Mumbai, Nov 22 (Commoditiescontrol) Prices of maize mostly stayed weak in major markets of the producing states on Tuesday as arrivals increased. However, good demand from domestic industry and overseas markets are keeping prices intact in major mandis, a trade analyst said. Arrivals reported marginal uptick amidst dry weather across the Maize growing states, and arrivals are likely to continue in a stagggred manner due to expected higher prices on the back of good demand, he added.
Moisture continued to remain around 13-16% in Madhya Pradesh, between 13-16% in Southern states of Karnataka, Andhra and Telangana.
Mandi prices are hovering around 2,000-2,060 per quintal in Madhya Pradesh, 2,100-2,220 in Andhra Pradesh and Telangana markets, between Rs 2,040-2,200 in Karnataka markets. Vizag, Krishnapatnam port also witnessed good export demand, and buying for export purposes continued in the market. Most of the exporters were trying for rake bookings. Rake loadings continued to remain good from Karnataka and Madhya Pradesh to Krishnapatnam Port and Vizag port and port delivery prices are quoting between Rs 2,310- 2,330 per Qtl, as per the trade sources.
As per market sources around 5.0 lakh tons are contracted for exports till December. But no new export contracts are reported. Prices in Gulabbagh market are hovering between Rs 2,420-2,460 per Qtl. Good demand for the domestic market and Bangladesh market supporting the prices.
Demand from starch, feed manufacturers and stockists are reported good today as well, stockists are aggressive in buying activity on anticipation of further price rally on the back of good export demand. Delivery prices for the feed manufacturers also found uptick and is hovering between Rs 2,320-2,450 per Qtl.
Rabi Maize acreage is reported at 3.92 lakh ha, compared to 3.12 lakh ha of last year on the back of increased acreage in Bihar, Karnataka, Gujarat, Maharashtra and Tamilnadu. Better prices is likely to keep acreage higher in the current season and crop condition is reported good across the growing regions.