November 8: Prices of French maize in Spain and Portugal are pushing higher as Italy and Greece seek supplies amid delays in the French harvest, traders said.Millers from northern France, facing delays in local harvests due to rains, were also seeking maize from the south of the country, they said.
He said Italy and Greece were taking advantage of competitive prices and buying forward months on the cash market. However, a Lisbon trader said Greece and Italy were seeking French maize to cover short positions and to compensate for delays in their harvests.
Spanish traders quoted imported French maize for November delivery at 22,800-23,250 pesetas per tonne last week, against 22,500-22,900 pesetas the previous week. Traders said maize from Caceres in Extremadura in western Spain, where small lots had still to be harvested, was among the cheapest in Spain.
They quoted maize ex-farmer for November delivery at 21,500-22,000 pesetas last week, compared with 22,000-22,250 the previous week. A Barcelonatrader said harvesting had been delayed in the Ebro River region in the north, because of fog and rain.
In Portugal, maize harvesting had progressed rapidly in excellent weather and traders said that if conditions remained favourable the harvest could be over by the end of November. Firmer maize prices were pushing wheat and barley prices up in Spain and Portugal, traders said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.