports through a designated government agency and ban export by private traders.
NECC maintained that during the past two years, there has been an unprecedented increase in the price of maize and soya meal?the most crucial ingredients of poultry feed?mainly due to forward trading, speculation and hoarding by traders and multi-national companies, and, a substantial increase in the volume of export of these commodities. The price of maize increased from Rs 500-525 per quintal in 2006 to Rs 900 and in some parts of the country, even to Rs 1000. Similarly, the price of soya meal increased from Rs 7000-8000 per ton to the present price of Rs 21,000.
NECC said that this is the worst crisis being faced by the industry in thirty years. In 2006 and in January 2008, the industry had faced crises due to incidences of bird flu. But, the crisis lasted a few weeks, and, the industry, with the help of the government, was able to recover from the set back. However, the present crisis is far more serious and longer lasting, and the industry is bleeding for the past two years.