Mumbai, May 3 (CommoditiesControl): Bihar maize prices continued their steady to slightly firm trend today, buoyed by active rack loading and godown stocking activities. Prices in Gulabbagh mandi saw an uptick of Rs 20 per quintal, ranging between Rs 2030-2060 per quintal. Similarly, godown and rack buyers quoted prices slightly higher by Rs 5-10 per quintal.
Freight prices in Bihar are gradually increasing towards other destinations, making it challenging for buyers from other regions to secure supplies at lower rates. Rack deals for Bihar maize in the North Maharashtra zone were concluded at around Rs 2250-2260 per quintal, with buyers finding it difficult to obtain supplies below this rate.
Following a decline in previous sessions, maize prices traded almost steady across major centers in North, South, and Western India. The unavailability of easy supply at lower rates from Bihar supported prices. Amalner mandi in Western India quoted steady prices at INR 2100-2130 per quintal, with regular buying observed across the zone.
Active godown buyers and rack loading activities in Bihar are likely to keep maize prices stable in the region, with any significant decline deemed unlikely. Ethanol buyers in North India are procuring maize in bulk quantities from Bihar at Rs 2225-2250 per quintal, further indicating the demand dynamics in the market.
Furthermore, predictions of rains in Bihar in the coming days may alleviate supply pressure. In Karnataka, maize prices traded steady with a positive bias at Rs 2420-2430 per quintal, attributed to weaker-than-expected new rabi maize crop production.
Buyers in Tamil Nadu and Karnataka are quoting Rs 2430 (delivery) and Rs 2400-2410 (delivery), respectively. With Telangana's new Rabi maize supplies also weakening, buyers in this region may increasingly source from Bihar in the coming months.
Given the current scenario, maize prices are expected to remain steady to firm in the near term, although a sharp rise is unlikely as the Uttar Pradesh crop is anticipated to enter the market after 20-25 days.
0 Comments 
Post Comment 
