Jodhpur, Feb 21 (Commoditiescontrol): Maize prices in various markets have maintained stability as the current supply meets demand requirements. However, a careful analysis suggests potential future shifts in the maize market, particularly with poultry demand expected to be influenced by the Bihar crop's projection.
In Chindwara, prices have remained steady at INR 2300-2310 per quintal, while Maharashtra prices also held firm at INR 2300 per quintal. Notably, media reports indicate an increased demand for maize in the ethanol sector, projected at 0.8 million tons in ESY 2023-24, with the potential to rise to 3.4 million tons in ESY 2024-25.
The Karnataka maize market is experiencing a lack of movement, with both arrivals and market activity in a dormant state. Prices, however, remain unchanged at INR 2350 per quintal, persisting for several weeks.
Tamil Nadu witnesses stable maize prices at INR 2350-2370 per quintal, although stockists show limited activity in the market. In Kolkata and Kharagpur, maize prices have held steady at INR 2525-2550 per quintal over the past few days. Demand from bulk buyers in these regions currently exhibits a relative slowdown.
The anticipation of the Assam crop arrival from the first week of March and West Bengal crop in late March, post-Holi, adds a temporal dynamic to the maize market. Meanwhile, Punjab/Haryana trades at INR 2550-2575 per quintal (MP line), and Bihar Punjab is line trading at INR 2575-2600 per quintal.
With no immediate crop supplies expected in the next month, maize prices are predicted to maintain stability and potentially witness firming in the near term.
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