Maize Market Remain Stable to Firm Prices with Regional Variations

New Delhi, July 5 (CommoditiesControl): The maize market showed mixed trends across different regions, with prices experiencing slight increases in various markets.

Gulabbagh Mandi: Prices increased by INR 30-40 per quintal, reaching INR 2450 per quintal. The finest quality maize sold at INR 2530 per quintal, up by INR 20 per quintal. Godown delivery for FAQ maize was traded at INR 2470 per quintal. The decrease in arrivals is attributed to supply deliveries occurring predominantly outside of Bihar.

Tuticorin Port: Spot imported maize prices rose to INR 2730 per quintal, an increase of INR 10 per quintal from the last session. Factory delivery rates ranged between INR 2850 and 2870 per quintal. Approximately 2.5 lakh tons of maize have been imported from Myanmar, with most of the imported supplies already disposed of. The domestic production deficit has maintained high prices in the southern region, particularly for poultry demand.

Uttar Pradesh Mandi: Prices increased by INR 40 per quintal to INR 2220 per quintal, supported by slow maize arrivals due to rainfall. Local merchants are currently unwilling to sell at these rates.

Maharashtra: In Pune, prices increased by INR 40 per quintal to INR 2820 per quintal due to limited supply and reluctance from local stockists to sell at lower rates. In Jalgaon, prices rose by INR 20 per quintal, now quoted at INR 2620 per quintal.

Karnataka: Prices remained consistent at INR 2550 per quintal, while in consumption markets, they fluctuated between INR 2700 and 2720 per quintal.

Starch Producers: Consistent supplies are being received from Kandla port, with around 2.8 lakh tons imported over the last 4-5 months. Ukrainian maize prices have risen due to low production, with anticipated delivery prices for new Ukrainian maize at INR 2400 per quintal, representing a INR 100-150 increase from the previous shipment.

TRQ Maize Supplies: If the government decides to import in the next 1-2 weeks, TRQ maize supplies are expected to be delivered in 50-60 days, potentially weakening the short- to medium-term supply situation.

Kharif Maize Sowing: As of June 28, Kharif maize sowing increased by 300% compared to the same period last year, reaching 23.53 lakh hectares. The anticipation of a bountiful maize harvest is supported by the realization of current maize prices and strong ethanol demand, which is providing substantial support to maize prices.

Given the current circumstances, maize prices in Bihar are expected to remain relatively stable to firm in the near future. With new Kharif supplies anticipated in India from October, prices may experience a modest increase in the medium term.