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Demand to ban forward trading of maize

Special Correspondent

Forward trading in wheat, rice already banned

NAMAKKAL: Poultry industry has asked the Union Government to ban the forward trading of maize, which they point out, has propelled a staggering 100 per cent increase in the price of maize, hitting the industry hard.

The National Egg Cocordination Committee has pointed out that this practice in maize without stocks being adopted by many multinational companies and hoarders has forced the maize prize to sky-rocket escalating the overhead expenditure of the poultry sector by 50 per cent.

The committee chairperson, Anuradha Desai, has said in a press release that poultry industry has been facing yet another crisis in two years in the form of forward trading.

The bird flu scare, last year, cost the industry Rs 10,500 crore.

"This new but strange crisis of trading without stocks has hit the industry very badly," she says.

Those connected with the poultry industry here say that with uncertain future staring at them, many small and medium farmers have stopped hatching eggs.

"Trading without stocks will neither benefit the farmers nor the consumers in anyway," they claim.

The Union Government, which has banned similar trading practice in rice and wheat, should extend the ban to maize too. "The Finance Minister in his budget speech has announced the banning of forward trading in rice and wheat citing various reasons. Similar reasons will suit the forward trading' of maize too," Ms. Desai says.

Hence, the forward trading of maize should immediately be banned in the country to save the poultry industry, she and farmers insist.

Subsidy

The State government will provide subsidy to farmers to adopt micro irrigation.

According to a press release here from the district administration, farmers can adopt drip irrigation system or sprinkler irrigation for coconut, groundnut, pulses and cotton cultivation.

Farmers having five acres and below are eligible. They can approach the respective block agriculture extension officers for more information.

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