Mumbai, August 9 (Commodities Control): Maize prices continued to trade with a positive bias, ranging between INR 2,500-2,590 per quintal, as steady demand from various sectors sustained upward price momentum. In Gulabbagh, maize prices have seen an increase of INR 80-100 per quintal over the past nine days, reflecting strong market conditions.
Bihar's maize market remains bullish, with spot prices at INR 2,500 per quintal and October futures quoted at INR 2,605-2,610 per quintal. The positive undertone is driven by expectations of limited new kharif arrivals, which are set to begin around mid-September. South Indian buyers, particularly those sourcing from Bihar, remain active in the market due to the superior quality of Bihar maize. Concerns over potential quality damage to kharif corn from rainfall could further boost demand for Bihar maize in the coming weeks.
Ethanol and starch manufacturers, along with the poultry sector, are gradually increasing their purchasing activity, adding to the upward pressure on prices. Gulabbagh arrivals have dwindled to less than 1,000 tons, contributing to the ongoing price movement.
In other regions, maize prices have remained consistent. Sangli prices held steady at INR 2,925 per quintal, while the Pune line traded at INR 2,900-2,925 per quintal. In Uttar Pradesh, spot prices for August are at INR 2,500 per quintal, with September prices slightly higher at INR 2,525 per quintal. Maharashtra's poultry sector remains active, with good buying activity observed at current prices.
In Tamil Nadu, consumers are paying INR 2,825 per quintal, despite limited supplies. Imported maize from Myanmar, arriving at Tuticorin port, is quoted at INR 2,875 per quintal (from August 15 onward), making Bihar maize a more attractive option for Tamil Nadu buyers.
Maize prices in Karnataka are trading consistently between INR 2,750-2,800 per quintal, while Andhra Pradesh and Telangana are seeing prices range from INR 2,600-2,650 per quintal. The upcoming fresh crop from Karnataka's Koppal district, expected to arrive in mid-September, is likely to be consumed locally, particularly by ethanol manufacturers in Bagalkot and Bijapur, potentially insulating the region from significant price fluctuations.
Nationally, maize acreage has expanded to 8.2 million hectares as of August 2, a 0.7 million-hectare increase from the previous year. This growth is partly driven by a shift from cotton to maize in regions like Rajasthan, Punjab, Madhya Pradesh, and Maharashtra, as farmers seek to avoid the higher parasite incidence associated with cotton. The high demand from ethanol producers and poultry farms is also contributing to the rise in maize acreage and prices.
Overall, the market sentiment for maize remains positive. Short- to medium-term prices are expected to remain supported as the poultry industry ramps up purchases to meet pent-up demand following the Shravan period. However, a significant price increase may be challenging, as buyers are likely to moderate their activity with the anticipated arrival of fresh kharif shipments next month.
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