New Delhi, February 28 (Commodities Control): Maize prices continued to exhibit a steady to firm trend across various centers, supported by enhanced buying activities and a decline in kharif arrivals. In Maharashtra, maize prices remained stable at Rs 2350-2375 per quintal, maintaining this level for the past few weeks. The region has seen a slight improvement in domestic buying, although this has been offset by partial stock liquidation.
Gulab Bagh reported firm maize prices, reflecting an increase of Rs 15 per quintal at Rs 2400-2430. Notably, maize prices are currently at an all-time high for this season. The majority of supplies from this region are directed towards Punjab and Haryana.
In Karnataka, prices held steady at Rs 2350 per quintal, contributing to the overall firmness in the market. Meanwhile, Tamil Nadu (Erode) witnessed maize prices ranging from Rs 2400-2410 per quintal, with a one-month payment condition. In Madhya Pradesh, prices were reported to be weak, experiencing a decline of Rs 20-30 per quintal at Rs 2250-2260. This dip is attributed to low-quality maize and reduced buying from the poultry and starch sectors.
Market analysts anticipate maize prices to remain steady to firm in the near term due to the absence of new crops before March 15th. However, expectations indicate that a small quantity of the new crop may enter the market around March 15th in the Lalgola zone of West Bengal, potentially capping the continued rise in prices.
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