New Delhi, December 09 (CommoditiesControl): Maize prices remained steady today as warehouse activity in key growing regions slowed down, exerting pressure on market prices. While warehouse buying has reduced due to completed purchases in many locations, consistent rake loading has helped prevent a significant price decline.
In the Jalgaon zone, maize prices at warehouses were quoted at INR 2350-2375 per quintal, holding steady compared to the previous session. A key factor influencing this stability is the reduction in warehouse buying, as much of the stockpiling has already been completed. In addition, supply pressure from areas like Sillod (Ghat Line) is weighing on the market, contributing to the price plateau.
Today, arrivals in the Amalner mandi were reported at around 400-500 tons, down from 700-800 tons last week. Arrivals have been weak for the past three days, with peak volumes seen earlier at 1500-1600 tons. Based on current trends, arrivals are expected to remain within this range for the upcoming weeks. This decline in arrivals is placing some downward pressure on prices, though steady demand from key sectors is helping limit the fall.
In contrast, export demand from Mumbai has seen a slight uptick, with prices quoted at INR 2430-2450 per quintal, an increase of INR 20-30 per quintal. With the current market conditions, maize prices in North Maharashtra are expected to trade in a steady to firm range in the near term, supported by ongoing demand and limited supply growth.
Meanwhile, Karnataka, another major maize producing state, has reported arrivals of 40,000 tons, up from 30,000 tons last week. Prices have improved by INR 20 per quintal for quality supplies, now trading at INR 2400 per quintal at warehouses. However, the pace of arrivals in Karnataka has slowed to around 50-60% of peak levels in several districts. In districts like Chitradurga and Kottur, however, the pace of arrivals remains good, as their crop starts relatively later.
In Punjab, ethanol grains buyers have reduced prices by INR 5 per quintal, bringing the price down to INR 2670 per quintal, as supplies from Madhya Pradesh and Karnataka have remained strong. Similarly, in Chhindwara mandi, prices were quoted steady at INR 2250-2300 per quintal, with ex-warehouse prices ranging from INR 2380-2420 per quintal depending on quality.
The Rajasthan market is currently one of the highest-priced regions, with ex-warehouse maize trading at INR 2500-2520 per quintal. Rake loaders are purchasing at INR 2480 per quintal. In contrast, maize prices in the Gulabbagh region are steady at INR 2600-2650 per quintal. Importantly, two vessels from Myanmar have arrived at the Kolkata port, with prices between USD 285-288 per ton. However, any significant price decline is unlikely, as the markets have already accounted for these imports, largely driven by strong demand from the poultry and ethanol sectors.
Overall, maize prices are expected to remain in a stable range for the near term due to reduced arrivals, limited warehouse buying, and steady demand from export and industrial sectors. However, as supply begins to tighten in the coming weeks, a potential price increase could be observed as production slows down in key regions like Maharashtra, Karnataka, and Rajasthan.
(By Commoditiescontrol Bureau; +91 98201 3018)
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