New Delhi, Bihar, April 10 (Commoditiescontrol): Maize trading in Bihar maintained stability today, with current supplies proving adequate to meet existing demand levels. The arrival of regular new maize arrivals exerted pressure on prices, although consistent buying activity helped limit any significant price declines.
Around 1,500 metric tons of new maize arrived today Gulabbagh mandi, with prices holding steady at Rs 2,200-2,225 per quintal, unchanged from the previous session.
Ready delivery Bihar maize prices for Punjab/Haryana delivery stood at Rs 2,460, while forward trade for May delivery was not quoted below Rs 2,400.
Ethanol producers, facing constraints in rice supply from the government, are increasingly turning to maize for ethanol production. Consequently, they are expected to display aggressive buying behavior to stock Bihar maize.
Noteworthy trades were observed for Godown May 15 delivery at Rs 2,100, with bulk buyers yet to enter the market for stocking purposes. Given the current market dynamics, it appears challenging for Bihar maize spot prices to decline below the Rs 2,100 levels.
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