DINDIGUL: Farmers are in happy mood as procurement prices of maize, a primary feed ingredient for poultry industry, hit an all time high of Rs.1,170 per quintal at Palani Agricultural Producers Cooperative Marketing Society (PAPCMS) here on Wednesday.
It may go over Rs.1,200 during the next auction on Saturday, according to society sources.
Maize has been auctioned in the society on Wednesdays and Saturdays. It was a D-Day in the life of farmers. The society had sold 2.98 lakh of kg of maize in the last 18 days. Total maize sales in the society were over Rs.73 lakh, according to A. Gunasekaran, Special Officer, PAPCMS.
Earlier, maize price had touched a maximum of Rs.800 per quintal only. Normal price was between Rs.500 and Rs.650 only.
To rope in farmers into the society for the sale of their produce, the officials visited their farms and explained the facilities available at the market. Unlike other open markets, the society has been conducting auction in the presence of farmers. Moreover, payment was made immediately. At the same time, buyers were allowed to pay a portion of the bill as advance and settle the balance the next day. Such a facility attracted farmers to supply their produces to the society and also attract even outstation buyers, said Mr. Gunasekaran.
Despite a ban on maize exports to meet the growing demand in domestic market, the price has been ruling high this week owing to bulk purchase by companies as they feared that maize production would come down during this season and would not meet the growing demand of poultry industry.