New Delhi, September 27 (CommoditiesControl): Maize prices have remained steady to firm across major markets as delays in harvesting, attributed to adverse weather conditions, continue to support prices.
In Telangana, maize sellers are actively participating in the market, with good new arrivals reported, although the pace is beginning to slow due to recent rains. In Nizamabad, one of the largest mandis in Telangana, only around 1,300 bags arrived today, with prices quoted between INR 1,600 and INR 2,450 per quintal, depending on moisture content (16-24%).
From Adilabad to Hyderabad, new arrivals were approximately 1,000 tons, which is still favorable compared to other states like Karnataka, Maharashtra, and Madhya Pradesh (MP). Despite the current rainfall, any significant decline in maize prices appears unlikely in the near term.
In MP, new arrivals are primarily noted in Jabalpur and Patan mandis, but these are in very small quantities. Arrivals have been delayed by 10-15 days due to heavy rains in regions such as Chhindwara, Seoni, and Jabalpur. Given the current scenario, substantial arrivals are not expected before October 15.
The opening of several ethanol plants in the region has increased demand, with one plant in Seoni securing a 2.5-acre space for bulk maize stocking. Many ethanol producers are now looking to build their inventories. Although stockists were initially waiting for maize prices to reach INR 2,200-2,250 to begin stocking, the ongoing rainfall and delayed arrivals may push them to enter the market at a higher range of INR 2,300-2,350.
In Maharashtra, heavy rains have disrupted arrivals, with Amalner mandi reporting no new stocks. The origin rates in Jalgaon have ranged from INR 2,500 to INR 2,550 per quintal, while prices in consumption centers are trading higher, between INR 2,850 and INR 2,900 per quintal.
Karnataka experienced rainfall yesterday, but sunny weather today led to increased arrivals totaling 1,200 MT. Rake bilty prices in various locations traded between INR 2,450 and INR 2,500 per quintal, while deliveries in Bangalore reached INR 2,600 per quintal.
Looking ahead, it seems challenging for maize prices to decline further, given the ongoing rains in key maize-producing regions such as Telangana, Karnataka, and Maharashtra, which could delay the harvesting process. With supply constraints already evident, prices for ready supplies are likely to rise in the near term.
(By Commoditiescontrol Bureau; +91 9820130172)
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