New Delhi, May 8 (CommoditiesControl): In Bihar, maize prices remained largely unchanged today, with ample supplies managing to meet existing demand despite a sluggish pace of arrivals attributed to recent rainfall.
At the Gulabbagh mandi, a key trading hub, maize was quoted at a steady rate of INR 2080-2110 per quintal. However, arrivals in this zone were reported to be somewhat sluggish due to the effects of recent rains.
Buyers and sellers alike in rack and godown transactions also maintained prices at similar levels, indicating stability in the market despite external factors.
The recent rainfall in Bihar's major maize-producing regions has tempered expectations of a significant surge in arrivals in the near future. With most consumers exhibiting a cautious approach, preferring to purchase maize as needed rather than stockpiling at current rates, market dynamics remain balanced yet cautious.
Meanwhile, in other parts of the country, such as Andhra Pradesh (AP), maize prices stood firm at INR 2250 per quintal in origin markets and slightly higher at INR 2350-2370 per quintal in consumption hubs like Hyderabad. Arrivals in AP were reported at 4500 metric tons.
Tamil Nadu's maize market remained steady at INR 2450-2460 per quintal, with ongoing elections possibly contributing to market stability. Similarly, in Karnataka, prices hovered around INR 2450-2470 per quintal.
As weather conditions improve, expectations loom for a potential uptick in maize arrivals, which could subsequently apply downward pressure on prices. Furthermore, observing the cautious buying patterns in Maharashtra, AP, Telangana, Tamil Nadu, and Karnataka, analysts suggest that maize prices in Bihar may witness a decline of INR 20-30 per quintal in the coming days.
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