Maize Prices Remain Steady in UP and Bihar Amid Slow Buyer Activity

New Delhi, June 26 (CommoditiesControl): Maize prices continued to trade steady across centers in Uttar Pradesh and Bihar on Wednesday as buyers slowed down after a sustained uptrend in prices. However, declining arrivals coupled with regular domestic buying provided support to the prices. Recent rains in Uttar Pradesh have slowed the build-up of arrivals.

India has permitted corn imports under the TRQ (Tariff Rate Quota) scheme at a 15% duty for a total of 500,000 tons. Further details regarding this decision are expected from the Government of India tomorrow.

In Karnataka, maize sowing has reached 898,900 hectares, significantly higher than last year’s 125,400 hectares. Maize remains the largest cereal crop in the state, making Karnataka one of India’s major maize producers. Motor-cut maize prices remained steady at INR 2,180-2,190 per quintal, but most sellers are reluctant to sell at these rates. Rack loading prices have declined to around INR 2,250 from this area.

Starch-producing companies are not very active in purchasing maize due to imports from Ukraine. Meanwhile, domestic poultry farms are actively buying maize, anticipating potential quality issues in future supplies due to rain damage in Bihar and the impending rains in Uttar Pradesh.

Ethanol buyers are actively purchasing maize at INR 2,300-2,320 per quintal and are expected to remain active until prices reach the INR 2,500 range.

In Gujarat, Maharashtra, and Haryana/Punjab, buyers are actively purchasing maize from Uttar Pradesh, but there is a short supply of trucks, and many sellers from Uttar Pradesh are reluctant to sell at current rates.
- Anand (Gujarat poultry) line trades: INR 2,510-2,520 per quintal
- Nasik and Pune line trades: INR 2,650-2,700 per quintal for UP maize
- Rajasthan (Ajmer/Sumper) line trades: INR 2,400-2,450 per quintal for UP maize
- Haryana/Punjab trades: INR 2,320-2,340 per quintal

Given the current scenario, maize prices in Uttar Pradesh are likely to rise by INR 50-100 per quintal in the near term.

In Bihar, maize prices traded steadily as buyers slowed down following a continuous price uptrend. However, declining arrivals and regular domestic buying continued to support the prices.

Gulabbagh prices remained steady at INR 2,300-2,400 per quintal today. A slight downtrend of INR 10 per quintal was observed for lower-quality maize, while good quality prices remained steady.

Approximately 60-65% of Bihar maize has been delivered out of the state so far, with around 15-20% in stock and 15-20% still with farmers and in fields.

Southern buyers are still active for Bihar maize, with several rakes delivered to Karnataka (Bagalkot zone) at around INR 2,600 per quintal and Tamil Nadu at around INR 2,650 per quintal.

Given the current scenario, Bihar maize prices are likely to trade steady to firm in the near to medium term.

(By CommoditiesControl Bureau: +91-9820130172)