The Hindu : New Delhi News : Ban forward trading in maize, soya: NECC

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Ban forward trading in maize, soya: NECC

Staff Reporter

NEW DELHI: The National Egg Coordination Committee (NECC) has urged the Union Government to immediately ban forward trading in maize and soya meal and direct export of these commodities through a designated government agency.

The NECC also sought a ceiling on the volume of export of these commodities. It pointed out that these measures were imperative to ensure availability of these essential ingredients of poultry feed to poultry farmers at an affordable price and for ensuring that poultry products reach the consumers at a reasonable cost. “During the past two years, maize prices increased from Rs.500-525 per quintal to Rs.900 and in some places even up to Rs.1,000. Similarly the price of soya meal has increased from Rs.7,000 to Rs.8,000 per ton to Rs.19,000 per ton. This unjustifiable increase in spite of a substantial increase in production of maize is mainly due to forward trading and exports by big companies,” NECC said.

Forced towards closure

It said poultry farmers had been losing money for the past three years and unless the situation was remedied immediately 50 per cent of the industry comprising small farmers would be forced to close down. The consumers, too, would have to pay higher prices for eggs and chicken, it said.

According to NECC, the poultry industry contributes Rs.40,000 crore to the Gross National Product and provides employment to 3.2 million people and a setback to it would severely affect maize and soya farmers as well.

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