New Delhi, Sept. 3 (PTI): Prices of a number of commodities, including sugar, wheat, coffee and coal, have bucked the global price movements since the beginning of this year.
According to data collated by the country's leading commodity exchange NCDEX, prices of many agri commodities have moved opposite to the global trend through July this year. Energy commodities like coal has also discounted the world cues.
On the agri counters, maize prices have fallen by 8.4 per cent in international market, but went up by 0.7 per cent in the domestic market, NCDEX data shows. Maize is trading at Rs 696 per quintal for the September delivery at NCDEX.
Prices of wheat, sugar, coffee and barley also slipped in the local market in the range of 0.1-13 per cent. In the global market, prices of these commodities, however, went up in the range of 4-20 per cent between January to July 2007.
"As sugar production touched a record high in the current season, the government increased monthly sales quota due to which prices fell in India," Karvy Comtrade analyst Chowda Reddy said.
An NCDEX official said wheat prices in the domestic market softened following the arrival of new crop, harvested in April, in the market.
However, tea prices dipped both in India and abroad. Tea prices declined by 13.7 per cent in India and 11.5 per cent in international market.
In the energy segment, Coal prices have slumped by 0.3 per cent in India while moved up by 13.3 and in the global market.
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