New Delhi, April 18 (Commoditiescontrol): Today, Bihar maize prices remained steady to slightly firm, driven by active rack loading activities that provided support to the prices. However, the gains were limited due to increasing new arrivals in the market.
In Gulab Bagh Mandi, around 3000 MT of new maize arrived, leading to a modest increase in prices by INR 10, with prices quoted at INR 2100-2120 per quintal.
Rack loading operations commenced in several regions including Purnea, Seemapur, Kursela, Naugachia, Mansi, Bhavanipur, Sonamukhi, and Alamnagar, with prices ranging from INR 2080 to INR 2120 per quintal.
In Andhra Pradesh (AP), maize arrivals have initiated with around 1000 MT entering all mandis. Mandi prices are currently trading between INR 2160 and INR 2200 per quintal, while ex-warehouse prices stand at INR 2240 per quintal. AP maize supplies are being transported to Tamil Nadu at INR 2500 per quintal (inclusive of a freight charge of INR 250 per quintal).
Maize prices have been gradually increasing in Karnataka and Maharashtra over the last few sessions, attributed to declining arrivals. If Bihar maize prices witness a decline of INR 30-60 per quintal from current levels and prices in Maharashtra/Karnataka exhibit a slight uptrend, Bihar maize prices may reach parity for delivery to the Maharashtra zone. Thus, considering the current scenario, Bihar maize prices are unlikely to drop below the range of INR 2050-2075 per quintal.
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