INSUBCONTINENT EXCLUSIVE:
New Delhi: The domestic price of maize has started falling after the government reduced import duty on feed-grade maize to 15 per cent from
The move to reduce duty was aimed at improving domestic availability of the commodity in the wake of rising prices and concerns about a poor
On Thursday, the price of maize in Gulab Bagh mandi in Bihar corrected by 2 per cent over the previous day to Rs 2,100 a quintal, said Ummad
He said prices are expected to touch Rs 1,800-1,900 a quintal in the next 15 days.
Last month, ET had reported that reduction in duty was
likely.
Opening imports will give the much needed relief to the domestic industries, said Simon George, president, Cargill India
maize will be allowed on actual user condition, the Directorate General of Foreign Trade (DGFT) said
relaxations and conditions will be applicable.
