Maize Prices Show Steady to Firm Trend Amid Improved Buying and Reduced Arrivals

New Delhi, February 26 (CommoditiesControl): Maize prices continued to exhibit a steady to firm trend across major centers, buoyed by increased buying activities and a decline in kharif arrivals. In Gulabbagh, prices were reported to be steady to slightly firm, ranging between INR 2320-2380. Poultry buyers from North India and Uttar Pradesh have been actively procuring maize from Bihar due to the scarcity of good quality maize.

Stockists are becoming hesitant to sell maize at the current rates, reflecting a cautious sentiment in the market. In Bihar, warehouse stock prices stand at INR 2350, while full March prices are quoted at INR 2425 per quintal, indicating a firming trend.

The Poultry Feed Association anticipates maize prices to potentially touch INR 30 per kg unless additional quantities are imported. Approximately 60% of the maize production is consumed by the poultry feed industry, making it the largest consumer of the grain. Of the total maize produced, 210 lakh tons are utilized by the poultry feed industry, starch consumes 100 lakh tons, and only 15 to 20 lakh tons are allocated for human consumption.

The acreage of the Rabi crop of maize has shown an increase, raising expectations for a better output. However, significant quantities of the new crop are expected to enter the market only towards the end of March, particularly in Telangana. Bulk supplies from Bihar are projected to commence in mid-April.

Limited new maize supplies are anticipated in Madhya Pradesh and Maharashtra in the coming weeks, but their impact on prices is expected to be minimal due to the small quantities involved. Prices in Madhya Pradesh traded steadily with a negative bias at INR 2250-2260 per quintal. Karnataka reported steady prices at INR 2350 per quintal, while Tamil Nadu traded at INR 2410 per quintal with a one-month payment condition. Rajasthan prices were in the range of INR 2300-2310 per quintal.

Given the current market scenario, maize prices are likely to maintain a steady to firm trend in the near term.