Northeast monsoon has commenced over extreme south peninsula India on Tuesday due to the setting in of northeasterly winds in the lower tropospheric levels, India Meteorological Department said. Prices of maize in 2022 are seen averaging $225 per tn, lower than $250 estimated in the current year, mainly due to higher production and ending stocks, the World Bank said in a report. Global maize production is expected at 1,198.2 mln tn in the 2021-22 season, up 7.4% from the previous year, while ending stocks are estimated at around 301.7 mln tn compared with 290.0 mln tn in the previous season. The Centre has asked all states and union territories to hasten the process of issuing stockholding limits for oilseeds and edible oils as a step towards ensuring that the benefits of import duty cuts are passed to consumers, an official release said.
Source:moneycontrol.com